Retirement Trends Report

INTRODUCTION

The rising cost of living and inflation are the primary worries across every generation of American retirement savers.

Combined with complex plan structures and limited investment options, these pressures are fueling a retirement confidence crisis. 64% of savers feel unprepared and uncertain about their financial future, while advisors are facing growing client demand for clarity, control, and comprehensive guidance.

The retirement confidence crisis: What savers and advisors are facing in 2025 reveals the realities behind this growing gap. Based on nationwide survey data, the report uncovers where savers are struggling most, how advisors are responding, and what the industry must do to restore confidence. By understanding these trends, those shaping the retirement landscape can help build a system that empowers more Americans to achieve lasting financial security.

Be the first to read the full report – Sign up here to be notified when the report goes live!

DEMAND FOR PROFESSIONAL ADVICE

91% of financial advisors report that offering services for retirement and college savings accounts has increased demand for their services.

Half of those advisors (43% surveyed) report demand has increased significantly. Clients are increasingly turning to advisors for more than traditional investment guidance; they want holistic support that includes management of retirement accounts like 401(k)s, 403(b)s, and 529s. By expanding their retirement-focused services, advisors are not only meeting client needs but also strengthening relationships and positioning themselves for growth.

LACK OF CONTROL

Only about one-third of retirement savers feel like they have a lot of control in actively making decisions over their investment portfolios.

Many savers feel limited in the choices they can make and uncertain about how to manage their investments effectively. This lack of control contributes to stress and undermines confidence in their retirement readiness. Financial advisors can steer the course by providing clients with clear, holistic strategies and actionable guidance.

COMPLEXITY

Complexity of rules and restrictions is the biggest challenge financial advisors say their clients face.

Nearly one in five advisors say clients have difficulty understanding or navigating complex plan rules, from rollovers to loans to withdrawal restrictions. Another 14% point to a different gap: Clients don’t understand how held-away accounts fit into their bigger financial picture. And for 12% of advisors, fees are the sticking point, as ambiguous or unexpectedly high fees associated with plans make it harder for savers to feel confident.

CLIENT FRUSTRATIONS

76% of advisors report that clients have expressed frustration with retirement/college savings account limitations in the past year.

While many clients express frustration with the limitations of their retirement and college savings accounts, advisors can turn these challenges into an opportunity to build trust and deliver value. Addressing these pain points helps clients feel supported and reinforces the role of the advisor as a partner in achieving their financial goals.

SAVINGS

Savers working with an advisor typically have $50,000–$99,999 in retirement/college savings.

Savers without an advisor are most likely to have under $25,000 in retirement or college savings plans. The data shows that having an advisor is strongly associated with higher savings levels and greater confidence in managing retirement and college accounts.