In August 2020, portfolio company Vestwell conducted a survey of financial advisers across the industry to gauge their perception of record keeping technology and the challenges of selling and servicing in the SMB retirement space. Results were published earlier this week.
According to the survey, three in four advisors agree that record keeping is in need of an overhaul. Good thing Vestwell has completely re-architected record keeping from the ground up, while keeping advisors heavy in the mix. Plan sponsors seem to agree that having an advisor is a good thing with 89% saying their advisor adds value to their retirement plan offering. And 97% want their advisors involved in helping their participants with retirement readiness.