2020
PLANADVISER Recordkeeper Services Survey

Providers

Providers

Voya Financial

DC ASSETS
DC assets ($MM) $377,864
In plans with ≤ 50 participants 10%
In plans with >50–500 participants 15%
In plans with >500 participants 75%
PLANS
Total DC plans50,516
% serviced by Third Party Administrator74%1
FEE STRUCTURES
Upfront commission (front-end load)
Finder's fee
Ongoing trail/commission
RIA fees/Hard-dollar fees
ERISA account/budget
SUPPORT SERVICES FOR ADVISERS
DC plan benchmarking
Access to ERISA counsel
Offers CE-eligible DC-specific training
Supports Advisor Managed AccountsNR
RELATIONSHIP MANAGEMENT (RM) TEAMS
Average case/client load (# plans/person)Varies
Average tenure with recordkeeper10 years2
Average years of experience in retirement18 years2
Dedicated RMs for NQDC plans only?
Dedicated RMs for 403(b) plans only?
Dedicated RMs for 457 plans only?
Advisers given choice of RMs to support clients
NR = Not Reported. NA = Not Applicable.
1 Percentage is for small to medium plans only. 2 Averages across all markets