FSI has partnered with DALBAR to launch a series of brief quarterly surveys to learn more about your thoughts and opinions on regulatory and business issues affecting independent broker-dealer and independent financial advisors. The following includes a summary of the full quarter one survey findings.

1. DALBAR
The Measurement of Success
FSI Quarterly Survey
Awareness Questionnaire
Q1 2010
617-723-6400 DALBAR.COM

2. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
Table of Contents
Purpose, Process & Methodology 4
About Survey Participants – Advisors 5
About Survey Participants – Broker Dealers 8
Changes to rule 12b-1 that limit this form of compensation – Advisors 10
Changes to rule 12b-1 that limit this form of compensation – Broker Dealers 13
Adoption of a uniform fiduciary standard for all advisers (RR’s & IAR’s) – Advisors 16
Adoption of a uniform fiduciary standard for all advisers (RR’s & IAR’s) – Broker Dealers 19
Restrict use of independent contractor status for RR’s - Advisors 22
Restrict use of independent contractor status for RR’s – Broker Dealers 25
Expanded role of FINRA in regulation of non-security products/services - Advisors 28
Expanded role of FINRA in regulation of non-security products/services – Broker Dealers 31
Expanded disclosure of compensation and potential conflicts of interest - Advisors 34
Expanded disclosure of compensation and potential conflicts of interest – Broker Dealers 37
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3. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
Table of Contents
Mandatory automatic IRAs for employers with no other retirement plan - Advisors 40
Mandatory automatic IRAs for employers with no other retirement plan – Broker Dealers 43
401(k) advice regulations to plans and participants - Advisors 46
401(k) advice regulations to plans and participants – Broker Dealers 49
Definition of 401(k) plan advisers as ERISA fiduciaries - Advisors 52
Definition of 401(k) plan advisers as ERISA fiduciaries – Broker Dealers 55
Mandatory lifetime income option for 401(k) plans - Advisors 58
Mandatory lifetime income option for 401(k) plans – Broker Dealers 61
Client Relationship Following Market Turmoil - Advisors 64
Client Relationship Following Market Turmoil – Broker Dealers 66
About DALBAR, Inc. 68
3
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4. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
Purpose, Process & Methodology
• Purpose
• The purpose of this project was to gauge levels of awareness
and/or concern within the investment advisory industry about a
certain selection of topics.
• Process
•Invitations were sent to members of the Financial Services Institute
to participate in a survey created and implemented by DALBAR, Inc.
• Methodology
• 12,248 financial advisers and 1,836 broker/dealer were asked to
participate.
• The survey was conducted between 01/22/10 and 01/27/10
• 380 financial advisers and 72 B/Ds responded, representing
response rates of 3% and 4%, respectively
• Margins of error were 5% and 11% respectively
• 95% confidence level
4
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5. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
Additional Resources
• Results from this survey are presented in this report in the form of
statistics, without segmentation analysis, opinion or commentary.
• Further insights into the issues reported here are available from
DALBAR through supplemental reports and in-person presentations.
• Available supplements include:
– Analysis and recommendations for taking advantage of the results.
– Discussion of practices currently underway in the industry
– Recasting results in a form more suitable to a specific firm.
– Cross-tabulations that reveal a variety of subsets of the aggregate data
presented here.
– Customized surveys of advisers and/or clients.
• For further information contact:
DALBAR, Inc.
Attn: Survey Research
Federal Reserve Plaza
600 Atlantic Avenue
Boston, MA 02210
617-723-6400
surveys@DALBAR.com 5
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6. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
About Survey Participants – Advisors
Under what structure(s) do you operate?
How long have you worked in the securities industry?
What products do you use on a regular basis?
Which category(ies) best describe your primary revenue source(s)?
6
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7. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
Under what structure(s) How long have you worked in the
do you operate? securities industry?
80.0%
72.9%
0-5 years
70.0%
6-10 years
2.4%
9.8%
60.0%
55.8%
50.0%
40.0%
30.0% 28.7%
20.0% 18.7%
10.0%
0.0% Over 10
Registered Rep OSJ IAR of B/D's RIA Own RIA 87.8%
7
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8. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
What products do you use on Which category(ies) best describe
a regular basis? Your primary revenue source(s)?
100.0% 97.6%
80.0%
90.0%
69.21%
70.0%
80.0%
70.0% 60.0%
51.58%
60.0% 50.0%
54.2%
50.0%
40.0% 36.05%
40.3%
38.4%
40.0%
32.1% 30.0%
30.0%
20.0%
20.0%
10.0%
10.0%
3.42%
0.0% 0.0%
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9. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
About Survey Participants –
Broker/Dealers
How long have you worked in the securities industry?
What is your primary area of responsibility?
9
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10. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
How long have you worked What is your primary area
in the securities industry? of responsibility?
0-5 years IT Other
5.6% 1.4% 9.7% Admin.
6-10 years 12.5%
12.5% Capital Branch Offices
Markets 1.4%
1.4%
Ops.
13.9%
Sales
15.3% Legal or
Compl.
Over 10 44.4%
81.9%
10
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11. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
Changes to rule 12b-1 that limit this form of
compensation - Advisors
How aware are you of proposals to limit the use of 12b-1?
How concerned are you about potential limits to 12b-1?
What actions have you taken to prepare for limits to 12b-1?
11
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12. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
How aware are you of How concerned are you about
proposals to limit the use of potential limits to 12b-1?
12b-1?
Unaware No concern
1.5% 4.5%
Somewhat Somewhat
Aware Concerned
Very
26.0% 15.0%
Highly Aware Concerned
35.9% 62.6%
Concerned
18.0%
Generally
Aware
36.5%
12
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13. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
What actions have you taken to prepare for limits to 12b-1?
Have pilot
Plans are in program
place 2.1%
14.5%
Developed a
strategy
21.5% None
61.9%
13
617-723-6400 DALBAR.COM

14. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
Changes to rule 12b-1 that limit this form of
compensation –Broker/Dealers
How aware are you of proposals to limit the use of 12b-1?
How concerned are you about potential limits to 12b-1?
What actions have you taken to prepare for limits to 12b-1?
14
617-723-6400 DALBAR.COM

15. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
How aware are you of How concerned are you about
proposals to limit the use of potential limits to 12b-1?
12b-1?
Somewhat No
Aware Somewhat concern
12.1% Concerned 1.8%
14.0%
Concerned
14.0%
Generally Highly
Aware Aware
55.2%
32.7%
Very
Concerned
70.2%
15
617-723-6400 DALBAR.COM

16. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
What actions have you taken to prepare for limits to 12b-1?
Plans are Have pilot
in place program
7.0% 1.8%
Developed
a strategy
17.5%
None
73.7%
16
617-723-6400 DALBAR.COM

17. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
Adoption of a uniform fiduciary standard for
all advisers (RRs & IARs) – Advisors
How aware are you of fiduciary standards being proposed?
How concerned are you about a new fiduciary standard?
What actions have you taken to prepare for a new standard?
17
617-723-6400 DALBAR.COM

18. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
How aware are you of How concerned are you about a
fiduciary standards being new fiduciary standard?
proposed?
Unaware Very
No concern Concerned
6.9%
Highly 19.3% 22.1%
Aware
Somewhat 29.5%
Aware
24.4%
Generally Somewhat
Aware Concerned
39.2% 58.6%
18
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19. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
What actions have you taken to prepare for a new standard?
Have pilot
program
Plans are in
0.9%
place
14.7%
Developed a
strategy
17.4%
None
67.0%
19
617-723-6400 DALBAR.COM

20. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
Adoption of a uniform fiduciary standard for all
advisers (RRs & IARs) – Broker/Dealers
How aware are you of fiduciary standards being proposed?
How concerned are you about a new fiduciary standard?
What actions have you taken to prepare for a new standard?
20
617-723-6400 DALBAR.COM

21. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
How aware are you of fiduciary How concerned are you about a
standards being proposed? new fiduciary standard?
Somewhat Unaware No concern
Aware 1.7% 10.5%
7.0%
Very
Concerned
Generally 40.4%
Aware
28.1%
Highly
Aware
63.2% Somewhat
Concerned
49.1%
21
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22. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
What actions have you taken to prepare for a new standard?
Have pilot
Plans are in program
place 1.8%
10.9%
Developed a
strategy None
30.9% 56.4%
22
617-723-6400 DALBAR.COM

23. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
Restrict use of Independent Contractor status
for RRs – Advisors
How aware are you of proposals to limit Independent Contractors?
How concerned are you about Independent Contractor limits?
What actions have you taken to prepare for limits?
23
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24. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
How aware are you of proposals to How concerned are you about
limit Independent Contractors? Independent contractor limits?
No concern
Unaware Somewhat 4.8%
10.2% Concerned
11.0%
Somewhat Highly Aware
Aware 40.7% Concerned
21.0%
13.8%
Very
Concerned
70.4%
Generally
Aware
28.1%
24
617-723-6400 DALBAR.COM

25. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
What actions have you taken to prepare for limits?
Plans are in
Developed a place
strategy 2.1%
9.3%
None
88.6%
25
617-723-6400 DALBAR.COM

26. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
Restrict use of Independent Contractor
status for RR’s – Broker/Dealers
How aware are you of proposals to limit Independent Contractors?
How concerned are you about Independent Contractor limits?
What actions have you taken to prepare for limits?
26
617-723-6400 DALBAR.COM

27. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
How aware are you of proposals to How concerned are you about
limit Independent Contractors? Independent Contractor limits?
Somewhat Unaware
No concern
Aware 3.5% Somewhat 5.3%
5.3% Concerned
12.3%
Generally
Aware Concerned
22.8% 14.0%
Highly Very
Aware Concerned
68.4% 68.4%
27
617-723-6400 DALBAR.COM

28. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
What actions have you taken to prepare for limits?
Have pilot
Plans are
program
in place
3.6%
3.6%
Developed
a strategy
14.6%
None
78.2%
28
617-723-6400 DALBAR.COM

29. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
Expanded role of FINRA in regulation of
non-security products/services – Advisors
How aware are you of the FINRA non-securities proposal?
How concerned are you about the FINRA proposal?
What actions have you taken to prepare for a new FINRA role?
29
617-723-6400 DALBAR.COM

30. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
How aware are you of the How concerned are you about
FINRA non-securities proposal? the FINRA proposal?
Highly
Aware Very
10.5% No concern Concerned
21.5% 23.8%
Generally
Aware
Unaware
20.1%
44.5%
Somewhat Concerned
Concerned 25.1%
Somewhat 29.6%
Aware
24.9%
30
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31. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
What actions have you taken to prepare for a new FINRA role?
Plans are Have pilot
in place program
Developed 2.6% 1.9%
a strategy
3.2%
None
92.3%
31
617-723-6400 DALBAR.COM

32. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
Expanded role of FINRA in regulation of non-
security products/services –
Broker/Dealers
How aware are you of the FINRA non-securities proposal?
How concerned are you about the FINRA proposal?
What actions have you taken to prepare for a new FINRA role?
32
617-723-6400 DALBAR.COM

33. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
How aware are you of the FINRA How concerned are you about
non-securities proposal? the FINRA proposal?
No concern
Unaware 7.3%
15.8%
Very
Highly
Aware Concerned
36.8% 36.4%
Somewhat
Concerned
34.5%
Somewhat
Aware
26.3%
Generally Concerned
Aware 21.8%
21.1%
33
617-723-6400 DALBAR.COM

34. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
What actions have you taken to prepare for a new FINRA role?
Plans are
in place
1.9% Have pilot
Developed program
a strategy 1.9%
7.5%
None
88.7%
34
617-723-6400 DALBAR.COM

35. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
Expanded disclosure of compensation
and potential conflicts of interest –
Advisors
How aware are you of proposals to expand disclosures?
How concerned are you about expanded disclosures?
What actions have you taken to prepare for disclosures?
35
617-723-6400 DALBAR.COM

36. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
How aware are you of proposals How concerned are you about
to expand disclosures? expanded disclosures?
Highly
Very
No concern Concerned
Unaware Aware 16.5%
14.4% 19.8%
18.0%
Generally
Aware Somewhat Concerned
31.7% Concerned 28.3%
Somewhat
35.4%
Aware
35.9%
36
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37. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
What actions have you taken to prepare for disclosures?
Plans are
Have pilot
in place
program
8.2%
0.6%
Developed
a strategy
7.3%
None
83.9%
37
617-723-6400 DALBAR.COM

38. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
Expanded disclosure of compensation and
potential conflicts of interest –
Broker/Dealers
How aware are you of proposals to expand disclosures?
How concerned are you about expanded disclosures?
What actions have you taken to prepare for disclosures?
38
617-723-6400 DALBAR.COM

39. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
How aware are you of proposals How concerned are you about
to expand disclosures? expanded disclosures?
Unaware
8.8% No concern Very
Highly 7.1% Concerned
Aware 21.4%
Somewhat 29.8%
Aware
21.1% Somewhat
Concerned
30.4%
Generally Concerned
Aware 41.1%
40.3%
39
617-723-6400 DALBAR.COM

40. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
What actions have you taken to prepare for disclosures?
Have pilot
program
Plans are in 3.8%
place
11.3%
Developed a
strategy
24.5% None
60.4%
40
617-723-6400 DALBAR.COM

41. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
Mandatory automatic IRAs for employers with
no other retirement plan – Advisors
How aware are you of proposals for automatic IRAs?
How concerned are you about the proposals for automatic IRAs?
What actions have you taken to prepare for automatic IRAs?
41
617-723-6400 DALBAR.COM

42. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
How aware are you of How concerned are you about the
proposals for automatic IRAs? proposals for automatic IRAs?
Highly
Aware Very
5.6% Concerned
11.7%
Unaware No concern
33.2% Generally 31.6%
Aware
28.6% Concerned
20.2%
Somewhat
Somewhat
Aware
Concerned
32.6%
36.5%
42
617-723-6400 DALBAR.COM

43. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
What actions have you taken to prepare for automatic IRAs?
Plans are in
place Have pilot
Developed a 2.0% program
strategy 0.3%
2.9%
None
94.8%
43
617-723-6400 DALBAR.COM

44. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
Mandatory automatic IRAs for employers
with no other retirement plan –
Broker/Dealers
How aware are you of proposals for automatic IRAs?
How concerned are you about the proposals for automatic IRAs?
What actions have you taken to prepare for automatic IRAs?
44
617-723-6400 DALBAR.COM

45. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
How aware are you of How concerned are you about the
proposals for automatic IRAs? proposals for automatic IRAs?
Highly
Very
Aware
Concerned
2.0% 6.0%
Unaware
25.5% No concern
30.0% Concerned
Generally
24.0%
Aware
37.2%
Somewhat Somewhat
Aware Concerned
35.3% 40.0%
45
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46. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
What actions have you taken to prepare for automatic IRAs?
Developed a
strategy
2.1%
None
97.9%
46
617-723-6400 DALBAR.COM

47. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
401(k) advice regulations to plans and
participants – Advisors
How aware are you of the status of advice regulations?
How concerned are you about new advice regulations?
What actions have you taken to prepare for new regulations?
47
617-723-6400 DALBAR.COM

48. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
How aware are you of the How concerned are you
status of advice regulations? about new advice regulations?
Highly
Very
Aware No concern
Unaware Concerned
12.6% 16.0% 17.6%
17.3%
Generally
Aware
Concerned
33.6% Somewhat 29.1%
Somewhat Concerned
Aware 37.3%
36.5%
48
617-723-6400 DALBAR.COM

49. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
What actions have you taken to prepare for new regulations?
Plans are in
place Have pilot
7.1% program
0.6%
Developed a
strategy
8.1%
None
84.2%
49
617-723-6400 DALBAR.COM

50. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
401(k) advice regulations to plans and
participants – Broker/Dealers
How aware are you of the status of advice regulations?
How concerned are you about new advice regulations?
What actions have you taken to prepare for new regulations?
50
617-723-6400 DALBAR.COM

51. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
How aware are you of the status How concerned are you
of advice regulations? about new advice regulations?
Unaware
2.0% No concern
Somewhat Aware 2.0%
21.6%
Somewhat
Very
Concerned
Highly Aware Concerned
28.0%
34.0%
39.2%
Generally Aware
37.2% Concerned
36.0%
51
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52. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
What actions have you taken to prepare for new regulations?
Have pilot
program
2.1%
Plans are in
place
10.4%
Developed a
strategy
27.1%
None
60.4%
52
617-723-6400 DALBAR.COM

53. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
Definition of 401(k) plan advisers as ERISA
fiduciaries – Advisors
How aware are you of plan to make plan advisers fiduciaries?
How concerned are you about plan advisers as fiduciaries?
What actions have you taken to prepare for fiduciary status?
53
617-723-6400 DALBAR.COM

54. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
How aware are you of plan to How concerned are you
make plan advisers fiduciaries? about plan advisers as fiduciaries?
Unaware
Highly Aware Very
15.1% No concern
21.6% Concerned
20.4% 22.6%
Somewhat
Aware
30.1%
Generally Somewhat Concerned
Aware Concerned 25.8%
33.2% 31.2%
54
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55. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
What actions have you taken to prepare for fiduciary status?
Plans are in Have pilot
place program
9.3% 2.2%
Developed a
strategy
9.3%
None
79.2%
55
617-723-6400 DALBAR.COM

56. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
Definition of 401(k) plan advisers as ERISA
fiduciaries – Broker/Dealers
How aware are you of plan to make plan advisers fiduciaries?
How concerned are you about plan advisers as fiduciaries?
What actions have you taken to prepare for fiduciary status?
56
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57. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
How aware are you of plan to How concerned are you
make plan advisers fiduciaries? about plan advisers as fiduciaries?
Unaware
7.9%
No concern
Somewhat
12.2%
Aware Very
13.7% Highly Aware Concerned
33.3% 28.6%
Somewhat
Concerned
28.6%
Generally
Aware
Concerned
45.1% 30.6%
57
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58. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
What actions have you taken to prepare for fiduciary status?
Have pilot
program
4.2%
Plans are in
place
16.7%
None
56.2%
Developed a
strategy
22.9%
58
617-723-6400 DALBAR.COM

59. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
Mandatory lifetime income option for
401(k) plans – Advisors
How aware are you of proposals for a lifetime income requirement?
How concerned are you about the lifetime income requirement?
What actions have you taken to prepare for the requirement?
59
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60. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
How aware are you of proposals How concerned are you about the
for a lifetime income requirement? lifetime income requirement?
Highly Aware Very
7.2% Concerned
No concern 15.0%
Generally
24.0%
Aware
16.6%
Unaware
48.7%
Concerned
25.0%
Somewhat
Aware Somewhat
27.5% Concerned
36.0%
60
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61. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
What actions have you taken to prepare for the requirement?
Plans are in
place
2.3% Have pilot
program
Developed a 0.3%
strategy
4.0%
None
93.4%
61
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62. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
Mandatory lifetime income option for 401(k)
plans – Broker/Dealers
How aware are you of proposals for a lifetime income requirement?
How concerned are you about the lifetime income requirement?
What actions have you taken to prepare for the requirement?
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63. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
How aware are you of proposals How concerned are you about
for a lifetime income requirement? the lifetime income requirement?
Highly Very
Aware Concerned
7.8% 10.6%
Generally No concern
Unaware 27.7%
Aware
31.4%
17.7% Concerned
19.1%
Somewhat Somewhat
Aware Concerned
43.1% 42.6%
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64. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
What actions have you taken to prepare for the requirement?
Plans are in
place
Developed a
2.3%
strategy
2.3%
None
95.4%
64
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65. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
Client Relationship Following Market Turmoil
– Advisors
How has the trust of your clients changed since 2008?
How has client loyalty changed since 2008?
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66. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
How has the trust of your How has client loyalty changed
clients changed since 2008? since 2008?
Less Loyal
Less Trusting 8.4%
11.5%
More Loyal
36.8%
More Trusting
41.1%
No Change
No Change 54.8%
47.4%
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67. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
Client Relationship Following Market Turmoil
– Broker/Dealer
How has the trust of your clients changed since 2008?
How has client loyalty changed since 2008?
67
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68. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
How has the trust of your clients How has client loyalty
changed since 2008? changed since 2008?
More
Trusting
Less More Loyal
18.2% Less Loyal
Trusting 18.2%
27.3% 22.7%
No Change No Change
54.5% 59.1%
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69. FSI Quarterly Survey DALBAR
Awareness Questionnaire Q1 2010 The Measurement of Success
• DALBAR, Inc., the nation’s leading financial services market
research firm, continues its nearly three-decade commitment
to raising the standards of excellence in the industry. With
offices in the U.S., Canada, and London, DALBAR develops
standards for, and provides research, ratings and rankings of,
intangible factors that influence the overall customer service
experience in the mutual fund, broker/dealer, managed
account, retirement plan, life insurance, and property and
casualty insurance industries. Such factors include print
communications, Web, interactive voice response, call center,
and financial professional touch points. www.dalbar.com
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