Are You A 21st Century Advisor?
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How do you benchmark your clients’ plans to evaluate service providers?
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I use an independent benchmarking service to complement my work
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I conduct my own benchmarking through RFP requests
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I don’t perform benchmarking services
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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.
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- 2.
How involved are you with plan management and investment selection?
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Act as a 3(21) co-fiduciary
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Act as a 3(38) investment manager
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I don’t accept fiduciary responsibility
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- 3.
What is your recommended default investment (QDIA)?
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Target-date funds
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Target-risk funds
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Managed accounts
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Cash or stable value
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- 4.
What investment platforms do you usually recommend?
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Proprietary
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Open architecture
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- 5.
Do you offer any standalone features to help participants better prepare for retirement?
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Auto rebalance only
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Auto contribution increase only
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Auto rebalance and auto contribution increase
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None of the above
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- 6.
Do you encourage auto enrollment as a plan feature within your practice?
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Yes, I always recommend auto enrollment to my plans
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Yes, I sometimes encourage auto enrollment based on participant demographics
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Yes, in combination with auto contribution increase
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No, I do not encourage auto enrollment for any of my plans
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- 7.
What percentage of your revenue comes from retirement plans?
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Less than 50%
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50-75%
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Over 75%
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- 8.
What is the typical approach you take when building an investment menu?
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Offer a core lineup of funds only
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Offer a core lineup plus model/target date portfolios
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Offer a core lineup, models/target date portfolios, plus a managed account solution
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- 9.
How do you communicate with plan participants?
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Email
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Web
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Print (hard copy)
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Social media
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Mobile and text
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Employee meetings
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All of the above
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- 10.
How would you describe your planning method to help participants be retirement ready?
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Accumulation focused (total dollar amount needed at retirement)
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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.
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Current Version
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Mar 15, 2024Quiz Edited by
ProProfs Editorial Team -
Jun 06, 2013Quiz Created by
Roberta Hess
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