Skip to content
Thursday, October 29, 2026 · Today’s edition, 6:30 a.m. ETThu, Oct 29 · 6:30 a.m. editionSign inMy Desk 0EditionsSign in

For retirement advisers, digital tools can't replace the human moment

New MDRT research hands plan advisers a playbook: automate the routine, escalate the high-stakes and volatile moments to a human.

At a glance

  1. Sixty-nine percent of consumers prefer in-person or hybrid communication over digital-only, and 46% say an additional human conversation during market volatility or financial stress would strengthen their trust.
  2. Eighty-five percent of respondents said their adviser's use of digital tools either increased trust or had no effect; the shortfall shows up only when stakes rise.
  3. Millennials are significantly more likely than other generations to prefer digital alone, so a single participant-portal playbook will mismatch trust somewhere.

New MDRT research, released this week, puts numbers on a dynamic retirement plan advisers have long felt: digital channels can nudge participants to act, but the moments that decide whether a participant stays are stubbornly human. Sixty-nine percent of consumers prefer in-person or hybrid communication over digital-only, and 46% say an additional human conversation during market volatility or financial stress would strengthen their trust.

Eighty-five percent of respondents said their adviser's use of digital tools either increased trust or had no effect; the shortfall shows up only when stakes rise. Roughly three in ten say digital alone is insufficient for the moments that carry the most weight: 31% for a large investment or property purchase, 30% at the start of a new relationship, and 29% when confusion over complex or technical topics needs resolving. For a retirement plan participant, those are the fiduciary moments—choosing a contribution rate, deciding whether to roll over a 401(k), understanding a target-date fund's glidepath during a selloff. The report's finding that digital communication loses effectiveness when a situation calls for explanation, reassurance, or personal attention maps directly onto those moments.

Millennials are significantly more likely than other generations to prefer digital alone, so a single participant-portal playbook will mismatch trust somewhere. Among consumers who saw problems with digital communication, 27% cited generic or automated messages, 21% could not reach a human, 20% found no clarity about next steps, and 19% felt inundated. That is the shape of a plan sponsor's default participant experience: a monthly email, a chatbot, a long wait for a call back. The Treasury and IRS have proposed electronic-first rollover standards, which this publication covered last week, but the MDRT numbers suggest the better default is electronic-first for routine moves and human-first for rollovers and other high-stakes moves.

The report's recommendation is straightforward: use digital tools for routine updates and information sharing, and prioritize personal conversations for major decisions and complex topics. It also urges advisers to ask clients during onboarding how they prefer to communicate, including meeting format and frequency of contact. That last step is the one plan sponsors almost never take.

The advisers who take it will find the trust advantage. A participant who has told the plan how she wants to be reached is a participant who has already decided the adviser is listening. The other 46%—the participants who want a human when markets fall—will decide where participant trust lands, and they will be watching whether the plan's next communication is a call or a push notification.

Consumers who say digital-only advice is insufficient

  • Large investment or property purchase31%
  • New adviser relationship30%
  • Complex or technical topics29%
Source: MDRT survey via PLANADVISER
Show as table
ItemValue (%)
Large investment or property purchase31%
New adviser relationship30%
Complex or technical topics29%

Reported by the Retirement Advisers desk from PLANADVISER. Published . Corrections

Related

Retirement

Finding a lost 401(k) now starts at Login.gov

A SECURE 2.0 search tool for lost 401(k)s and pensions is live. Whether it helps depends on passing Login.gov's identity check and what old employers actually reported.

Retirement

IRS replaces EPCRS revenue procedure and launches IRA correction system

Revenue Procedure 2026-34 took effect the day it was announced; the new IRA program will take over 60-day rollover waiver requests during 2027 and 2028.

Retirement

Treasury opens 60 million Trump Accounts, but parents must claim them

Baird's Tim Steffen told InvestmentNews the identity-verification claim is required before money can be added or the investment changed.

Retirement

BlackRock survey finds 92% of high-growth plan advisors use AI

The survey of more than 300 plan advisors says existing clients supply a 36% greater share of growth at top practices.

Retirement

High-growth DC practices grew plan assets 121% from 2023 to 2025

High-growth practices kept 90% of clients on average, versus 86% for the broader market, BlackRock's survey found.

Retirement Capital Dailyfrom Private Wealth Daily

Plan menus, in-plan income, rollovers and recordkeepers. Daily at 7:00 a.m. ET.

Free. Every morning. Unsubscribe from any edition in one click.

From other sections