New Voya Financial Research Highlights Expanding Role Advisors Can Play to Support Small Businesses Beyond Retirement Plans
More than 9-in-10 owners would find greater value from plan advisors who can help with employee retention, executive compensation, and other business challenges
As communities across the country prepare to celebrate our nation’s 250th anniversary, new research from Voya Financial, Inc. (NYSE: VOYA) reinforces both the enduring importance of small businesses and the opportunity that owners and the advisors who support them have to improve the long-term viability of those businesses.
The research finds that 88% of Americans would be disappointed to lose a favorite local business1. Meanwhile, 77% were unsure if that business would still be around in five to ten years. This underscores the vital role that main street businesses play in building and sustaining strong local identity and carrying forward the community spirit that has long defined the nation.
“At a time when we’re reflecting on the spirit of American enterprise that built this country, small businesses remain central to our communities,” said Amy Vaillancourt, president of Retirement, Voya Financial. “What’s changing is that more owners are looking beyond day-to-day operations and traditional retirement plan support – and turning to trusted advisors to help sustain and grow their businesses for the long term while expanding access to the financial plans, benefits and guidance that enable employees to build more confident, secure futures.”
