RESEARCH |

2016
PLANADVISER Micro Plan Survey

Exploring the needs of micro plans

Reported by PLANADVISER | Art by Bill Mayer
Art by Bill Mayer
Top 10 Providers
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Top 10 Micro Plan Providers

Clients With 7-Plus Years of Tenure With Provider
1CUNA Mutual Group77.7%
2Correll Co.74.3%
3Principal Financial Group70.8%
4VALIC68.2%
5OneAmerica61.8%
6MBM Advisors Inc.61.5%
7BB&T Retirement and Institutional Services58.8%
8ABG Retirement Plan Services56.7%
9American Trust50.0%
9The Standard50.0%
Average Participant Account Balance
1MBM Advisors Inc.$115,664
2Fidelity Investments$92,938
3ABG Retirement Plan Services$85,741
4Principal Financial Group$79,960
5Voya Financial$76,975
6BB&T Retirement and Institutional Services$74,930
7Empower Retirement$73,488
8The Standard$73,310
9Ascensus$71,679
10Transamerica Retirement Solutions$67,952
Net Promoter/Recommendation Score*
1MBM Advisors Inc.96.2%
2American Trust87.1%
3BB&T Retirement and Institutional Services85.7%
4Correll Co.82.9%
5CUNA Mutual Group80.6%
6Voya Financial73.8%
7The Standard72.7%
8John Hancock Retirement Plan Services70.6%
9MassMutual Financial Group66.7%
10ABG Retirement Plan Services65.5%
Footnote: *Net Promoter/Recommendation Score is based on Satmetrix Systems’ Net Promoter Score methodology. Net Promoter Score and Net Promoter System are service marks of Bain & Co., Satmetrix Systems Inc., and Fred Reichheld. For more information, visit: http://www.netpromoter.com/.
Average Plan Participation Rate
1Fidelity Investments82.3%
2CUNA Mutual Group81.5%
3MBM Advisors Inc.77.8%
4American Trust77.5%
5Principal Financial Group75.5%
6Ascensus75.4%
7ABG Retirement Plan Services73.8%
7Voya Financial73.8%
9John Hancock Retirement Plan Services72.8%
10The Standard72.1%
Clients Using a Financial Adviser
1MassMutual Financial Group86.7%
1Transamerica Retirement Solutions86.7%
3Empower Retirement82.9%
4John Hancock Retirement Plan Services79.4%
5ADP Retirement Services76.9%
6Ascensus73.9%
7OneAmerica73.2%
8Principal Financial Group69.6%
9Voya Financial66.7%
10The Standard65.4%
Average Participant Deferral Rate
1MassMutual Financial Group8.0%
2The Standard7.0%
3Empower Retirement6.9%
3Fidelity Investments6.9%
5Principal Financial Group6.8%
6ADP Retirement Services6.3%
7Ascensus6.2%
8OneAmerica6.1%
9John Hancock Retirement Plan Services5.9%
9BB&T Retirement and Institutional Services5.9%