Small business owners relying on retirement plan advice

Small business owners rely on their financial service professional to help them offer a legal retirement plan, a new survey finds.

Nationwide Financial Services found in a survey of self-described small business owners that 75% of respondents that have an investment professional place strong importance on their ability to understand the company’s unique needs.

In addition, 74% of small business owners said that they value an investment professional’s ability to help them meet their legal responsibilities associated with offering a retirement plan.

Smaller companies say they need the help more. Companies with between five and 50 employees were more likely than those with more than 50 to indicate they need help meeting legal obligations, according to the survey.

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