PCS Retirement, a provider of retirement plan solutions for financial advisors, has launched a new Communication Resource Center to ensure advisors communicate efficiently with plan participants during the market volatility resulting from the COVID-19 pandemic, according to a company release.

The resource center provides links to financial, economic and wealth management articles that advisors can use to communicate with and educate plan participants. They also have the option of creating their own messages. Articles include timely topics such as “Certainty in Crisis” and “Historical Health Scares: What Does Coronavirus Mean for Investors?”

The release said advisors can easily upload a message that can be posted on a participant’s website or e-mailed to them. Advisors must use the PCS Retirement record-keeping platforms to take advantage of the new service, the release said.

The release cited a recent study by the Employee Benefit Research Institute (EBRI), which found that only 12% of plan participants indicate that their employer or retirement plan provider offers education on how to invest money in a retirement plan. Additionally, only 26% report having the information they need to determine how much to save for retirement.

Mark Klein, the CEO of PCS Retirement, said many advisors don’t have a ready channel or easy way to communicate directly with plan participants, and this is a critical time to offer this new communication service for both advisors and their plan participants. “Times like these are when independent, professional financial advice is needed most. It’s critical to provide information to plan sponsors and participants to keep them informed about their retirement accounts, markets and investing,” he said in a statement.

Founded in 2001 by tax and ERISA attorneys, Philadelphia-based PCS Retirement is one of the nation's largest independent retirement solution providers. PCS acquired Aspire in 2019 and together they provide record-keeping services to 16,000 plans and 750,000 eligible participants representing more than $23 billion in assets under administration.