Data & Research
By the Numbers: Managed Account Availability
Most surveyed recordkeepers can accommodate managed accounts, but there is a wide range of adoption and availability of providers.
Reported by Edward Rueda
Managed accounts have long divided opinions in the retirement plan industry, but access to the service appears widespread. The 2026 PLANSPONSOR Recordkeeping Survey polled 36 recordkeepers and found that 72.4% of their recordkeeping systems accommodated adviser-managed accounts by year-end 2025. (PLANSPONSOR, like PLANADVISER, is owned by ISS STOXX.)
What varies more significantly is participant access to providers. While most recordkeepers that offer managed accounts support at least one provider, access to multiple providers remains relatively uncommon. Nearly two-thirds of respondents offered just one managed account provider, while only 20% offered three or more.
Among managed account providers, Morningstar was available on the most recordkeeping platforms, cited by 36% of respondents. Stadion followed at 25%, while Edelman Financial Engines was cited by 22%. The full recordkeeper responses are listed below.
Yet broad availability has not necessarily translated into broad enthusiasm among plan sponsors. Findings from the 2026 PLANSPONSOR Defined Contribution Plan Benchmarking Report suggest managed accounts continue to rank low among sponsors’ priorities and perceived sources of participant outcomes.
When asked which third-party services were most valuable to them, plan sponsors gave managed account oversight the lowest average score among the services evaluated. Managed accounts also ranked near the bottom when sponsors were asked which defined contribution plan features would have the greatest impact on improving participant retirement income.
The findings highlight a contrast in the managed account market: While recordkeepers have largely built the infrastructure to support managed accounts, plan sponsor demand remains comparatively muted.
Industry Access to Managed Account Platforms
Availability is determined by recordkeeper partnerships
| Provider | Managed Account / Advice Providers Available |
| ADP | Edelman Financial Engines, Morningstar, Mesirow |
| Alerus Retirement and Benefits | Other |
| Alight | Edelman Financial Engines |
| Ameritas Life Insurance Corp., United States | Stadion, Other |
| Ascensus | Morningstar, Stadion, Other |
| Bank of America Corporation | Other |
| BOK Financial | Other |
| Capital Group | None, managed accounts not offered |
| Corebridge Financial | Morningstar, Other |
| Correll Co. | Other |
| Empower | Edelman Financial Engines, Morningstar |
| EPIC Retirement Plan Services | Stadion, Other |
| Equitable | Stadion |
| Fidelity Investments | Edelman Financial Engines, ProManage, Other |
| Human Interest | Other |
| J.P. Morgan Asset Management | Other |
| John Hancock | Morningstar |
| July Business Services | Stadion |
| Lincoln Financial | Morningstar, Stadion |
| Milliman, Inc. | Morningstar |
| MissionSquare | Morningstar |
| Nationwide Financial | Stadion, Other |
| NFP, an Aon Company | None, managed accounts not offered |
| NWPS | Edelman Financial Engines, Other |
| PlanMember Securities | Other |
| Principal Financial Group | Edelman Financial Engines, Morningstar, Other |
| Schwab Retirement Plan Services, Inc. | Morningstar |
| T. Rowe Price Retirement Plan Services, Inc. | Edelman Financial Engines, Morningstar, Other |
| The Standard | Stadion, Other |
| The Vanguard Group | Edelman Financial Engines, Morningstar, Mesirow, Other |
| TIAA | Morningstar, Mesirow, Other |
| Transamerica Retirement Solutions, LLC | Other |
| TruStage | Stadion |
| Vestwell | Other |
| Voya Financial | Other |