The Costly Threats and Untapped Opportunities of Managing Your Company's 401k with Guy Ridout
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In this episode of Advance Your Wealth, Homer Smith sits down with financial expert Guy Ridout to discuss "The Costly Threats and Untapped Opportunities of Managing Your Company's 401k." Together, they explore the often-overlooked challenges and risks businesses face when managing 401k plans, including hidden fees, regulatory pitfalls, and fiduciary responsibilities. But it’s not all about the threats—Guy also shares valuable insights into the untapped opportunities that can benefit both employers and employees, from improving plan performance to boosting employee retention.
Whether you're a business owner, executive, or plan administrator, this episode provides essential knowledge on how to protect your company's 401k from costly mistakes and maximize its potential for long-term success. Tune in to learn how proactive 401k management can be a powerful tool for your business and your employees' financial futures.
Chapters:
0:00 - Introduction and overview on the topic of the day
2:59 - Identifying Threats in 401K Planning
5:48 - Compliance Challenges in 401K Plans
8:50 - Employee Perception and Engagement with 401K Plans
11:57 - Unlocking Opportunities
15:00 - The Role of Financial Advisors in 401K Management
17:50 - Real World Applications and Success Stories
21:05 - Closing remarks
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