RESEARCH |
2020
PLANADVISER Retirement Plan Adviser Survey
Reported by PLANADVISER
| Art by Vikki Zhang
Providers
Paychex, Inc.
| # of retirement plan adviser interactions | 144 |
| Interactions vs. Adviser Recommendations | |
|---|---|
| Multiple interactions | 58% |
| Recommend rate | 15% |
| Overall Service Quartiles, by Plan Assets | |
|---|---|
| <$5MM | 1st quartile |
| $5MM–$50MM | Not rated |
| >$50MM–$200MM | Not rated |
| Highest Rated Areas of Service | |||
|---|---|---|---|
| Payroll integration | 11% | ||
| Web tools for advisers | 4% | ||
| Fee structure for advisers | 2% | ||
| Plan sponsor website and reporting | 2% | ||
| Value for price | 1% | ||
| Footnote: Quartiles provide a relative comparison of how frequently the recordkeeper was cited as the “best” recordkeeper in the corresponding market. 4th, or top, quartile (cited most frequently); 3rd quartile; 2nd quartile; and 1st quartile (cited least frequently). |