Advisors can bring both financial and emotional benefit to participants in 403(b) plans, according to a new study.

Participants in 403(b)s—chiefly teachers in U.S. public schools—can benefit from what an advisor can bring to the table, according to the study "Enhancing Outcomes, The Value an Advisor Brings to K-12 Participant Preparedness and Account Performance in 403(b) Plans" from retirement services provider AXA US.

The study found that those who used an advisor had a 34 percent higher median balance in their accounts than those who had the option to use an advisor, but did not do so.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.