“There are a lot of solutions that advisors can bring but it starts with that conversation and that recognition that a plan sponsor sees that this is a unique need they have to provide a broader benefit to this important part of their population,” she said.
The survey was conducted July 19 through August 4 of last year by Edelman Data and Intelligence on behalf of Nationwide. It included 1,000 plan participants aged 45 and older who work full-time and have access to a 401(k), 403(b), or 457(b) plan through their employer; 500 company plan sponsors, including business executives, business owners, human resources professionals, and financial management professionals; and 300 financial advisors or consultants who advise at least one plan sponsor on investment decisions, financial planning, and options.