Access to a financial advisor for retirement planning guidance is of such importance to American workers, it can inform their decisions of where to work.
That’s according to seven in ten HR professionals who participated in the latest Morgan Stanley at Work research which reveals that 54% of employees agree that being able to get professional financial advice can be a dealbreaker (60% among those who participate in their company benefits.)
With demand for retirement planning advice growing, advisor access is cited as the most valued type of assistance, with goals-based retirement investment planning and retirement income solutions completing the top three.
Economic concerns are intensifying retirement planning advice with employees fearing inflation and recession, which is prompting more employees to cut back on their 401(k) contributions. Gen Zs are most likely to be doing this, but across all generations 67% said they are reducing contributions to all savings accounts.
“In the face of economic uncertainty, it is clear that comprehensive retirement benefits are essential for individual financial security, while also serving as a critical lever to retain top talent,” said Jeremy France, Head of Institutional Consulting Solutions at Morgan Stanley. “Our findings emphasize that modern workplace retirement plans go beyond simply offering a 401(k) and match; they now integrate ongoing financial advisory, investment planning and income solutions. This next generation of workplace retirement plans—especially those which include ongoing planning and consultancy support—are a strategic asset that can help companies foster employee loyalty and business stability in any environment.”
Previously released research from Morgan Stanley at Work reveals that concerns about money are negatively impacting both work and life for most employees; 66% said so, up four percentage points compared to 2024.
Meanwhile, a study from Nuveen and the TIAA Institute found that 401(k) savers say retirement income security should be a shared responsibility with employers and that fixed annuity options are of growing interest among employees.
By listening for what truly matters and where clients want to make a difference, advisors can avoid politics and help build more personal strategies.
JPMorgan and RBC have also welcomed ex-UBS advisors in Texas, while Steward Partners and SpirePoint make new additions in the Sun Belt.
Counsel representing Lisa Cook argued the president's pattern of publicly blasting the Fed calls the foundation for her firing into question.
The two firms violated the Advisers Act and Reg BI by making misleading statements and failing to disclose conflicts to retail and retirement plan investors, according to the regulator.
Elsewhere, two breakaway teams from Morgan Stanley and Merrill unite to form a $2 billion RIA, while a Texas-based independent merges with a Bay Area advisory practice.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
