Financial advisors working with defined contribution plans may not be providing the services that plan sponsors want.
According to a new study from Wells Fargo Asset Management, there is often a disconnect between what plan sponsors want and what advisors are confident about providing.
For example, 70% of advisors surveyed found that following through on regulatory and compliance issues is among the most challenging issues they face – which isn’t surprising given the new Labor Department fiduciary rule – but this focus is a priority for plan sponsors.
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Bernice Napach
Bernice Napach is a senior writer at ThinkAdvisor covering financial markets and asset managers, robo-advisors, college planning and retirement issues. She has worked at Yahoo Finance, Bloomberg TV, CNBC, Reuters, Investor's Business Daily and The Bond Buyer and has written articles for The New York Times, TheStreet.com, The Star-Ledger, The Record, Variety and Worth magazine. Bernice has a Bachelor of Science in Social Welfare from SUNY at Stony Brook.
