Plan sponsors are more likely to stay with—and recommend—a provider that demonstrates a clear commitment to safeguarding accounts against evolving threats.
Tag "Richard Bavetz"
But good habits alone aren’t enough. As cyber threats evolve, fiduciaries must look ahead—promoting cutting-edge tools that can outpace tomorrow’s attackers.
Breaches hit fast. Fiduciaries must be ready to act. A documented incident response plan—including who to notify, how to contain the breach, and when to report it—is vital for 401k cyber protection. It demonstrates prudence and minimizes chaos.
Fiduciaries can no longer afford to treat cybersecurity as an IT department concern alone. In a world where digital breaches can wipe out savings, destroy trust, and invite costly lawsuits, cybersecurity has become inseparable from prudent plan management—and at least an implied fiduciary duty under ERISA.
Fiduciary sales thrive on market intelligence, as 401k AI tools uncover prospect risks to drive strategies.
The fundamental shift AI brings to 401k education is its capacity to tailor learning experiences to the unique profile of each individual saver.
AI fiduciary traps refer to compliance risks arising from inaccurate, biased, or undocumented AI outputs in 401k plan administration. Do you think the tort bar is salivating over this, waiting for that inevitable misstep?
By proactively addressing these critical 401k plan sponsor questions, sponsors can enhance their plans, protect participants, and shield themselves from unnecessary fiduciary exposure.
Here’s where the real disconnect kicks in: participants and pros don’t speak the same language on risk. Participants “feel” it. Meanwhile, advisers whip out rulers like standard deviation or some index, measuring volatility in neat little boxes.
Advisors do more than plot portfolios. They calm nerves, making them frontline warriors against volatility panic, turning “what if” into “we’ve got this.”
