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.
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