Why Most Pre-Retirees Still Aren’t Getting Financial Advice — And Why CPA Firms and Women Entrepreneurs Should Care

The retirement industry has invested heavily in financial wellness tools, yet most pre-retirees still are not engaging with them. According to Cerulli, 71% of pre-retirees did not seek advice from their 401(k) provider in the past year, while 45% believe they are not saving enough and 59% struggle to determine how much they need for retirement.

The issue is not access to information.

It is lack of coordination and implementation.

Many individuals still do not know:

• How much they truly need for retirement

• Which strategies are tax-efficient

• How to structure withdrawals

• Whether their investments align with their goals

• How business, tax, and retirement decisions connect

For CPA firms, this creates a growing challenge.

Every tax season, firms see clients making financial decisions that create avoidable tax consequences:

• Poorly timed Roth conversions

• Inefficient retirement withdrawals

• Uncoordinated investment moves

• Unexpected capital gains

• Missed planning opportunities

  
  

The CPA often becomes responsible for fixing problems created by fragmented advice.

Women entrepreneurs face similar pressures. Many are building successful businesses while simultaneously managing retirement planning, cash flow, taxes, investments, and long-term security — often without a coordinated advisory strategy.

The real opportunity for CPA firms and advisory professionals is not offering more tools.

It is delivering integrated guidance.

Clients increasingly want:

• Coordinated tax and investment planning

• Proactive retirement strategy

• Clear implementation

• Ongoing accountability

• Simplicity in complex decisions

  
  

Cerulli’s research also found that individuals with a retirement plan reported far greater confidence about maintaining their lifestyle in retirement.

Confidence is not created by dashboards.

It is created by strategy, coordination, and trusted advice.