In a typical retirement planning and enrollment process, participants are hosed down with education, then given a form and a booklet or sent to a website when they have time. “Good-bye and good luck. Hope you make good decisions with the tools we’ve given you” (which they often don’t!)

The vast majority of 401k plan participants get less than 1 hour of education each year about their plan and principles of investing, and are then expected to make thoughtful and informed decisions about how much to contribute and how best to allocate investments.

When and if individual participants ever spread that form and booklet out on the kitchen table or go to their provider’s website on a home computer, there is no one available to ask a question of; or worst yet, they ask their equally Ill-informed brother-in-law, friend or co-worker for advice. No wonder so many participants make bad decisions and are frustrated! There is a need for a new model here.