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Plan sponsors would be unlikely to pay for the services of financial advisors if they didn't believe they added value. However, many advisors could do a better job of reinforcing the value they bring to the table.
"The best consultants we work with do a really good job of communicating their value," says Andy Strandquist, retirement plan counselor for Capital Group. "They are excellent at creating a value proposition statement and go out to plan sponsors and make it very clear what that is. It can be as simple as `This is what our philosophy is from an investment standpoint. This is how we are going to help you as a plan sponsor and help educate your participants.' The best advisors tend to communicate that clearly."
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