Wealth Advisor Magazine September 2024 Edition - 6

UPFRONT
TAMPS / DIRECT INDEXING / TECHNOLOGY / TRUSTS / MODEL PORTFOLIOS
KEYS TO THE
CASTLE
Keep it fresh. 9 out of 10
successful plan advisors
change the investment menu
in a 12-month period. " Build
and forget " just won't cut it.
Target dates make it easy.
A lot of sponsors want you
to be able to access target
date product managers and
certify that their methodology
makes sense.
THEY LIKE US
Plan Sponsors Are Happy
S
ometimes, it's easy to feel unappreciated
when you're crushed between
volatile markets and demanding
clients. But Fidelity says retirement plan
sponsors are downright grateful for the
work third-party consultants do.
A full 78% of employers who engage
with outside advisors see " good value, "
and 81% are " highly satisfied " with the
relationship.
That's a big jump since the pandemic hit.
Fidelity attributes the change to increased
expertise translating into better outcomes,
boosting success rates by 10 percentage
points over last year alone.
Granted, it's a lot of work and responsibility.
But there's a strategic reward for
those who know that the humble massmarket
plan is really a great prospecting
and referral center.
The sponsors do not mind in the slightest.
More than four in five are happy to let
advisors parlay their work on the plan into
deeper relationships with participants.
Retirement plan sponsors
increasingly value contributions
from third-party consultants, with
improved outcomes opening the
door for advisors to deepen
relationships with participants.
Performance counts.
Most sponsors prefer more
expensive investment options
that deliver historically
higher net returns. Alpha is
worth paying a premium.
Speak up. They're looking
to you to boost enrollment
and contribution numbers.
That's good. It gets you in
front of the employees who
are your prospects.
6 | SEPT/OCT 2024
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Wealth Advisor Magazine September 2024 Edition

Table of Contents for the Digital Edition of Wealth Advisor Magazine September 2024 Edition