RESEARCH |

2023
PLANADVISER DCIO Survey

Reported by PLANADVISER
2023 DCIO Survey
Industry Snapshot
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Industry Snapshot

(from responses of 29 DCIO providers)

29
providers
responded
to our 2023
PLANADVISER
DCIO survey

These providers account for ...
56%
of total DC assets
18 of the top 25
largest U.S. asset managers
1947
DCIO investment options

DCIO Assets

DCIO Survey Assets
Total DC Assets
2016
$3,995B
$6,086B
2017
$4,644B
$7,468B
2018
$4,482B
$7,119B
2019
$4,982B
$8,337B
2020
$5,685B
$9,086B
2021
$6,134B
$10,975B
2022
$5,221B
$9,318B

DCIO Assets, by Vehicle

Mutual funds
55.5%
Separate accounts
19.6%
Collective Investment Trusts
23.1%
Other
1.3%
ETFs
0.4%

DCIO Assets, by Type

Equity
52.8%
Fixed income
15.7%
Hybrid / Multi-asset
19.6%
Stable value
7.7%
Money market
1.8%
Other
2.4%

Products / Services for Financial Advisers

Due diligence meetings
86.2%
Investment committee meetings
86.2%
Practice management
75.9%
Research
79.3%
Plan Benchmarking
62.1%
Conferences for advisers
62.1%
Training for DC plan sales/service
62.1%
Target-date evaluation tools
65.5%
Lead generation for 401(k)/qualified plans
58.6%
Sponsorship of designations/certifications
37.9%
Access to ERISA counsel
31.0%
Compliance Support
20.7%

DCIO SALES

Number of Retail Financial Adviser-Focused Salespeople/Wholesalers Per Provider

<3
5.3%
3 – 6
21.1%
7 – 10
10.5%
11 – 25
10.5%
>25
52.6%

Number of DC Specialist Financial Adviser-Focused Salespeople/Wholesalers Per Provider

<3
7.4%
3 – 6
37.0%
7 – 10
14.8%
11 – 25
29.6%
>25
11.1%

Number of Recordkeeper Selling Agreements

<26
8.0%
26 – 40
29.2%
41 – 60
33.3%
61 – 100
25.0%
>100
4.2%