Security Benefit Expands Scope of Quarterly Advisor Survey Finding Similarities and Key Differences Among Financial Professionals

Most financial professionals agreed that, prior to the recent military conflict, geopolitical risk and instability were top threats to client portfolios

TOPEKA, Kan.--(BUSINESS WIRE)--After two successful years monitoring the pulse of the Registered Investment Advisor space, Security Benefit expanded the scope of its advisor survey in Q1 to include a broader range of financial professionals within the advice industry.

“We found that advisors share a lot of common views but may differ in various practices while working with clients on their retirement plans,” said Justin Jacquinot, Head of IMO & RIA Sales at Security Benefit. “This quarter’s findings reflect our first expanded survey, offering a diversified view on the markets and economy, while maintaining continuity with our previous surveys.”

Client behavior is generally consistent for most types of financial professionals

Two in five financial professionals believe that 30% or more of their clients spend less than they prudently can in retirement. This finding was consistent across advisor types. Similarly, advisors all expressed consistent reactions to whether their clients were underconfident in their ability to maintain their lifestyle throughout their retirement. Therein lies an opportunity for financial professionals to support clients and help them build confidence in their retirement plan.

Health and long-term care costs top the list of challenges
And are also an opportunity to engage

Overall, 26% of financial professionals find incorporating long-term care and health care costs into their client retirement planning to be the most difficult. This was less so for RIAs, at 23%, versus non-RIAs at 29%. Advisors also reported that client concerns are highest around both health care and long-term care costs. Many advisors likely see this as an opportunity to offer help where it is needed most: half of financial advisors are discussing health care costs more prominently than they did six months ago with similar numbers for RIAs and non-RIAs.

Discussing long-term care costs had a large disparity, as only 29% of RIAs indicated they were discussing the subject more often, versus nearly half (46%) of non-RIAs.

Formal written plans are favored by RIAs
Income strategies are similar

The study also revealed differences in advisors’ formal planning approach. Two in five or 42% of all financial professionals prepare a written retirement plan for at least three-quarters of their clients entering retirement. It is over half for RIAs, but only 34% of non-RIAs.

As income in retirement is a major concern, about half of financial professionals use the bucket strategy most often, where a client’s assets are divided into time-based segments to address income needs. The next most common approach, at 30%, was a total return strategy aimed at seeking the highest return from one pool of money and use that to meet expenses.

Geopolitical Risk and Volatility Remained Key Concern
Advisors Took a More Balanced Approach to Positioning

Global risks were a key concern even before the recent military conflict. However, the nature of those risks was shifting. Rather than inflation or recession, geopolitical instability emerged as the primary concern for client portfolios in 2026, a view that was already taking hold in prior surveys during 2025. It has become a defining factor in how advisors are positioning portfolios by taking a more balanced, risk-aware approach for both advisors and clients.

40% of advisors overall expected to increase allocations to international equities, pointing to a greater emphasis on diversification as global dynamics evolve. Managing downside risk remained a central priority too. Seven in ten (70%) viewed downside protection as a key component of portfolio construction—(almost none viewed it as unimportant). Four in five (83%) were actively using diversification strategies to help mitigate potential losses.

Enhanced Outlook Index

The Financial Professional Outlook Index, which now includes the wider advisor population, came in at 59 for Q1, reflecting modestly strong sentiment across the financial professional landscape.

“Advisors and their clients are finding ways to stay prepared as global conflicts and economic pressures remain high,” added Jacquinot. “Rather than pulling back from markets, advisors are building greater resilience into portfolios through diversification and downside protection while offering guidance on meeting future needs.”

Methodology
In February 2026, Greenwald Research surveyed 202 financial professionals from across the United States, including registered investment advisors (RIAs), hybrid advisors, and non-RIA financial professionals, each managing significant assets and directly interacting with clients. The online questionnaire collected data on advisors’ economic outlook, business practices, financial product usage, and client dynamics.

Quotas were set to include 50 pure RIAs, 50 hybrid RIAs, and 100 non-RIA financial professionals, allowing for comparisons across channels while maintaining continuity with prior RIA-focused research.

About Security Benefit
SBL Holdings, Inc. (“Security Benefit”), through its subsidiary Security Benefit Life Insurance Company (SBLIC), a Kansas-domiciled insurance company that has been in business for 134 years, is a leader in the U.S. retirement market. As of December 31, 2025, Security Benefit had $60.4 billion in assets under management, and together with its affiliates offers solutions across a range of retirement markets and wealth segments. Security Benefit, an Eldridge Industries business, continues its mission of helping Americans To and Through Retirement^®. Learn more at www.securitybenefit.com and follow us on LinkedIn, Facebook, and X.

About Greenwald Research
Greenwald Research is a leading independent research and consulting partner to the health and wealth industries that applies quantitative and qualitative research methods to produce insights that help companies stay competitive and navigate industry change. Leveraging deep subject matter expertise and a trusted consultative approach since 1985, Greenwald offers comprehensive services to answer strategic business questions.

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