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.

Story

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.

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

 

Compliance

 

DC plan benchmarking

 

DC plan leads

ACS, Inc 65-75%                  
ADP Retirement Services 30% X X X X   X X X X
AIG Retirement N/A X X X X   X X   X
Allen, Gibbs & Houlik, LC 100% X X X X X X X X  
Alliance Benefit Group 22% 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 Bank 75% X X X X   X X X X
Ascensus*** 100% X X X X X X X X X
Benefit Consultants Group N/A X X X X     X X X
BPAH 95%   X X 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 Corporation 100% X X X X     X X X
Diversified Investment Advisors 90% X X X     X X X X
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/A X X X X   X   X  
First Mercantile 100% 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    
ING N/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
Mercer 62% X X X X   X X X  
Merrill Lynch Retirement Group N/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 Benefit 2% X X X X   X X    
Sentinel Benefits Group, Inc. N/A X 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 Group 5% X X X X   X X X X
Wachovia Retirement Services 20% 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