Are You A 21st Century Advisor?

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| By Roberta Hess
R
Roberta Hess
Community Contributor
Quizzes Created: 1 | Total Attempts: 112
| Attempts: 112
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  • 1/10 Questions

    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
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About This Quiz


Is your retirement-plan practice in sync with the times? Take this 3-minute quiz to find out.
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Are You A 21st Century Advisor? - Quiz

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  • 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

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  • 3. 

    What is your recommended default investment (QDIA)?

    • Target-date funds

    • Target-risk funds

    • Managed accounts

    • Cash or stable value

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  • 4. 

    What investment platforms do you usually recommend?

    • Proprietary

    • Open architecture

    Rate this question:

  • 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

    Rate this question:

  • 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

    Rate this question:

  • 7. 

    What percentage of your revenue comes from retirement plans?

    • Less than 50%

    • 50-75%

    • Over 75%

    Rate this question:

  • 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

    Rate this question:

  • 9. 

    How do you communicate with plan participants?

    • Email

    • Web

    • Print (hard copy)

    • Social media

    • Mobile and text

    • Employee meetings

    • All of the above

    Rate this question:

  • 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)

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Quiz Review Timeline (Updated): Mar 15, 2024 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Mar 15, 2024
    Quiz Edited by
    ProProfs Editorial Team
  • Jun 06, 2013
    Quiz Created by
    Roberta Hess
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