Plan sponsors are happy with their advisors

Ary Rosenbaum - The Rosenbaum Law Firm P.C.
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Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Financial advisors working on 401(k) advisors have happy clients, according to a new Fidelity survey.

Fidelity’s annual Plan Sponsor Attitudes Study, now in its 15th year, surveyed over 1,100 employers offering retirement plans. The survey found that not only do 90% of sponsors use an advisor for plan sponsor consultation and management, but 80% are satisfied with the plan achieving its goals, up from 74% in 2023.

81% of sponsors are highly satisfied with their advisors, up from 63% in 2019. Nearly 50% of surveyed sponsors report it is “very important” advisors guide HSAs—a 21% jump from 25% in 2023. 81% of plan sponsors said plan advisors should be allowed to work with employees outside their respective plans to support their broader financial planning needs.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations. Attorney Advertising.

© Ary Rosenbaum - The Rosenbaum Law Firm P.C.

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Ary Rosenbaum - The Rosenbaum Law Firm P.C.
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