And as sponsors shift their mindset to improving outcomes for employees, they're expecting advisors to do so as well. 

Many advisors seem up to the task, as the survey found higher levels of sponsor satisfaction with their services. That said, other findings suggest RIAs should be on notice: half of the sponsors that switched advisors said a lack of plan expertise was the reason for doing so. 

The already competitive advisory world appears to be becoming even more intense. On average, sponsors say they are approached for plan business five times a year. 

The survey found three area RIAs can target and specific actions they can take to improve satisfaction among their clients in the effort to retain and win more business. 1. Help plan sponsors measure progress toward retirement goals

Almost 70 percent of plan sponsors are considering changes to plan design, suggesting their need for improving outcomes. That's twice as many as said they were considering as much in 2012. 

Advisors can guide sponsors as they set outcome goals by including targeted income replacement rate strategies. Helping sponsors implement auto-enrollment, and even auto-escalation features while keeping their fiduciary concerns in mind are ways RIAs can improve participation and savings rates. 

2. Take a holistic approach to investments

Investment expertise will always be central to the RIA role. And it's been put to test of late, as 67 percent of sponsors made menu changes in the past two years, up from 35 percent in 2012. 

But simply designing a menu and handing it over may not suffice going forward, as sponsors are looking for greater support in understanding how their plans can improve outcomes. That means spending more time with sponsors, explaining plan components, and effectively teaching sponsors and investment teams how plans can be optimized, how qualified default investment alternatives can affect outcomes, and how menus can be streamlined to participants needs.

3. Provide regular progress reports

Sponsors are craving communication. Less than 20 percent said their advisors were consistently communicating the activities they perform for the plan. That not only leaves sponsors in the dark, but it also means RIAs are not taking advantage of opportunities to communicate the value proposition of their services. Setting plan performance goals, and routinely reporting on the activities taken to meet those goals can give sponsors a way of measuring progress, and that can confirm their confidence that they are on the road to improving outcomes.

The key is regularly providing updates. Every sponsor in Fidelity's survey said they were highly or very satisfied with those advisors that supply sponsors with regular plan performance updates.