While 401(k) plans have come down in price over time, Reilly Financial Advisors (RFA) President Frank Reilly believed their offerings and costs were still not where they needed to be in order to properly prepare participants for future financial success. He also noticed that no one was helping participants with these types of accounts.

So, down the rabbit hole of informal research Frank Reilly went. Over a six-month period, Frank asked everyone he met these few simple questions:

  • Do you have a 401(k)?
  • Does your company offer an employer match?
  • What percentage does your employer match?
  • How many investment options do you have inside your 401(k)?
  • Have you changed your allocation since your initial investment?
  • Has anyone ever contacted you regarding your 401(k) account?

While several people Frank spoke with did have a 401(k) account, he was amazed by how many people answered “I don’t know” or “no” to every follow-up question.

Frank saw this gap in the market as a huge opportunity. And so, he decided that RFA would need to create a new arm to help get people ready for retirement. This new arm of RFA was called Corporate Retirement Services (CRS).

At the end of the day, we at RFA just want to do our best to ensure people have the education and resources necessary to retire well. We believe those with just $5,000 to invest still deserve professional advice and that everyone should have the personal financial guidance necessary to help them retire with dignity.

RFA President Frank Reilly
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