RESEARCH |
2023
PLANADVISER Retirement Plan Adviser Survey
Reported by PLANADVISER
| Art by James Yang
Providers
ADP Retirement Services
| Qualified plan adviser votes | 92 |
| Overall Perception Among Qualified Advisers | |||
|---|---|---|---|
| Very favorable | 11% | ||
| Somewhat favorable | 21% | ||
| Not favorable | 68% | ||
| Plan Adviser Experience with Provider | |||
|---|---|---|---|
| Worked with many times | 14% | ||
| Worked with several times | 15% | ||
| Worked with a few times | 50% | ||
| Worked with once | 21% | ||
| Highest Rated Areas of Service | |||
|---|---|---|---|
| Payroll Integration | 15 votes | ||
| Overall Service, Micro Plans (<$5MM) | 8 votes | ||
| Fee Clarity / Accounting / Disclosure / Benchmarking | 8 votes | ||
| Overall Service, Small Plans ($5MM – $50MM) | 6 votes | ||
| Participant Statements | 6 votes | ||
| Participant Enrollment Materials / Support / Processing | 6 votes | ||
| Plan Sponsor Website, Analytics and Reporting | 6 votes | ||
| Regulatory / Compliance Support and Services | 6 votes | ||
| Quality / Consistency of Client Service Teams | 6 votes | ||
| Value for Price of Recordkeeping Services | 6 votes | ||