Pension Advisors Are Worth Their Fees: Survey

Plan sponsors in a study published this week by Morgan Stanley at work reported a positive effect and value in having a plan advisor oversee their workplace pension plan to drive participation and results.

According to to research. This alleviates internal concerns, adds value to the attendee experience and lessens the pressure of administrative tasks. Those with advisors overwhelmingly said the cost was worth it.

Plan sponsors cited investment management as the top reason they consider advisory services, followed by advice on fiduciary and regulatory matters. They also saw relationship building – including accessibility, responsiveness and consistency – as key to the growth of corporate pension plans.

“Financial advisors are an often overlooked resource that can enhance and support the work of business plan sponsors, while forging valuable, long-term relationships with their most critical talent,” Anthony BunnellMorgan Stanley at Work’s retirement manager, said in a statement.

Morgan Stanley has invested heavily in the pension plan channel since it bought stock plan administrator Solium Capital, now Shareworks by Morgan Stanley, in 2019.

“As we’ve said before, we view the channel as a funnel for acquiring customers and assets to support growth going forward,” Morgan Stanley CEO James Gorman said during the talk. an earnings call in January. We now have over $500 billion in unearned assets and plan to retain an increasing proportion of those assets as they are acquired.


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