As of November 2025, the Trump administration actively began pursuing a policy to expand access to 401(k) plans to include more alternative investment products such as private equity, real estate, commodities, even digital assets. The idea is to democratize access to asset classes that historically have been out of the reach of the masses, available really only to institutional and high net-worth investors. What is the upshot of all this?
This is a controversial decision in the sense that there is very strong views on both sides of this argument. I would say there is a lot of complexity here. And so, even for those who are really enthused about this idea, the expectation is that it is not so much a dam breaking as much as a trickle coming through because there is so much to work through. But what people are enthused a
