Today, Fidelity Investments® released findings from its 17th annual proprietary Plan Sponsor Attitudes Study, revealing that plan sponsors are increasingly relying on advisor expertise, exploring innovative investment solutions, and enhancing educational programs to strengthen retirement outcomes and support the long-term financial well-being of plan participants.

The study, which surveyed more than 1,300 plan sponsors managing retirement plans across a broad range of recordkeepers, found growing satisfaction among sponsors in both their retirement plans and the advisors supporting them. Nearly 70% of sponsors say their plan is achieving its objectives, while interest in advisor-led outsourcing continues to increase, with 41% preferring advisors to have full discretion over investment menu decisions, up from 36% in 2025.

“One of the clearest themes in this year’s research is the growing trust plan sponsors place in their advisors and their increasing willingness to turn to outside expertise as retirement plans become more complex,” said Mike Manosh, Defined Contribution Investment Only (DCIO) sales lead at Fidelity Investments. “This year’s findings show sponsors are thoughtfully balancing advisor guidance, evolving investment capabilities, and education to help meet changing participant needs and improve retirement outcomes.”

The Advisor Advantage
Plan sponsors are increasingly turning to advisors for guidance and seeing the value of those relationships. Today, 93% of sponsors surveyed work with an advisor as they navigate plan design and investment decisions, market complexity, and long-term retirement plan strategy. As a result, advisors are becoming more competitive and continue to enhance their value proposition through expanded service offerings. Over the past year, the most added services were financial planning and advice (48%), followed by broader benefits strategy consulting (42%). Employee education (42%) and advisor-managed accounts (42%) tied as the third most frequently added service.

Plan sponsors report that they are most commonly turning to their advisors for support on industry, legislative, and fiduciary issues (56%), individual retirement planning assistance for employees (53%), analysis of plan metrics and recommendations (52%), and financial wellness education (52%). These findings underscore the growing importance of advisor expertise as sponsors seek to address evolving participant needs and an increasingly complex retirement landscape.

“The role of the advisor continues to expand as plan sponsors look for support across every aspect of retirement plan management,” Manosh said. “From navigating fiduciary responsibilities to helping employees prepare for retirement through financial wellness and personalized planning support, advisors are increasingly serving as strategic partners to help plan sponsors meet their goals.”

Expanding Investment Options
Plan sponsors are expanding the range of investment solutions available to participants as they look beyond traditional plan menus to deliver greater choice and flexibility. Nearly nine in 10 sponsors (89%) plan to add new investment options over the next 12 months to provide greater choice and flexibility for participants.

Among plan advisors, target date funds with embedded annuities (55%) and target date funds with stable value components (52%) generated the strongest interest, followed by managed accounts (41%) and active exchange-traded funds (31%). More than half of plan sponsors (52%) are also considering replacing their current target date funds, with most favoring options that may be more expensive but have historically delivered stronger net-of-fee performance.

Participant Retirement Readiness
Despite ongoing economic challenges, sponsor confidence in their plans’ ability to support participant retirement readiness continues to grow, with 79% of plan sponsors believing participants are saving enough for retirement, a 12-percentage-point increase from last year. This optimism comes even as participant concerns about rising living expenses have increased, reaching 49%, up 1.6x year-over-year.

Looking ahead, plan sponsors intend to continue improving plan outcomes by enhancing employee-focused content and education, with an emphasis on financial planning (37%), retirement income (36%), and retirement plan investment options (35%) over the next 12 months to help participants make informed decisions and maintain progress toward their long-term retirement goals.

These findings further emphasize the growing value of advisor support. As sponsors navigate an increasingly complex retirement landscape, advisors are helping them better address participant needs, evaluate investment options, and deliver participant education that strengthens plan outcomes.

Additional information on the survey, as well as resources and tools, including fund analytics and details on investment options, can be found at https://institutional.fidelity.com/advisors/insights/series/plan-sponsor-attitudes-survey.

Plan Sponsor Attitudes Study: Methodology
The 2026 Plan Sponsor Attitudes Study was an online survey of 1,311 plan sponsors on behalf of Fidelity. Fidelity Investments was not identified as the survey sponsor. The survey was conducted during the month of January 2026. Respondents were responsible for, or participated in, managing their organization’s 401(k) plan. All plan sponsors confirmed their plans had at least 25 participants and at least $3 million in plan assets. Though the survey is broad in scope, the experiences of the plan sponsors participating in the survey may not be representative of all plan sponsors. Fidelity surveys have been conducted since 2008, with surveys completed in 17 of the past 18 years.

About Fidelity Investments
Fidelity’s goal is to strengthen the financial well-being of our customers and deliver better outcomes for the clients and businesses we serve. Fidelity’s strength comes from the scale of our diversified, market-leading financial services businesses that serve individuals, families, employers, wealth management firms, and institutions. With assets under administration of $19.9 trillion, including managed assets of $7.8 trillion as of June 30, 2026, we focus on meeting the unique needs of a broad and growing customer base. Privately held for 80 years, Fidelity employs more than 80,000 associates across North America, Europe, and Asia-Pacific. For more information about Fidelity Investments, visit https://www.fidelity.com/about-fidelity/our-company.

Not NCUA or NCUSIF insured. May lose value. No credit union guarantee.
Unless otherwise expressly disclosed to you in writing, the information provided in this material is for educational purposes only. Any viewpoints expressed by Fidelity are not intended to be used as a primary basis for your investment decisions and are based on facts and circumstances at the point in time they are made and are not particular to you. Accordingly, nothing in this material constitutes impartial investment advice or advice in a fiduciary capacity, as defined or under the Employee Retirement Income Security Act of 1974 or the Internal Revenue Code of 1986, both as amended. Fidelity and its representatives may have a conflict of interest in the products or services mentioned in this material because they have a financial interest in the products or services and may receive compensation, directly or indirectly, in connection with the management, distribution, and/or servicing of these products or services, including Fidelity funds, certain third-party funds and products, and certain investment services. Before making any investment decisions, you should take into account all of the particular facts and circumstances of your or your client’s individual situation and reach out to an investment professional, if applicable.

Information presented herein is for discussion and illustrative purposes only and is not a recommendation or an offer or solicitation to buy or sell any securities. Views expressed are as of September 2026, are based on the information available at that time, and may change based on market and other conditions. Unless otherwise noted, the opinions provided are those of the authors and not necessarily those of Fidelity Investments or its affiliates. Fidelity does not assume any duty to update any of the information.

Keep in mind that investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money. The information provided herein is general and educational in nature and should not be construed as legal advice or opinion.

You must make a determination whether an investment in any particular security or securities is consistent with your client’s investment objectives, risk tolerance, and overall financial situation. IMPORTANT: All data and information are from the following sources unless otherwise specified:

Survey summary: Harris Insights and Analytics, an independent market research company, conducted an online survey of 1,311 plan sponsors on behalf of Fidelity. Fidelity Investments was not identified as the survey sponsor. The survey was conducted during the month of January 2026. Respondents were identified as the primary person responsible for managing their organization’s 401(k) plan. All plan sponsors confirmed their plans had at least 25 participants and at least $3 million in plan assets. Though the survey is broad in scope, the experiences of the plan sponsors participating in the survey may not be representative of all plan sponsors.

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