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Survey Shows Large Opportunity in Small Plan 401k Market


NEW YORK, NY, July 8, 2013 -- Financial professionals looking to expand their business see a large opportunity in the micro- to small-plan retirement market, according to a series of surveys conducted at Guardian Retirement Solutions™ 401k G2 Summits: Gain and Grow. The national series of interactive educational events for financial professionals was attended by nearly 270 financial professionals in eight major markets across the country over the past 60 days.

At the conclusion of each of the eight G2 Summits, 100% of respondents said they were likely to take on more retirement business after learning how the right support partners can help them effectively manage this business. Each of the events featured presentations from investment management firms, recordkeepers, DCIOs, TPAs, fiduciary support providers and financial behavioral experts.

Nearly 65% of survey participants believe there is a large opportunity in the micro-small plan 401k market. More than 50 million Americans now participate in employer-sponsored 401k plans with assets totaling roughly $3 trillion. Ninety percent of all 401k plans are small businesses with less than $10 million in total plan assets and 80% of all 401k plans are in the micro market, holding less than $2.5 million in assets.*

Over half of survey respondents at the G2 Summits (51%) view time management as a key challenge to doing business in the retirement plan market followed by resource management (39%). To lesser degrees, fiduciary responsibilities (27%) and government regulations (23%) were cited as challenges.

"The message received from the G2 Summits is clear -- financial professionals don't have to go it alone in the micro- to small-plan market. With 401k assets expected to reach $4 trillion by 2015* the potential for financial professionals in this market is huge. Our post-event surveys revealed unanimous agreement among our financial professional audience that with the support of the right service providers, they can seize this opportunity to grow their business," said Steve Davis, National Sales Manager, Guardian Retirement Solutions™.

For those financial professionals unable to attend the G2 Summits in person, Guardian Retirement Solutions™ and Pension Resource Institute have issued a new white paper titled Leveraging Service Providers: Making 401k Business Scalable and Profitable. The white paper provides actionable strategies for successfully navigating time and resource management challenges and outlines many of the techniques discussed by the retirement experts at the event.

A copy of the white paper is available by contacting the Guardian Retirement Solutions™ sales team at 866.390.7268 (option #2) or at 401kSalesDesk@glic.com.

About Guardian

A mutual insurer founded in 1860, The Guardian Life Insurance Company of America and its subsidiaries are committed to protecting individuals, business owners and their employees with life, disability income and dental insurance products, and offer funding vehicles for 401k plans, annuities and other financial products. Guardian operates one of the largest dental networks in the United States, and protects more than six million employees and their families at 115,000 companies. The company has approximately 5,000 employees in the United States and a network of over 3,000 financial representatives in more than 80 agencies nationwide. For more information about Guardian, please visit www.GuardianLife.com.

Guardian Retirement Solutions™ refers to the administrative support services, including participant recordkeeping as well as marketing, enrollment and educational materials, provided by GIAC in conjunction with the individual and group retirement products issued by GIAC.

* Source: Abstract of 2010 Form 5500 Annual Reports, PDF, (Nov. 2012) http://www.dol.gov/ebsa/PDF/2010pensionplanbulletin.


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