Choosing an investment manager for your defined contribution plan is challenging enough. But once you've made that decision, how do you ensure workers get the most out of the plan?
The key is education. Smart investment managers take the time to educate plan participants, so they know what options they have and decisions to make. So when Ullico Investment Advisors, Inc. and Acropolis Investment Management, LLC partnered to form Ullico Retirement Services (URS), they committed to offering custom education to its clients.
That education effort starts with financial literacy, including debt management, budgeting and other basics to help participants understand how to manage their personal finances. This knowledge serves as the foundation for retirement planning.
Since every client is different, their defined contribution plans won't be exactly the same. URS responds by customizing the education that goes with each plan. Custom education materials facilitate the process, helping participants get familiar with their new plan. One-on-one consultations are also a part of the approach, so that individual participants can ask questions about their specific situations.
"The effort to educate plan participants supports our core mission, which is to serve the working men and women of America," says Edward M. Smith, President and CEO of Ullico Inc.