Retirement Wellness

Four Opportunities to Influence Retirement Plan Decision-Makers

June 28 2022
Transcript

Hello. We just wrapped up a research study with 32 of the nation’s largest retirement consulting and advisory firms.

We hope that our findings can help clients take their businesses – and retirement plans – to the next level. Let’s take a look at four key trends we found here.

First, the industry is evolving. Many firms are improving profitability and growth by:

  • broadening and/or standardizing service offerings,
  • upgrading technology, and
  • streamlining operations.

Many still are embracing legislative change that opened the door to offer pooled employer plans, or PEPs. In fact over 20% of the firms we spoke with either offer, or are developing, a PEP. The second trend we saw was a focus on retirement income.

Many plans today not only help workers accumulate assets, but also serve retired participants who are increasingly keeping assets in-plan – a major business opportunity for financial professionals who can offer guidance.

Third, asset trends. With respect to plan sponsor and financial professional selectivity, we’re seeing lot of interest in:

  • incorporating active investment strategies in some capacity;
  • environmental, social, and corporate governance, or ESG strategies;
  • diversity, equity, and inclusion, or DE&I;
  • and stable value offerings – especially as an alternative to money market strategies.

The fourth major trend was financial wellness. In response to the “great resignation,” employers are more aware of the need for financial wellness. But they may need your help in evaluating and implementing these programs.

We’ve only scratched the surface of this study. For more, visit our website or reach out to your T. Rowe Price consultant. Thanks and have a great day.

Key Insights

  • We just wrapped up a research study with 32 of the nation’s largest retirement consulting and advisory firms.
  • Four key opportunities stood out–evolving plan dynamics, legislative change, asset trends, and financial wellness.   
  • We hope that financial professionals can utilize the insights we’ve gained around these topics to better serve their clients. 

Important Information

This material is provided for informational purposes only and is not intended to be investment advice or a recommendation to take any particular investment action.

The views contained herein are those of the authors as of February 2022 and are subject to change without notice; these views may differ from those of other T. Rowe Price associates.

This information is not intended to reflect a current or past recommendation concerning investments, investment strategies, or account types, advice of any kind, or a solicitation of an offer to buy or sell any securities or investment services. The opinions and commentary provided do not take into account the investment objectives or financial situation of any particular investor or class of investor. Please consider your own circumstances before making an investment decision.

Information contained herein is based upon sources we consider to be reliable; we do not, however, guarantee its accuracy. Actual future outcomes may differ materially from any forward-looking statements made.

Past performance is not a reliable indicator of future performance. All investments are subject to market risk, including the possible loss of principal.

Money market and stable value funds have different risks. It is important that you carefully review the legal documents for each type of vehicle prior to investment to determine if it is appropriate for you.

T. Rowe Price Investment Services, Inc., and T. Rowe Price Associates, Inc., investment advisor.

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NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE |

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