RESEARCH |

2017
PLANADVISER Retirement Plan Adviser Survey

When choosing recordkeepers and investment managers, advisers focus on their preferred firms

Reported by PLANADVISER | Art by Red Nose Studio
Art by Red Nose Studio
Survey Data
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Survey Data

Top-Rated Defined Contribution (DC) Providers

Best Overall Service, Micro Plans (<$5MM) (160 votes)
1 Empower Retirement13.8%
2 ADP Retirement Services12.5%
3 John Hancock Retirement Plan Services10.6%
4 Ascensus10.0%
5 Principal Financial Group9.4%
6 American Funds Distributors7.5%
7 Nationwide Financial3.1%
7 Transamerica Retirement Solutions3.1%
7 Vanguard3.1%
7 Voya Financial3.1%
Best Overall Service, Small Plans ($5MM-$50MM) (170 votes)
1 Empower Retirement27.6%
2 Fidelity Investments12.9%
3 Principal Financial Group7.6%
4 John Hancock Retirement Plan Services5.9%
5 Bank of America Merrill Lynch4.1%
5 MassMutual Financial Group4.1%
7 ADP Retirement Services3.5%
7 Lincoln Financial Group3.5%
7 Transamerica Retirement Solutions3.5%
10 American Funds Distributors2.9%
10 Voya Financial2.9%
Best Overall Service, Midsize Plans (>$50MM-$200MM) (155 votes)
1 Fidelity Investments27.1%
2 Empower Retirement12.9%
3 Transamerica Retirement Solutions7.7%
4 MassMutual Financial Group7.1%
4 Prudential Retirement7.1%
6 Bank of America Merrill Lynch6.5%
7 Principal Financial Group5.2%
8 Charles Schwab 4.5%
8 T. Rowe Price4.5%
10 John Hancock Retirement Plan Services3.9%
Best Overall Service, Large Plans (>$200MM-$1B) (113 votes)
1 Fidelity Investments26.5%
2 Empower Retirement16.8%
3 Bank of America Merrill Lynch9.7%
4 Transamerica Retirement Solutions8.0%
5 Vanguard7.1%
6 Charles Schwab5.3%
6 MassMutual5.3%
8 Principal Financial Group4.4%
8 Wells Fargo & Co.4.4%
Best Overall Service, Mega Plans (>$1B) (62 votes)
1 Fidelity Investments48.4%
2 Empower Retirement30.6%
3 Bank of America Merrill Lynch17.7%
4 Transamerica Retirement Solutions14.5%
5 Vanguard12.9%
6 Charles Schwab9.7%
6 MassMutual Financial Group9.7%
8 Principal Financial8.1%
8 Wells Fargo & Co.8.1%
Participant Educational Materials (141 votes)
1 Fidelity Investments20.6%
2 Empower Retirement16.3%
3 Principal Financial Group12.8%
4 MassMutual Financial Group9.2%
5 John Hancock Retirement Plan Services8.5%
6 Transamerica Retirement Solutions5.7%
7 Prudential Retirement5.0%
8 American Funds Distributors3.5%
8 Vanguard3.5%
10 T. Rowe Price2.8%
Fee Structure for Advisers (107 votes)
1 Empower Retirement27.1%
2 Fidelity Investments11.2%
3 Principal Financial Group8.4%
4 Ascensus7.5%
5 Transamerica Retirement Solutions5.6%
6 ADP Retirement Services4.7%
7 MassMutual Financial Group3.7%
Value for Price (136 votes)
1 Empower Retirement25.7%
2 Fidelity Investments11.8%
3 Ascensus8.8%
4 Vanguard7.4%
5 T. Rowe Price5.1%
6 John Hancock Retirement Plan Services4.4%
6 Principal Financial Group4.4%
8 ADP Retirement Services3.7%
8 MassMutual Financial Group3.7%
10 Prudential Retirement2.9%
10 Voya Financial2.9%
Value-Added Adviser Services (121 votes)
1 Empower Retirement18.2%
2 Fidelity Investments15.7%
3 Principal Financial Group15.7%
4 John Hancock Retirement Plan Services9.9%
5 MassMutual Financial Group6.6%
6 Transamerica Retirement Solutions4.1%
7 OneAmerica3.3%
8 T. Rowe Price3.3%
9 Vanguard3.3%
Best Wholesalers (136 votes)
1 Empower Retirement22.0%
2 Fidelity Investments12.5%
3 Transamerica Retirement Solutions9.6%
4 John Hancock Retirement Plan Services5.9%
5 Lincoln Financial5.1%
5 MassMutual Financial Group5.1%
7 Ascensus4.4%
7 Principal Financial Group4.4%
7 T. Rowe Price4.4%
10 Prudential Retirement3.7%
10 Voya Financial3.7%