RESEARCH |
2023
PLANADVISER Retirement Plan Adviser Survey
Reported by PLANADVISER
| Art by James Yang
Providers
Empower
| Qualified plan adviser votes | 100 |
| Overall Perception Among Qualified Advisers | |||
|---|---|---|---|
| Very favorable | 29% | ||
| Somewhat favorable | 32% | ||
| Not favorable | 39% | ||
| Plan Adviser Experience with Provider | |||
|---|---|---|---|
| Worked with many times | 39% | ||
| Worked with several times | 19% | ||
| Worked with a few times | 30% | ||
| Worked with once | 12% | ||
| Highest Rated Areas of Service | |||
|---|---|---|---|
| Participant Website and Online Tools | 34 votes | ||
| Payroll Integration | 30 votes | ||
| Plan Sponsor Website, Analytics and Reporting | 28 votes | ||
| Overall Service, Small Plans ($5MM – $50MM) | 26 votes | ||
| Participant Mobile Apps | 24 votes | ||
| Web Tools / Functionality for Advisers | 21 votes | ||
| Adviser Sales / Marketing Support | 20 votes | ||
| Fee Structure for Advisers | 20 votes | ||
| Participant Financial Education / Wellness Resources | 19 votes | ||
| Overall Service, Midsize Plans (>$50MM – $200MM) | 17 votes | ||
| Participant Call Centers / Phone Support | 17 votes | ||
| Regulatory / Compliance Support and Services | 17 votes | ||
| Value for Price of Recordkeeping Services | 17 votes | ||
| Plan Design Flexibility / Customization | 17 votes | ||