Survey of the Retirement Landscape

Survey of the Retirement Landscape

Survey of the Retirement Landscape

What do sponsors want from advisors that service their plans? And how does that differ from advisors’ perception of what their clients are looking for? Voya Investment Management identifies unmet needs and emerging opportunities by exploring disconnects between the perceptions of plan sponsors and advisors.

Key Findings

Two years ago, advisors were far less sanguine than sponsors about plan participants’ retirement readiness. Those views have begun to converge, with advisors less pessimistic and sponsors less optimistic. Both advisors and sponsors see the need to improve retirement outcomes for plan participants:

  • In tandem with evolving views of retirement readiness, sponsors are beginning to see participant education as an aspect of financial wellness
  • Sponsors are looking for expert guidance on a broader range of issues than two years ago, including alternative plan structures, cybersecurity, financial wellness and special needs caregivers
  • Sponsors still are behind the curve in using risk-assessment tools to gauge the suitability of investments. They will need advisors to fill this gap
  • Sponsors do not always recognize the services advisors provide, potentially leading to confusion about what sponsors get for the fees they pay. Advisors need to communicate their added value more effectively

This information is proprietary and cannot be reproduced or distributed. Certain information may be received from sources Voya Investment Management (“Voya IM”) considers reliable; Voya IM does not represent that such information is accurate or complete. Certain statements contained herein may constitute "projections," "forecasts" and other "forward-looking statements" which do not reflect actual results and are based primarily upon applying retroactively a hypothetical set of assumptions to certain historical financial data. Actual results, performance or events may differ materially from those in such statements. Any opinions, projections, forecasts and forward-looking statements presented herein are valid only as of the date of this document and are subject to change. Nothing contained herein should be construed as (i) an offer to buy any security or (ii) a recommendation as to the advisability of investing in, purchasing or selling any security. Voya IM assumes no obligation to update any forward-looking information.

Neither Voya® nor its affiliated companies or representatives provide tax or legal advice. Please consult a tax adviser or attorney before making a tax-related investment/insurance decision.

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