Nearly Half of Businesses Consider Changing 401k Financial Advisor

According to the 2022 Fidelity Study, 47% of plan sponsors are considering a new financial advisor for their 401k.

Here are the reasons why companies want to change their 401k advisor:

  1. Better employee communication and education
  2. Better and more diverse investment options
  3. Help managing service issues with 401k provider

The 2022 Fidelity study provided lots of insight on what’s on the minds of business owners and HR professionals around the country.

After reading the study, it aligns well with what I am experiencing in my conversations with prospective new clients.

Here are the top 3 reasons companies hire me as their 401k advisor:

  1. Demonstrating strong knowledge of 401k and other retirement plan options to help them
  2. Help lowering plan costs for company and employee
  3. Willingness to help with fiduciary responsibilities and improving outcomes for their employees.

Are you open to…

  • A review of your retirement plan to check that the fees and expenses are still competitive? I offer a free review. 
  • Suggestions on how you can improve your retirement plan and retirement outcomes of your employees? I will personalize it to your company and your goals. 

Ready to discuss your retirement account with us?

Book a Consultation

13th Fidelity® Plan Sponsor Attitudes Study Finds:

  • 93% of Plan Sponsors Plan to Make Changes to their Investment Lineup—Including ESG
  • 47% of Plan Sponsors are Considering Changing Advisors, Hitting an All Time High
  • 88% of Plan Sponsors Anticipate Making Changes to Plan Design, The Most Active in Years

The Fidelity Plan Sponsor Study (link) offers wonderful insight to the challenges and opportunities that plan sponsors face today. https://institutional.fidelity.com/app/item/RD_13569_26306/plan-sponsor-attitudes.html

This information is not intended as authoritative guidance or tax or legal advice.

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