Providers

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Bank of America CorporationƗ

DC ASSETS
DC assets ($MM) $242,630
In plans with ≤ 50 participants 1%
In plans with >50–500 participants 6%
In plans with >500 participants 93%
PLANS
Total DC plans1,129
% serviced by Third Party Administrator0%
FEE STRUCTURES
Upfront commission (front-end load)NR
Finder's feeNR
Ongoing trail/commissionNR
RIA fees/Hard-dollar feesNR
ERISA account/budgetNR
SUPPORT SERVICES FOR ADVISERS
DC plan benchmarking
Access to ERISA counsel
Offers CE-eligible DC-specific training
Supports Advisor Managed Accounts
RELATIONSHIP MANAGEMENT (RM) TEAMS
Average case/client load (# plans/person)Varies1
Average tenure with recordkeeperVaries2
Average years of experience in retirementVaries3
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.
Ɨ Plan sponsors may direct Bank of America to debit participant accounts for the payment of qualified ERISA expenses, including adviser fees.
1 Relationship Manager and Communications Consultant have an average of 5 – 8 clients. Client Service Managers have on average 10 – 12 clients.
2 Client Relationship Manager: 16 years, Client Service Manager: 14 years: Communications Consultant: 11 years.
3Client Relationship Manager: 25 years, Client Service Manager: 18 years: Communications Consultant: 10 years.
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Recordkeeping Survey

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