2008 Recordkeeping Survey - What Provider To Work With

Retirement plan advisers play an integral role in many providers' delivery systems, but while some providers do both adviser-sold and direct-sold business, others do no business through intermediaries.

By Alison Cooke Mintzer See Archive >

To help advisers get a better sense of this distribution landscape, as part of sister publication PLANSPONSOR’s 10th annual Recordkeeping Survey, retirement plan recordkeepers were asked about their business delivery model. PLANSPONSOR received 79 complete responses this year from the nation’s leading recordkeepers. From that total, 58 respondents said they delivered their services through intermediaries, and those have been included in the chart below.

Recordkeepers’ Presence in the Adviser Space


Company name % of DC plans sold/administered through intermediaries

Fee Structure for Advisers:

Upfront commision


Ongoing trail


RIA fees

Support Services:

DC plan training


DC plan certification


Investment monitoring products




DC plan benchmarking


DC plan leads

ACS, Inc65-75%         
ADP Retirement Services30%XXXX XXXX
AIG Retirement N/AXXXX XX X
Allen, Gibbs & Houlik, LC100%X XX X X X X X  
Alliance Benefit Group22%X X X X X X X X X
American Funds Distributors, Inc.95% X X X X X X X X
American Trust & Savings Bank75%X X X X  X X X X
Ascensus***100%X X X X X X X X X
Benefit Consultants GroupN/AX X X X   XX X
BPAH 95% XX X  X X X X
CDM Retirement Consultants, Inc. 100%X X X   X X  X
Charles Schwab 80%X X X X  X  X X
CitiStreet LLC 30%X X X X   X X X
Correll Co.95%X X X X  X X X  
CPI Qualified Plan Consultants, Inc. 100%  X X  X X  X
DailyAccess Corporation100%XX X X   X X X
Diversified Investment Advisors90%X X X   X X XX
EPIC Advisors, Inc. 80%X X X   X X   
ePlan Services, Inc. 100% X X X  X X  X
ExpertPlan, Inc. 100%         
Fidelity Investments N/AX X X X  X  X  
First Mercantile100%X X X X  X  X X
Freedom One Financial Group, Inc.N/A X X X  X X X  
Great-West Retirement Services 46%X X X   X X   
INGN/A X X X       
J. W. Seligman & Co. Inc. 100%X X  X   X  X
John Hancock Retirement Plan Services 100%X X X X  X X X X
JPMorgan Retirement Plan Services 80%  X X  X X X  
July Business Services N/A X X X X      
Lincoln Financial Group 100%X X X   X X X  
Marshall & Ilsley Trust Company, N.A.25% X X X  X X X X
MassMutual Financial Group 95%X X X X  X X X X
McCready and Keene, Inc. 100%X X X X  X X  X
Mercer62%X X X X  X X X  
Merrill Lynch Retirement GroupN/A   X X X X X X
Milliman, Inc. 20%  X X  X X X X
Nationwide Financial 53%X X X X X X  X X
New York Life Retirement Plan Services 100%*X X X X  X X X X
OneAmerica (AUL Retirement Services) 100% X X  X  X X X X
OppenheimerFunds, Inc 100%X X X X    X  
Paychex, Inc.5% X    X X  X
Pentegra Retirement Services 30% X X X   X X X X
Principal Financial Group 95%X X X X  X X X X
Prudential Retirement 95%X X X X X X X X X
RSM McGladrey, Inc. N/A X X X X  X   X
Securian Financial Group 95%X X  X  X X X X
Security Benefit2%X X X X  X X   
Sentinel Benefits Group, Inc. N/AX X X X  X X   
Sterling Trust Company 95% X X X       
T. Rowe Price Group N/A X X   X X   
The Hartford 100%X X  X  X X  X
The Newport Group 96%X X X X  X X X  
The Online 401(k) 47%X  X X  X X  X
The Standard 100%X X X X X X X X X
Transamerica Retirement Services 12%X  X  X X X X  
UNIFI Companies Retirement Plans**41%X X X X  X X  X
USI Consulting Group5%X X X X  X X X X
Wachovia Retirement Services20%X X X X  X X X X


*new business; **an affiliation of Ameritas Retirement Plans and Union Central Retirement Plans; ***formerly BISYS Retirement Services