Most Employees Don't Receive Retirement Advice, Study Finds

A majority of employees don’t receive advice on their retirement investments, according to Betterment for Business’ State of Consumer Retirement Advice survey. The study found 53 percent of respondents said they don’t receive advice on their retirement investments and for the 47 percent who do seek advice, 65 percent of them use a financial adviser.

In addition, despite changes to the industry with the Department of Labor’s Fiduciary Rule, 79 percent said they “fully trust” or place “a lot of trust” in their advisor.