Close to half of all companies (44 percent) provide online, third-party investment advisory services to individuals, according to a new survey.
Aon Hewitt released this finding in its “2014 Hot Topics in Retirement Survey,” the company’s eighth annual report on retirement issues of concern to employers. The report examines, among other developments, retirement plan initiatives slated for 2014, trends in defined contribution and defined benefit plans, and levels of confidence that employers have in their retirement programs.
“Employers are providing access to experts and professionally designed tools that can recommend individual investment strategies based on a person’s expected retirement date and other income sources,” the report states.
The survey indicates that more than one-third (35 percent) of employers facilitate the interaction of plan participants with third-party investment advisors through the phone. And nearly one-quarter (23 percent) allow for face-to-face meetings with professional advisors.