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