Part 5: Advisors Seek to Add Value

Part 5: Advisors Seek to Add Value

Most advisors take on responsibilities where they can add value. The top three responsibilities included participant education (84%), asset allocation (83%) and product selection (83%).

Most advisors take on responsibilities where they can add value. The top three responsibilities included participant education (84%), asset allocation (83%) and product selection (83%). These results were consistent across all advisor groups, although for non-specialists, participant education (79%) was slightly less frequent than the other two responsibilities (both at 84%).

The least commonly reported responsibilities were fiduciary governance (29%) and plan expense analysis (48%). That said, advisors who service more institutional plans tended to be far more involved with these duties than other advisors. This potentially suggests two factors: it may be easier for advisors to invest in what they know is a low-cost option rather than spending the time evaluating if higher fees are justified. Or it could indicate that advisors with more institutional plans face a slightly different suite of responsibilities than other advisors.

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Full Coverage of Retirement Plan Advisor Investment Strategies

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