RESEARCH |

2016
PLANADVISER Retirement Plan Adviser Survey

Advisers assess investment managers and recordkeepers

Reported by PLANADVISER | Art by David Jien
Art by David Jien
Survey Data
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Survey Data

Top-Rated Defined Contribution (DC) Providers

Best Overall Service, Micro Plans (<$5mm) (284 votes)
1 ADP Retirement Services13.4%
2 Empower Retirement12.7%
3 John Hancock Retirement Plan Services10.2%
4 Principal Financial Group8.8%
5 Ascensus8.1%
6 American Funds Distributors7.0%
7 Transamerica Retirement Solutions4.6%
8 Voya Financial3.9%
9 Newport Group3.5%
10 Fidelity Investments3.2%
10 Nationwide Financial3.2%
10 CUNA Mutual Group3.2%
Best Overall Service, Small Plans ($5mm–$50mm) (293 votes)
1 Fidelity Investments17.4%
2 Empower Retirement17.1%
3 Principal Financial Group9.9%
4 MassMutual Financial Group7.5%
5 Transamerica Retirement Solutions6.5%
6 Newport Group5.5%
7 John Hancock Retirement Plan Services4.4%
8 Voya Financial3.8%
8 ADP Retirement Services3.8%
10 Bank of America Merrill Lynch3.4%
Best Overall Service, Midsize Plans (>$50mm–$200mm) (239 votes)
1 Fidelity Investments25.9%
2 Empower Retirement15.9%
3 Prudential Retirement7.9%
4 Vanguard6.3%
5 Principal Financial Group5.9%
6 Transamerica Retirement Solutions5.4%
6 MassMutual Financial Group5.4%
8 Bank of America Merrill Lynch5.0%
9 Newport Group3.3%
9 T. Rowe Price3.3%
9 Charles Schwab3.3%
Best Overall Service, Large Plans (>$200mm–$1b) (161 votes)
1 Fidelity Investments30.4%
2 Empower Retirement12.4%
3 Vanguard9.9%
4 Principal Financial Group6.2%
4 Transamerica Retirement Solutions6.2%
6 Bank of America Merrill Lynch5.6%
7 MassMutual Financial Group4.3%
7 T. Rowe Price4.3%
7 Charles Schwab4.3%
10 Prudential Retirement3.7%
Best Overall Service, Mega Plans (>$1b) (95 votes)
1 Fidelity Investments34.7%
2 Vanguard14.7%
3 Empower Retirement10.5%
4 Bank of America Merrill Lynch9.5%
5 Prudential Retirement4.2%
6 MassMutual Financial Group3.2%
7 Principal Financial Group2.1%
7 T. Rowe Price2.1%
7 Charles Schwab2.1%
7 TIAA2.1%
7 Milliman, Inc.2.1%
Best Wholesalers (238 votes)
1 Empower Retirement18.5%
2 Fidelity Investments17.6%
3 Principal Financial Group9.2%
4 MassMutual Financial Group8.8%
5 Transamerica Retirement Solutions8.0%
6 John Hancock Retirement Plan Services6.3%
7 American Funds Distributors5.0%
8 Voya Financial3.8%
9 Ascensus3.4%
10 T. Rowe Price2.9%
Value-Added Adviser Services (206 votes)
1 Fidelity Investments17.5%
2 Empower Retirement13.1%
3 Principal Financial Group9.7%
4 MassMutual Financial Group7.8%
5 John Hancock Retirement Plan Services7.3%
6 Voya Financial4.9%
7 Transamerica Retirement Solutions4.4%
8 Prudential Retirement3.9%
8 ADP Retirement Services3.9%
8 American Funds Distributors3.9%
8 Nationwide Financial3.9%
Fee Structure for Advisers (193 votes)
1 Empower Retirement21.2%
2 Fidelity Investments9.8%
3 Ascensus9.3%
4 Principal Financial Group8.3%
5 Vanguard5.7%
6 MassMutual Financial Group5.2%
7 Voya Financial4.7%
8 Transamerica Retirement Solutions3.6%
8 Newport Group3.6%
9 Charles Schwab3.1%
9 John Hancock Retirement Plan Services3.1%
9 American Funds Distributors3.1%
Participant Educational Materials (242 votes)
1 Fidelity Investments20.2%
2 Empower Retirement13.6%
3 Principal Financial Group12.4%
4 MassMutual Financial Group10.7%
5 John Hancock Retirement Plan Services9.5%
6 American Funds Distributors5.0%
7 Transamerica Retirement Solutions4.1%
8 Voya Financial3.7%
9 Nationwide Financial2.1%
9 Prudential Retirement2.1%
9 Vanguard2.1%
Value for Price (231 votes)
1 Empower Retirement25.5%
2 Fidelity Investments9.1%
3 Ascensus8.2%
4 Vanguard6.9%
5 Voya Financial6.5%
6 American Funds Distributors4.8%
6 Newport Group4.8%
8 ADP Retirement Services3.9%
9 Principal Financial Group3.0%
9 MassMutual Financial Group3.0%
9 T. Rowe Price3.0%