401kTutor.com is a free service offered by Beam Capital Management
. It came about after our CEO realized that there was no easy way for 401k account holders to get the help they need in navigating the often confusing path of complex investment options in their retirement plan and building a proper allocation.
According to the Investment Company Institute, there were more than 52 million active 401k plan participants and millions more non-active participants as of March 2014. Survey after survey has found that a big percentage of those participants need more help and education when it comes to properly allocating and investing their 401k accounts in order to better meet their retirement needs. To efficiently help the millions of users who need this retirement assistance we felt that a free online website was needed that combines all of the following 4 essential features: 1) it was free, 2) educated 401k plan participants, 3) provided suggested 401k allocations, and explained the reasons for those allocations, and 4) provided reminders for its users to come back and rebalance their portfolios. Based on our research, 401kTutor.com is the only website that offers all of these 4 features in one place.