RESEARCH |
2023
PLANADVISER Retirement Plan Adviser Survey
Reported by PLANADVISER
| Art by James Yang
Providers
Paychex, Inc.
| Qualified plan adviser votes | 48 |
| Overall Perception Among Qualified Advisers | |||
|---|---|---|---|
| Very favorable | 4% | ||
| Somewhat favorable | 13% | ||
| Not favorable | 83% | ||
| Plan Adviser Experience with Provider | |||
|---|---|---|---|
| Worked with many times | 6% | ||
| Worked with several times | 15% | ||
| Worked with a few times | 35% | ||
| Worked with once | 44% | ||
| Highest Rated Areas of Service | |||
|---|---|---|---|
| Payroll Integration | 5 votes | ||
| Overall Service, Micro Plans (<$5MM) | 3 votes | ||
| Service to MEPs / PEPs | 2 votes | ||
| Overall Service, Large Plans (>$200MM – $1B) | 1 vote | ||
| Overall Service, Mega Plans (>$1B) | 1 vote | ||
| Participant Call Centers / Phone Support | 1 vote | ||
| Participant Statements | 1 vote | ||
| Plan Sponsor Website, Analytics and Reporting | 1 vote | ||
| Regulatory / Compliance Support and Services | 1 vote | ||
| Plan Design Flexibility / Customization | 1 vote | ||
| Web Tools / Functionality for Advisers | 1 vote | ||