business woman and man Last year, nearly 4 in 10 sponsors said they were actively looking for a new plan advisor—an all-time high in Fidelity’s survey’s history. This year, 22% claim to be actively looking to switch advisors, still historically high, said Fidelity’s Burgess, but down markedly. (Photo: Shutterstock)

When Fidelity released its annual Plan Sponsor Attitude Study last summer, industry was in the thick of implementing the Labor Department’s fiduciary rule.

The regulation’s impartial conduct standards had already been implemented, making advisors and brokers to 401(k) plans with less than $50 million in assets fiduciaries and requiring them to put the best interest of plan sponsors and participants before their own.

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

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical 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 events.
  • Access to other award-winning ALM websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

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.

More from this author


Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including and
  • Exclusive discounts on and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.