Are you a 21st century advisor?

1. How do you benchmark your clients' plans to evaluate service providers?

I use an independent benchmarking service to complement my work

I conduct my own benchmarking through RFP requests

I don’t perform benchmarking services

2. How involved are you with plan management and investment selection?

Act as a 3(21) co-fiduciary

Act as a 3(38) investment manager

I don’t accept fiduciary responsibility

3. What is your recommended default investment (QDIA)?

Target-date funds

Target-risk funds

Managed accounts

Cash or stable value

5. Do you offer any standalone features to help participants better prepare for retirement?

Auto rebalance only

Auto contribution increase only

Auto rebalance and auto contribution increase

None of the above

6. Do you encourage auto enrollment as a plan feature within your practice?

Yes, I always recommend auto enrollment to my plans

Yes, I sometimes encourage auto enrollment based on participant demographics

Yes, in combination with auto contribution increase

No, I do not encourage auto enrollment for any of my plans

7. What percentage of your revenue comes from retirement plans?

Less than 50%

50-75%

Over 75%

8. What is the typical approach you take when building an investment menu?

Offer a core lineup of funds only

Offer a core lineup plus model/target date portfolios

Offer a core lineup, models/target date portfolios, plus a managed account solution

9. How do you communicate with plan participants?

Email

Web

Print (hard copy)

Social media

Mobile and text

Employee meetings

All of the above

10. How would you describe your planning method to help participants be retirement ready?

Accumulation focused (total dollar amount needed at retirement)

Retirement income focused (monthly income needed in retirement)

Are You A 21st Century Advisor?