Sponsors of 401(k) plans are less satisfied by the efforts of service providers, making those plan decision-makers less loyal to incumbents and less likely to promote their services.
Chatham Partners, a Waltham, Massachusetts-based research analyst for the financial services and retirement plan industry, surveys 11,000 plan sponsors annually and gauges their satisfaction with service providers based on a proprietary algorithm.
This year, 57 percent of those sponsors say they are loyal to their service provider, a decrease of 6 percent from 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.
