PLANADVISER - November/December 2018 - 32

This year's findings indicate some changes in how
advisers approach investment lineup construction. When
asked how the number of investment options in their clients'
defined contribution (DC) plan lineups had changed over the
past year, only 10% said these had increased-sharply less
than the 66% who had said this last year. Sixty-five percent
said the number of options had stayed the same, compared
with 27% in 2017, and many more advisers this year-25%
vs. 8% in 2017-said the options had decreased.
With discussion of participants' poor saving behaviors
and lagging retirement readiness pervading the retirement
industry, many advisers expressed at least some doubt that
their clients' workers will achieve retirement income goals
by age 65. While 8% and 27% of advisers said they are " very
confident " or " confident, " respectively, that their participants
will achieve their desired retirement income by their
intended retirement date, 44% said they are just " somewhat
confident, " 16% said " only a little confident, " 4% said " not
at all confident, " and 1% said " unsure " -a total of 65% less
than confident.
It is not surprising then that more advisers (13%) project
Respondent Profile
Total retirement plan assets under advisement
Total
<$10mm
$10mm - $100mm
>$100mm - $200mm
>$200mm - $400mm
>$400mm - $800mm
>$800mm - $1b
>$1b - $2b
>$2b
Adviser firm affiliation
2018
l National full-service wirehouse
l Dually registered*
l Registered investment adviser
l Independent broker/dealer
l Insurance or bank broker/dealer
l Regional broker/dealer
l Other
28%
27%
23%
12%
2%
2%
6%
*Registered investment adviser (RIA) and broker/dealer (B/D)
2017
34%
22%
25%
10%
1%
1%
7%
2018
3%
that retirement income discussions with clients' participants
will be their " most significant growth strategy " next year;
figures for that category rose 6 percentage points from 2017.
Other areas advisers plan to focus on developing in 2019
include participant advice/education (27%), nonqualified
deferred compensation (NQDC) plans (21%), plan/fee benchmarking
(18%), other workplace benefits (16%), and defined
benefit (DB) plans (15%). -Amanda Umpierrez
METHODOLOGY. This past September, about 15,000 subscribers
to PLANADVISER were asked to respond to a 37-question survey
developed by the PLANADVISER editorial and research teams.
Survey questions pertained to size and scope of advisers' qualified
plan business, practice management, compensation and client
services, as well as their assessments of investment managers,
mutual funds and defined contribution plan providers. The provider
assessment results appeared in the 2018 PLANADVISER Retirement
Plan Adviser Survey in our September/October issue. At the close
of the survey, 337 complete responses had been received from
retirement plan advisers. For more information and for additional
research available, please contact surveys@strategic-i.com.
Top Concern
Top Growth Area Other
Than 401(k) Plans
Compliance/Fiduciary
10% Competition/Differentiation
8%
19%
Practice management
Adding new clients
12% Practice management
4%
13%
28%
Participant education
Fee compression
Fee compression
Retirement income
Fiduciary services
Referrals
Fiduciary services
Strategic partnerships
Fiduciary services
Referrals
Strategic partnerships
Locations
7.3
4.6
2.1
1.8
1.4
1.9
2.8
3.5
In Practice
29.5
10.8
5.4
4.4
3.5
2.6
13.8
11.6
Support Staff
In Practice
56.7
14.8
4.3
4.7
4.2
3.3
12.9
24.3
Avg # of
Office
Avg # of
Advisers
Avg # of
2017
32 | planadviser.com November-December 2018

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PLANADVISER - November/December 2018

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