Diversified, a retirement plan administrator, released a study Monday that predicts plan sponsors will rely more heavily on retirement plan advisors as the demand for holistic planning services grows.
While the study, “Prescience 2015: Expert Opinions on the Future of Retirement Plans,” found just 10% of plan sponsors will likely switch providers through 2015, 35% said they will use the services of a professional retirement plan advisor.
“The emergence and organization of professional retirement plan advisors will have a profound impact on our business over the next five years,” Joe Masterson, senior vice president for Diversified, said in a statement. “These professionals are dedicated to the retirement plans business, and therefore are well-suited to understanding plan compliance, designing appropriate fund arrays, positively impacting plan design and helping participants achieve funded retirements.”