PlanAdviser reports Voya Investment Management released the findings of its third annual plan sponsor and defined contribution specialist advisor survey. The survey “found sponsors and DC specialists continue to share views on many aspects of retirement plan support and service, but where differences exist, they indicate that DC specialists feel their services add greater value than plan sponsors recognize — pointing to an opportunity for DC specialists to better demonstrate their value.” Voya IM’s head of Intermediary Distribution Jake Tuzza said on the survey, “Sponsors told us they are looking to specialists for a broad spectrum of advice and want higher levels of expertise, which again underscores the need for specialists to make sponsors aware of all that they can do.” The survey found “upticks in sponsor recognition that DC specialists help keep plan costs reasonable (93%) and that DC specialist compensation is proportional to the support provided (85%). Also encouraging, Voya says sponsors are more likely to say they understand the DC specialist’s compensation and fee disclosures (73%).” Tuzza added, “Given the results of this survey, there are things specialists can do that demonstrate their value. For example, articulate your value by drawing up an inventory of the services you provide to each sponsor and assess yourself on how closely your services focus on their priorities. We also recommend embracing ESG (environmental, social and governance) in the investment selection process. We expect to see increased demand for ESG strategies — especially as younger employees come to represent a greater percentage of plan participants.”