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The article discusses how more automated advisory services are giving clients the chance to consult with financial planners and investment counselors. The Department of Labor's fiduciary rule, in effect since June 2017, requires anyone giving investment advice regarding a 401(k) or an IRA to act in the client's best interest.. Some firms are reported to have swapped their commission-based pay structure for one that charges clients a fee based on a percentage of assets under management.

The article offers advice for financial planning to help individuals reach their personal financial goals into retirement. Topics include regularly reviewing an investment portfolio especially following major life events, spreading out assets among investments and diversifying within asset classes, early investment in a 401(k) account, and making a budget that includes an emergency fund. It also discusses various options for getting assistance in making financial decisions and mentions potential charges by financial advisers that one may anticipate. INSETS: How to Get Started;When to Call In a Pro;Where to Get Help.

The article offers tips on maintaining one's 401(k) plan in a bear market. Talk to a financial planner about the right asset allocation for one's age, income, wealth, goals and tolerance for risk. See whether the administrator of a firm's 401(k) plan has some online advice or will send a planner to help educate employees.