Business 401(k) Services / 401(k) Plan Optimization
Overall Client Satisfaction Rating: 96%
In a client satisfaction survey, 96% of respondents gave Fisher Investments 401(k) Solutions a “Best-in-Class” score for overall satisfaction.
Client feedback is vital to any organization, and it is especially important to Fisher Investments 401(k) Solutions as it helps uncover how well a company is doing at meeting and exceeding client expectations for 401(k) plan management and employee support. Here is some of what Fisher Investments 401(k) Solutions heard in the 2023 client satisfaction survey. All results are as of 01/01/2024.
- Easy to do Business with: 95% of respondents gave us a "Best-in-Class" score.
- Overall Client Satisfaction: 96%, higher than the industry benchmark of only 58%.
- Overall Retirement Industry Knowledge/Expertise: 96%, higher than industry benchmark of only 68%
- Support with Managing Fiduciary Responsibility: 98% of respondents gave us a "Best-in-Class" score.
- Investment Management Expertise: 94% of respondents gave us a "Best-in-Class" score.
- Treats Clients with Importance: 92% of respondents gave us a “Best-in-Class” score.
- Would Recommend to Others: 94%, higher than the industry benchmark of only 56%.
- Assists with Plan Governance: 96%, higher than the industry benchmark of only 58%.
| Attributes | Fisher 401(k) | Benchmark | ||
|---|---|---|---|---|
| Overall Satisfaction with Fisher Investments | 96% | 58% | ||
| Is reliable | 96% | 66% | ||
| Expertise to manage fund lineup | 95% | 63% | ||
| Provides attractive investing solutions | 91% | 57% | ||
| Treats me as an important client | 92% | 59% | ||
| Offers a full range of services | 94% | 60% | ||
| Provides good value for the money | 88% | 56% | ||
| Easy to do business with | 95% | 59% | ||
| Has helpful support staff | 96% | 54% | ||
| Would recommend to others | 94% | 56% | ||
| Proactively offers new ideas and solutions | 83% | 48% | ||
| Has an excellent reputation | 92% | 66% | ||
| Retirement Counselor and Support Team | ||||
| Annual plan review with key stakeholders | 92% | 52% | ||
| Advocating on your behalf with other service providers | 97% | 58% | ||
| Investment management expertise | 94% | 68% | ||
| Assisting with plan governance | 96% | 58% | ||
| Support with managing fiduciary responsibilities | 98% | 61% | ||
| Overall retirement industry knowledge/expertise | 96% | 68% | ||
| Ongoing group and one-on-one educational employee enrollment meetings | 94% | 57% | ||
| Overall Satisfaction with Frequency and Quality of Contact | 91% | 56% | ||
| Satisfaction with Phone and Virtual Meetings | ||||
| Overall satisfaction | 95% | 54% | ||
| Value | 92% | 50% | ||
| Relationship manager preparedness | 96% | 59% | ||
| Quality of presentation materials | 95% | 59% | ||
| Satisfaction with Other Correspondence (phone emails, update) | ||||
| Overall satisfaction | 94% | 54% | ||
| Frequency | 92% | 49% | ||
| Value | 91% | 58% | ||
| Retirement Counselor Preparedness | 96% | 58% | ||
| Quality of materials / ideas shared | 96% | 59% | ||
| Overall Satisfaction with Support in Managing Plan Success | 93% | 64% | ||
| Investment Reviews | ||||
| Overall satisfaction | 93% | 57% | ||
| Frequency | 91% | 56% | ||
| Quality | 93% | 56% | ||
| Retirement Counselor preparedness | 96% | 60% | ||
| Plan Fees and Expenses Review | ||||
| Frequency | 90% | 50% | ||
| Quality | 91% | 60% | ||
| Value | 87% | 55% | ||
| Overall Satisfaction | 88% | 54% | ||
| Plan Design Review | ||||
| Overall satisfaction | 94% | 59% | ||
| Frequency | 92% | 48% | ||
| Quality | 94% | 67% | ||
| Value | 92% | 64% | ||
| Overall Satisfaction with Fiduciary Support | 96% | 65% | ||
| Fiduciary Responsibilities and Risks | ||||
| Overall satisfaction | 96% | 60% | ||
| Frequency | 94% | 48% | ||
| Quality | 96% | 62% | ||
| Value | 95% | 56% | ||
| Relationship manager preparedness | 98% | 61% | ||
| Overall Satisfaction with Support in Managing Participant Success | 95% | 63% | ||
| Participant Services | ||||
| Participant help desk | 95% | 50% | ||
| Group education/enrollment meetings | 94% | 44% | ||
| Quarterly newsletters | 88% | 49% | ||
| One-on-one meetings | 96% | 56% | ||
Methodology
Fisher Investments 401(k) conducted the client satisfaction survey quarterly, in January, April, July and October of 2023 and January of 2024 Respondents were asked to rate Fisher Investments 401(k) Solutions on the attributes shown in the chart above, using a scale of 1 (very dissatisfied, strongly disagree) to 7 (very satisfied, strongly agree). Ratings of 6 or 7 are considered “Best-In-Class.” We invited 1,110 contacts of current clients of Fisher Investments 401(k) Solutions to participate. A total of 261 contacts (23%) responded. All responses are included in the results. Clients are not compensated to participate in the client satisfaction survey.
A third-party research group, Quest Mindshare, created a benchmark for comparison to the Fisher Investments 401(k) Solutions results. The benchmark was based on survey responses from plan sponsors, people responsible for managing their company’s 401(k) plan. The benchmark survey was sent to 482 people and was completed by 216 respondents. To be included in the benchmark, respondents had to utilize an independent, third-party retirement plan advisor, have final decision-making authority or influence on decisions made for the plan, and have between $1-5MM in assets in their company 401(k).
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