After Washington, Missouri is the second known state to send warning letters to advisors over the use of wealthtech tools that can access data in client retirement and banking accounts.

A pension expert says millions will find they can’t afford to quit their jobs, while others may be forced out of work before their nest egg is ready.

Nearly a third of them are still providing financial support to adult-age children and extended family members.

While corporate pension plans have adopted alternative investment options, such as private equity and credit, 401(k) plan managers face big obstacles to accessing the space, Cerulli survey shows.

The program builds on the expertise of Caliber Wealth Management, which merged with Diversify earlier this year.