Americans Trust Advisors But Doubt Retirement Readiness

New surveys from NFP and Thrivent reveal a significant disconnect between Americans' trust in financial advice and their confidence in achieving retirement readiness. The NFP 2026 U.S. Retirement Trend Report indicates that while 89% of employees trust employer-provided financial advisors, a substantial 69% remain uncertain about their ability to retire comfortably. This uncertainty is exacerbated by rising living costs, economic volatility, and emerging concerns about artificial intelligence.

Despite this apprehension, employees express a strong desire for professional guidance, with 84% stating they would work with a financial advisor if given the chance. One-on-one meetings with financial professionals are identified as the most valuable resource by 62% of respondents. However, significant barriers prevent many from engaging with these services. The primary obstacles cited include insufficient funds for investment (24%) and skepticism about the value of working with an advisor (24%). Additional concerns involve potential fees (20%) and a lack of clarity on how advisors can assist (19%).

Jessica Espinoza, national practice leader for retirement advisory at NFP, highlighted the crucial role of employer-provided advisors in retirement planning. She emphasized that one-on-one guidance is effective for navigating complex decisions and building confidence, but many employees fail to initiate this process. The NFP report also shows a concerning trend in retirement preparedness, with the percentage of employees off track rising from 68% in 2025 to 72% in 2026. This indicates a worsening situation for a majority of the workforce.

Further compounding the issue, 46% of respondents report delaying or being unable to save for retirement because essential expenses like housing and healthcare take precedence. This financial pressure is reshaping retirement expectations and underscores the challenges many Americans face in translating their retirement aspirations into tangible financial security. The combined impact of economic pressures and engagement barriers suggests a critical need for improved access to and utilization of retirement planning resources.