Advisers focus more on financial education as concern grows over retirement savings.
Although within the past year there has been an increase in awareness, it still remains that most people are not saving enough money for retirement. Much of this is due from higher consumer debt to addressing college tuition.
According to a Plan Sponsor Council of America Survey - only 1 in 5 employers (sponsors) have adopted a formal financial wellness program to help employees save effectively for retirement - outside of the standard DC education savings plan. This information, along with a change in demographics has increased a desperate need for more comprehensive financial education.