Are You A 21st Century Advisor?

10 Questions | Total Attempts: 94

21st Century Quizzes & Trivia

Is your retirement-plan practice in sync with the times? Take this 3-minute quiz to find out. Just enter your name and email to get started.


Questions and Answers
  • 1. 
    How do you benchmark your clients’ plans to evaluate service providers?
    • A. 

      I use an independent benchmarking service to complement my work

    • B. 

      I conduct my own benchmarking through RFP requests

    • C. 

      I don’t perform benchmarking services

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

      Act as a 3(21) co-fiduciary

    • B. 

      Act as a 3(38) investment manager

    • C. 

      I don’t accept fiduciary responsibility

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

      Target-date funds

    • B. 

      Target-risk funds

    • C. 

      Managed accounts

    • D. 

      Cash or stable value

  • 4. 
    What investment platforms do you usually recommend?
    • A. 

      Proprietary

    • B. 

      Open architecture

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

      Auto rebalance only

    • B. 

      Auto contribution increase only

    • C. 

      Auto rebalance and auto contribution increase

    • D. 

      None of the above

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

      Yes, I always recommend auto enrollment to my plans

    • B. 

      Yes, I sometimes encourage auto enrollment based on participant demographics

    • C. 

      Yes, in combination with auto contribution increase

    • D. 

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

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

      Less than 50%

    • B. 

      50-75%

    • C. 

      Over 75%

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

      Offer a core lineup of funds only

    • B. 

      Offer a core lineup plus model/target date portfolios

    • C. 

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

  • 9. 
    How do you communicate with plan participants?
    • A. 

      Email

    • B. 

      Web

    • C. 

      Print (hard copy)

    • D. 

      Social media

    • E. 

      Mobile and text

    • F. 

      Employee meetings

    • G. 

      All of the above

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

      Accumulation focused (total dollar amount needed at retirement)

    • B. 

      Retirement income focused (monthly income needed in retirement)

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