Plan sponsors want better retirement savings outcomes for their employees and are looking to advisors for solutions. The disconnect between what participants need to save and what they’re actually setting aside has employers seeking more hands-on support from their retirement plan advisors.
A recent BenefitsPro article cited Fidelity’s 2025 plan sponsor attitudes survey, which reveals a shift in how employers view advisor value. They want a combination of service and cost efficiency, with clear priorities: improving participant outcomes, boosting employee satisfaction, and optimizing plan design to meet evolving company needs.
The Fidelity data reveals that about three-quarters of plan sponsors who believe their participants are saving enough for retirement report high satisfaction with their advisors. But only 58% of sponsors who worry about inadequate savings feel the same way about their advisor relationships. Even more concerning, fewer plan sponsors this year believe their participants are saving enough compared to four years ago.
Employees face mounting obstacles to retirement savings. Living expenses, healthcare costs, education loans, financial illiteracy, and general market distrust all work against meaningful retirement savings accumulation. These barriers leave plan sponsors looking for advisor expertise to bridge the gap between current savings behaviors and retirement readiness.
Plan sponsors want specific resources from their advisors. Financial planning content, wellness education, and retirement income guidance top their wish lists. About one-third are particularly interested in targeted education meetings for newer employees who may need extra support navigating their benefits.
Financial wellness programs show promise but reveal implementation gaps. While 93% of plan sponsors have implemented wellness programs, only half of employees actually enroll. Many of these programs launched within the past year, suggesting sponsors are actively seeking solutions but struggling with employee engagement.
The complexity of retirement plan management adds another layer of frustration. About half of plan sponsors say the pace of change in retirement plans feels exhausting. Advisors can provide value by helping sponsors understand and adjust plan designs for changing participant needs. With Secure 2.0 compliance requirements approaching, sponsors are shifting focus from plan enhancements to regulatory compliance.
New product options create additional decision fatigue. Retirement income products, health savings accounts, managed accounts, collective investment trusts, updated target date funds, and pooled employer plans all require evaluation. Advisors who provide expertise and insights can help sponsors develop tailored retirement benefits that actually meet employee needs.
“We’re seeing plan sponsors seek more engagement from their advisors to impact participant saving and engagement, especially through financial planning and wellness programs,” said Christopher Alpaugh, head of Defined Contributions Investment Only Sales Group at Fidelity Investments, who was quoted in BenefitsPro.
More than one-third of plan sponsors said they plan to conduct advisor searches. When evaluating potential advisors, they prioritize 401(k) plan knowledge, fiduciary responsibility, and fees. In short, sponsors want advisors who combine technical expertise with genuine accountability for participant outcomes.
For advisors, Fidelity’s research highlights the growing demand for comprehensive retirement plan support that goes well beyond investment monitoring and compliance basics. Plan sponsors are ready to pay for meaningful guidance, and now is the time for advisors to step up with solutions that actually move the needle on participant outcomes.
