Is Being a Retirement Advisor Meaningful Work?

I recently reviewed some training material that is being prepared for professionals new to the retirement industry. When I was finished, the project manager asked me what I thought of the course. From a technical standpoint it appeared to include the critical subjects that needed to be taught, and the navigation of the course seemed to be smooth. But I could sense something was missing, and it took me several minutes to realize what it was — it did not address this seminal question: Is being a retirement plan advisor meaningful work? Before you read on, think about how you would respond to that question. Is what you do work, or is it an avocation? What inspired me to write this column is a Forbes article by Schon Beechler, “Leadership Skills: Helping Others Find Meaning.” The article is about the importance of the leader’s role in helping followers find meaning in their work. Beechler cites the four key attributes of meaningful work identified in Kim Cameron’s book, Positive Leadership: • The work has an important impact on the well-being of human beings. • The work is associated with an important virtue or personal value. • The work has an impact that extends beyond the immediate time frame or creates a ripple effect. • The work builds supportive relationships or a sense of community in people. If you don’t recognize all four of those attributes in your own work, you need to reevaluate how you’re serving your clients — and perhaps even reevaluate whether you should be serving the 401(k) marketplace. When we become advocates for plan participants and assist plan trustees with the prudent management of investment decisions, we are doing meaningful work. We become a point of inspiration to the people we lead and serve.