Registered investment advisors are responding to cost-conscious plan sponsors' needs by broadening investment options, and increasingly incorporating passively managed mutual funds.

The results from a Cogent Reports study, which surveyed 437 advisors with a minimum of $5 million in assets under management, show significant changes in how RIAs are designing plan menus. Two-thirds of the advisors surveyed are now including passively managed funds, compared to 54 percent last year.

They are also using more fund managers. On average, 5.7 investment managers are now being deployed, compared to an average of 3.9 last year.

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Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.