According to the results of American Express’ 2000 participant satisfaction survey of 546 defined contribution plan participants, those who have self-directed brokerage funds in their plans are:
- 11% happier with their investment options,
- 10% more likely to be satisfied with the plan overall,
- but are also 10% more likely to want assistance in allocating their funds.
In addition, these participants are more likely to be satisfied with:
- overall account access,
- options available, and
- the rate of return on their investments.
The survey also found that participants who have a self-directed brokerage option in their retirement plans are:
- almost 20% more likely to want more information on specific investment options in their plans.
- 12% less likely to want to learn more about 401(k) plan features,
- more interested in the topic of investing strategies