Last year, one out of three 401(k) participants used a plan loan or hardship withdrawal, according to a recent Financial Finesse study. That was a substantial increase from 2011, when only one in four participants completed such transactions.

In many instances, hardship withdraws and loan can have adverse impacts, such tax implications and missed market opportunities, on long-term savings goals. For advisors, this development can be frustrating. Yet, this trend can present attractive opportunities for advisors.