If your company announced a change, how about simply sitting down with the guy (regardless of his firm) and actually TALKING WITH him? Your ability to do this is, after all, why your fees are higher with them vs Vanguard or some other low-cost/low-service firm. It's not better overall investments. It's service. Do some face to face research and find out for yourself! Heck, ask him outright "Why would I -want- to work with you over xyz?" And then (and this is important): listen.
Baloney.
I have done exactly this. I'll give you the transcript.
Hey, the old fund had the amount we had vested showing, but yours doesn't seem to. Is there a way to put that on the main screen?
"Oh, well, uh, see, uh (more stalling), your manager can give you that information but AH HA HA HA of course you don't need it because that would only matter if you were going to leave! Leaving is no good! Ah ha ha..."
This doesn't show investments in shares, but in... units. That seems confusing and unnecessary. Why are they in units?
"The units are just how we keep track of these in one simple place, it's really the same thing." (real answer: so we can obfuscate how much we're keeping in cash to loan out for free - up to 10% of your investment, which is in an "account" with our "account name" investing in the "underlying security" at our special rates)
Which funds are the lowest fees?
"Oh I think you'll find our proprietary funds have much lower fees. Why, they're even lower than Vanguard!" (real answer: the expense ratio is lower than Vanguard, only before the total plan overhead of nearly an added 1%, and the 10% in the extra-low-fee funds that is kept in cash)
Are you a fiduciary?
(5 seconds of silence) "Well, we are advisors, who (half a minute of stammering)..."
So, no?
"Well, no..." (then the brass said they were the fiduciary and they approve of the plan)
Plllllease.
Fine, we don't need to indict every salesman personally, and that would even be irresponsible, but we don't really need to argue for their "service" either.
"Gah, a spike pit!"
"No! Let me use these palm fronds to show you it's just part of the path and give you Peace of Mind™!"
"Oh man, I sure
do love buying Peace of Mind™, and that in no way makes what you're doing predatory. Thanks Mr. Financial Advisor!"