Concerns and Expectations What is the Top Concern Facing Your Practice Today? 2019 Adding new clients Fee compression Competition/Practice differentiation Staffing Government regulation Practice management Client retention Compliance/Fiduciary issues Marketing Participant communication/education Technology Profitability Overall economy Plan sponsor communication/education Succession planning Fee disclosure/transparency 2018 43% 28% 43% 39% 29% 25% 27% 25% 21% 23% 21% 29% 18% 14% 17% 22% 17% 18% 14% 20% 11% 13% 7% 11% 4% 5% 3% 10% 3% 12% 1% How Confident Are You That Most of Your Plan Sponsor Clients' Employees Will Achieve Their Retirement Income Goals by Age 65? 2019 Very confident Confident Somewhat confident Only a little confident Not at all confident Unsure 2018 10% 8% 28% 27% 43% 44% 14% 16% 4% 0% 4% 1% What Do You Predict Will Be the Most Significant Growth Area/Strategy for Your Practice in the Next 12 Months? 2019 401(k) plans Participant advice/education Strategic partnerships 403(b) plans Fiduciary services Referrals Nonqualified deferred compensation plans Rollovers Defined benefit plans Plan/Fee benchmarking Retirement income discussions Health care plans Retirement income products Target-date funds 6% Fee disclosure Exchange-traded funds Other workplace benefits 2018 75% 51% 29% 27% 27% 36% 25% 13% 21% 34% 19% 30% 17% 21% 14% 9% 8% 15% 7% 18% 5% 13% 4% 3% 2% 1% 0% 7% 16% In Terms of the Number of Investment Options on Your Defined Contribution Plan Client Lineups, Have the Number of Funds Changed in the Past Year? 2019 The number of funds on DC plan lineups have increased for many/most of my DC clients The number of funds on DC plan lineups have stayed the same for many/most of my DC clients The number of funds on DC plan lineups have decreased for many/most of my DC clients 2018 8% 10% 59% 65% 32% 25% Want to See More Information From This or Other Surveys? Data from the Practice Benchmarking Survey is available in Excel format, as is the case with many other surveys from PLANADVISER and PLANSPONSOR. Contact Michelle.Judkins@issmediasolutions.com for information, pricing and sample files. 30 | planadviser.com November-December 2019 4% 4% 3% 2% 1%http://www.planadviserdigital.com/planadviser/november_december_2019/TrackLink.action?pageName=30&exitLink=mailto%3AMichelle.Judkins%40issmediasolutions.com http://www.planadviserdigital.com/planadviser/november_december_2019/TrackLink.action?pageName=30&exitLink=http%3A%2F%2Fplanadviser.com