Fidelity Study: Plan Sponsors Rely More on Advisors, Expand…

Event summary

Fidelity's 17th annual Plan Sponsor Attitudes Study surveyed 1,311 plan sponsors managing retirement plans with at least 25 participants and $3M+ in assets.
70% of sponsors say their plan is achieving objectives, with 41% preferring advisors to have full discretion over investment menu decisions, up from 36% in 2025.
89% of sponsors plan to add new investment options over the next 12 months, with strong interest in target date funds with embedded annuities (55%) and stable value components (52%).
79% of plan sponsors believe participants are saving enough for retirement, a 12-percentage-point increase from last year.

The big picture

Fidelity's study highlights a strategic shift in retirement plan management, with sponsors increasingly outsourcing complexity to advisors and expanding investment options to meet evolving participant needs. This trend reflects broader industry moves toward personalized financial solutions and greater fiduciary support, particularly as economic challenges persist. With $19.9T in assets under administration, Fidelity's insights underscore the scale at which these dynamics are playing out.

What we're watching

Advisor Expansion: How the growing reliance on advisors for fiduciary, legislative, and financial wellness support will reshape retirement plan management.
Investment Innovation: Whether the shift toward target date funds with embedded annuities and stable value components will improve participant outcomes.
Participant Readiness: The pace at which plan sponsors can address rising living expenses while maintaining participant confidence in retirement savings.