Employees Trust Advisers, but Doubt Retirement Readiness, per NFP

Most employees feel unprepared for their future retirement, but it is not for lack of seeking advice. According to the 2026 “U.S. Retirement Trend Report” by NFP, an Aon company, 89% of responding employees trusted financial advisers provided by their employer, yet 69% were unsure they would retire comfortably.

The report, based on a survey of 1,000 U.S. working adults involved in their household financial planning, found a clear interest in accessing advice. When asked, 62% of respondents said one-on-one meetings with financial professionals are a helpful retirement-planning resource, and 84% said they would consider working with an adviser if given the opportunity.

The findings suggest that while employees value financial advice and express interest in working with advisers, significant barriers continue to hinder engagement—including concerns about cost, uncertainty about adviser value, and limited awareness of available resources.

That gap between interest and action appeared in MassMutual’s “2026 Financial Habits Report,” which found 82% of 1,500 surveyed U.S. adults age 25 and older agreeing that working with a financial adviser can help support their financial needs.

Yet only 34% of those surveyed by MassMutual said they had sought advice from a financial professional in the past year. More respondents (37%) reported seeking advice from family and friends, and 36% had turned to social media platforms, online forums or artificial intelligence tools for financial guidance.

Busting Financial Advice Myths

According to MassMutual, 62% of respondents avoided making financial decisions, in some cases because financial matters make them feel anxious or overwhelmed. Still, 85% said they would feel comfortable discussing financial fears, anxieties or negative scenarios with a financial adviser.

“Plan sponsors should be offering one-on-one confidential sessions. In our experience, the clients that offer these sessions along with an invitation to spouses/partners is incredibly appreciated by employees,” wrote Steve Jans, NFP’s wealth management national practice leader, in an email to PLANADVISER. “Oftentimes, the decisionmaker is not necessarily the employee, so offering sessions with spouses/partners is a big differentiator and increases employee appreciation of the benefit.”

Many of NFP’s respondents remained hesitant to engage with advisers because of misconceptions. Nearly one-quarter of respondents (24%) said they did not have enough assets or income to work with an adviser, while 24% questioned the value of meeting with one and 20% cited concerns about fees.

“When the plan sponsor pays for the adviser’s time, it takes the ‘fee’ concerns out of the equation,” Jans wrote. “Plan sponsors should be paying for the advice; advisers should be hired to educate and provide guidance.”

MassMutual respondents had comparable misperceptions, with 83% of respondents believing financial advisers’ clients needed to meet a minimum level of assets. Among those respondents, 52% thought at least $50,000 in investable assets was necessary, while 68% thought a client needed at least $10,000.

The Role of Advisers

The studies point to a growing opportunity for advisers, as retirement concerns continue to mount. According to NFP, 72% of surveyed employees reported feeling off-track for retirement, up from 68% in 2025.

Respondents’ awareness of available financial wellness and advisory services has declined. Only 42% of employees surveyed by NFP said they knew what services are available through their employer, down from 55% last year. Just 34% said they knew how to access those services, compared with 44% in 2025.

“We have created great opportunities for people to save and invest. People struggle with making decisions,” Jans wrote. “The problem is not access to planning—the problem is confusion. There are thousands of resources and financial calculators online. So many people are immune to using them. It is almost as inefficient as the junk mail you get every day.”

Employees also reported limited awareness of retirement benefits beyond their workplace retirement plan. On average, 25% said they were unsure whether specific retirement-related offerings were available through their employer.

NFP’s findings aligned with other recent research highlighting demand for professional guidance. A recent J.P. Morgan Asset Management survey found that 73% of plan participants said they would “completely hand over” retirement planning and investing decisions to a financial professional if given the opportunity.

The J.P. Morgan survey also found that most participants (59%) believed they needed to contribute more than they are currently contributing to stay on track for a financially secure retirement. Among retired respondents, included in the survey for the first time, 63% said they wished they had contributed more during their working years.

“Looking ahead, every employee needs to have a balance sheet and an income plan for retirement,” Jans wrote. “The foundation of everyone’s personal financial plan starts with their company benefits package. Viewing the benefits package through the lens of financial planning will begin to help employees understand the value in planning.”