SOURCE: Hanson McClain Advisors

FiComm Partners

January 28, 2014 09:00 ET

Hanson McClain Advisors Launches Pathway, an On-Plan Money Management Program for Pre-Retirees

SACRAMENTO, CA--(Marketwired - January 28, 2014) -

  • The Pathway On-Plan Money Management Program provides discretionary money management on retirement funds held in 401(k), 403(b) and 457 plans
  • With the Pathway On-Plan Money Management Program, participants' savings remain on their existing plans and they are able to continue making their regular monthly contributions and changes to their investments at any time
  • Pathway is currently offered by more than 400 advisors throughout the country

Hanson McClain Advisors (HMA), a Sacramento-based investment advisory firm with $1.5BB AUM, has announced the launch of Pathway, an On-Plan Money Management Program designed to help 401(k), 403(b) and 457 plan participants benefit from a broader investment menu, professional money management and access to a local advisor.

The Pathway Program was created to bridge the continuity gap that has long existed between defined contribution plan participants and professional investment advisors. Individuals with qualified 401(k), 403(b) or 457 plans select the self-directed brokerage account option available in tens of thousands of employer-sponsored retirement plans as a window that enables them to work with a local advisor who has partnered with Hanson McClain Advisors. 

For the tens of millions of eligible pre-retirees with 401(k), 403(b) or 457 savings accounts, the launch of Pathway means a different type of money management from what has historically been available on most defined contribution plans. On-Plan Money Management also means that the money never leaves its current employer-sponsored platform, so participants can continue to make plan contributions and changes as they always have. 

"Not only is the future of Social Security in doubt, but pensions are becoming a thing of the past. Pre-retirees need to be both creative and proactive to prepare for what could end up being an entirely self-funded retirement." said Scott Hanson, partner at Hanson McClain Advisors, and a Barron's(1) magazine's Top 100 Independent Wealth Advisor. "We see a looming retirement crisis in this country for both individuals and the economy -- people are simply not saving enough for retirement and are largely neglecting proper planning regarding their 401(k), 403(b), and/or 457 accounts."

"Incredibly, 90% of 401(k) participants(2) reallocate less than once a year," adds Pat McClain, partner and co-founder of Hanson McClain Advisors. "The line of financial advisors waiting and hoping to advise on your assets is miles long post-retirement -- but what about leading up to retirement? Where are all the advisors as you save and allocate throughout these critical years?"

Pete Engelken, Chief Operations Officer at Hanson McClain Advisors, concludes: "Americans are struggling to prepare for a comfortable retirement, having to work longer and make better financial choices along the way. Pre-retirees want professional help to prepare for retirement, and the financial advisory industry has pretty much failed to provide a satisfactory remedy." 

(1) Published August 2011, 2012, 2013: Barron's Top 100 Independent Wealth Advisors. Barron's © magazine is a trademark of Dow Jones L.P. The ranking reflects the volume of assets overseen by the advisors and their teams, revenues generated for the firms and the quality of the advisors' practices. Scott Hanson names to Barron's list for 2011, 2012, 2013.

(2) Source: ICI Survey of DC Plan Recordkeepers (2008-2011)

About Hanson McClain Advisors

Headquartered in Sacramento, CA, Hanson McClain Advisors is an investment advisory firm with over $1.5 billion under management. Hanson McClain Advisors provides clients with a broad-based, holistic approach to financial planning, offering support and service consistency from the asset gathering stage through the investment selection.

The company's involvement in the community is a fundamental part of Hanson McClain Advisors' business philosophy and core values. The firm is dedicated to making their community a better place to live and is an active supporter of numerous charitable organizations. For more information about Hanson McClain Advisors, please visit www.hansonmcclain.com.

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