2024
PLANADVISER Adviser Value Survey

From August through November 2023, more than 2,100 plan sponsors, more than 1,500 of whom reported asset range data, completed our 2023 PLANSPONSOR Defined Contribution Survey. Among more than 100 questions pertaining to respondents’ satisfaction with DC plan providers, plan design, plan monitoring/oversight, fees, etc., the survey asked about contributions an adviser might have made to the plan. Respondents who used an adviser were invited later to complete a follow-up survey exploring the satisfaction of service, the length of working relationship and the fiduciary status of their adviser.

The data reported include plan statistics such as the makeup of assets and participants in the respondent plans and what investment vehicles were being used in the plan. The results also include participation rates for automatic enrollment, automatic escalation and true-up matching contributions. Plan sponsors were asked if they helped participants with creating retirement income or offered financial advice. Respondents also gave information about fee equalization and their use of an ERISA account or plan expense reimbursement account.

For more information about the survey results and the value advisers add to their clients’ plans, please contact surveys@issmediasolutions.com.

—Garrett Cox