If you are a financial advisor, more assets under management equal more money. So that means a financial advisor working in their 401(k) plan space should do their best to making sure that their Plans get bigger n the asset department.

That’s why being concerned how much the fees that plan sponsors are paying for administration and investments are a concern. More money lost in high fees means less in the Plan.

Financial advisors should look at other avenues such as my friends at SaverNation who reward plan sponsors with 401(k) contributions for making purchases online. It is a no brainer for plans sponsors to join SaverNattion.

The other aspect if the new Internal Revenue Service guidance (Notice 2014-54) that will allow highly compensated employees who receive refunds because of a failed ADP deferral test to transfer those after tax refunds directly to a Roth IRA account within a 401(k) plan. There will be a few steps that a plan sponsor would have to take to make this work (such as having a Roth 401(k) feature to the Plan) in 2015, but it is a consideration.

Automatic enrollment is another option. Safe harbor plan design and cross-tested allocations can work as well.

An advisor who helps the plan sponsor grow assets can help them lower fees and end up getting more shekels for the advisor. That’s a good deal.