After two years focused on the RIA market, an advisor survey has been expanded to capture insights from a broader cross-section of financial professionals across the advice industry.
The Security Benefit Q1 study reflects a more diverse set of perspectives while maintaining continuity with prior research, according to Justin Jacquinot, head of IMO and RIA sales at the firm.
“We found that advisors share a lot of common views but may differ in various practices while working with clients on their retirement plans,” said Jacquinot. “This quarter’s findings reflect our first expanded survey, offering a diversified view on the markets and economy, while maintaining continuity with our previous surveys.”
Despite differences in business models, financial professionals reported similar client tendencies. Roughly 40% said at least 30% of their clients are underspending in retirement relative to what they could reasonably afford.
Advisors also largely agreed that many clients lack confidence in their ability to sustain their lifestyle throughout retirement, pointing to a clear opportunity for professionals to reinforce planning strategies and provide reassurance.
Factoring healthcare and long-term care expenses into retirement plans remains one of the most challenging tasks for advisors. Overall, 26% identified it as their biggest difficulty, with slightly fewer RIAs (23%) citing the issue compared to 29% of non-RIAs.
At the same time, client anxiety around these costs is high. About half of advisors said they are placing greater emphasis on healthcare expenses in conversations compared to six months ago, a trend seen across both RIA and non-RIA segments.
However, engagement on long-term care varies widely. Just 29% of RIAs reported increasing discussions on the topic, compared with 46% of non-RIAs.
The survey also highlighted a divide in how advisors approach formal retirement planning. While 42% of financial professionals said they provide written plans to at least three-quarters of clients nearing retirement, the figure exceeded 50% among RIAs but dropped to 34% for non-RIAs.
When it comes to generating retirement income, practices were more aligned. About half of respondents rely primarily on a bucket strategy, segmenting assets by time horizon to meet income needs. Another 30% favor a total return approach, drawing income from a single, growth-oriented portfolio.
Global uncertainty continues to weigh heavily on advisors, with geopolitical instability overtaking inflation and recession as the leading concern for client portfolios in 2026. This shift had already been building through 2025 surveys.
In response, advisors are adjusting allocations and emphasizing risk management. Four in 10 expect to increase exposure to international equities, signaling a stronger focus on diversification as global conditions evolve.
Risk mitigation remains central. Seven in 10 advisors identified downside protection as a critical element of portfolio construction, while 83% are actively using diversification strategies to limit potential losses.
The newly broadened Financial Professional Outlook Index registered a reading of 59 for Q1, indicating moderately positive sentiment across the advisor landscape.
“Advisors and their clients are finding ways to stay prepared as global conflicts and economic pressures remain high,” added Jacquinot. “Rather than pulling back from markets, advisors are building greater resilience into portfolios through diversification and downside protection while offering guidance on meeting future needs.”
The survey included 50 pure RIAs, 50 hybrid RIAs, and 100 non-RIA professionals, enabling comparisons across advisor channels while maintaining consistency with earlier RIA-focused studies.
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