This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Retirement Plan Sponsors Want Financial Professionals To Adjust Focus

The majority of retirement plan sponsors rely heavily on projected participant outcomes—whether participants can retire successfully to gauge the success of their plans. But they’re not sure their financial professionals are on the same page. That’s according to new research from the Principal Financial Group ®.

Nearly two-thirds (63 percent) of plan sponsors measure the success of their plans by participants’ abilities to stay on track for a successful retirement. But less than half of those surveyed say their financial professionals attach the same importance to that metric.

“This is a clear opportunity for financial professionals to demonstrate their value,” said Tim Minard, senior vice president, The Principal ®. “By expanding their focus and diving deeper into plan evaluation, financial professionals can build stronger practices and create loyal followings of highly satisfied clients.”

Supporting Retirement Savings, a national survey of more than 280 sponsors of 401(k) plans, was conducted by Brightworks Partners on behalf of The Principal Knowledge Center. The survey revealed that sponsors want financial professionals to help with plan design:
  • Plan sponsors believe their financial professionals are more focused on having a high participation rate (64 percent) and an attractive fund line-up (63 percent) than plan outcomes.
  • Plan sponsors are overwhelmingly (76 percent) open to consulting with financial professionals on plan design to help improve participant outcomes.
  • Two-thirds of plan sponsors expect their financial professionals to be aggressive in promoting outcome-focused retirement income planning.

“Financial professionals who focus on fees, funds and fiduciary responsibility may not be focusing enough on participant outcomes,” said Minard. “The survey shows that plan sponsor clients—and prospects—want to work with financial professionals who are as concerned as they are about the end game: how well participants will be prepared to afford a comfortable retirement.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs