Advisors have a new tool to inform retirement plan participants on how to weather ongoing and volatile market shifts happening as a result of the spread of COVID-19.
PCS Retirement’s Communication Resource Center offers advisors ways to directly communicate with plan participants, and also serves as a resource for additional documents and resources. CEO Mark Klein said turbulent times in the market is when efficient communication between advisors and participants about their retirement accounts is needed most.
“Yet many advisors don’t have a ready channel or easy way to communicate directly with plan participants,” he said. “We feel it’s a critical time to offer this new communication service for both advisors and their plan participants.”
Through the resource center, advisors will be able to upload messages that can directly reach a client with a retirement account, though advisors must be on the PCS Retirement recordkeeping platform to use the network. Notably, messages will have to be approved by whatever compliance mechanism the advisor’s firm utilizes.
This is all the more important in an increasingly remote working environment, with experts cautioning advisors and firms to continue fulfilling compliance mandates even as the spread of the coronavirus substantially impacts conventional business operations.
PCS Retirement, after its acquisition of Aspire in 2019, offers recordkeeping services for 16,000 plans and 750,000 participants that collectively total more than $23 billion in assets under administration.