The survey, sponsored by the SPARK Institute and conducted by Cerulli, found that 89 percent, of respondents indicate a high level of trust in retirement plan providers. (Photo: Shutterstock)
When compared with the public sector or associations, the financial services sector is “overwhelmingly” trusted more for its expertise in administering financial assets and retirement savings programs by small business owners.
That's according to a recent survey sponsored by the SPARK Institute and conducted by Cerulli Associates, which found that in ranking third parties, including local or state government, associations such as the U.S. Chamber of Commerce and large financial services firms, respondents favored retirement plan providers instead of state and government entities for administering retirement plans.
The report said that 89 percent, of respondents indicate a high level of trust in retirement plan providers, compared to 53 percent for state governments.
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
