Workplace plan sponsors are increasingly doing more than just overseeing 401(k) accounts. New research from Fidelity shows that many are evolving into full-service financial planning resources for employees — a shift advisers say could have significant implications for the broader wealth management industry.
The survey of 1,144 plan sponsors found their primary concern is whether their plan is adequately equipping participants for financial security in retirement. In addressing this concern, plan advisers have become an essential resource.
