He also expects the new fiduciary rule to prompt additional demand for MEPs.
“That’s going to be our answer to the onesie-twosie advisors, the small employers, that group of people that are struggling with how do we handle this new regulation—the added reporting, all these complexities,” he says.
He sees MEPs as a win-win. “Small business clients are looking for an affordable 401(k) solution and a better way to manage their ensuing fiduciary liabilities,” he says, “and advisors are constantly looking for ways to deliver that value to their clients and do so in a way that is effective and efficient for them.”