The quality of the advice provided varies depending on whether it comes from a full-service source or stepped down from mid level all the way to self-service. (Photo: Fotolia)

The substance and quality of advice people get on financial actions vary, depending on whether they’re getting that advice on a retail level or at the workplace.

So says a new report from Hearts & Wallets, which points out that there’s some broad variation between the two sources, with workplace financial advice mostly focused on 401(k)s while retail advice tends to “consider more goals and account types,” in addition to urging clients to save at higher levels than workplace-provided advice.

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Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

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