RESEARCH | October 12, 2018

2018
PLANADVISER Retirement Plan Adviser Survey

Reported by PLANADVISER | Art by Muhammad Mustafa

Survey Data

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Survey Data

Top-Rated Defined Contribution Plan Providers

Best Overall Service, Micro Plans (<$5MM) 168 votes
1 Empower Retirement	14.9%
2 ADP Retirement Services	13.7%
2 Ascensus	13.7%
4 John Hancock Retirement Plan Services	11.3%
4 Principal Financial Group	11.3%
6 American Funds Distributors	6.0%
7 Nationwide	4.2%
7 Voya Financial	4.2%
9 CUNA Mutual Group	2.4%
9 Fidelity Investments	2.4%
9 T. Rowe Price	2.4%
9 The Vanguard Group, Inc.	2.4%

Best Overall Service, Small Plans ($5MM-$50MM) 180 votes
1 Empower Retirement	26.1%
2 Fidelity Investments	17.8%
3 Principal Financial Group	11.1%
4 John Hancock Retirement Plan Services	6.1%
5 Voya Financial	5.6%
6 Nationwide	4.4%
7 The Vanguard Group, Inc.	2.8%
8 ADP Retirement Services	2.2%
8 MassMutual	2.2%
8 Transamerica Retirement Solutions	2.2%
8 Charles Schwab	2.2%

Best Overall Service, Midsize Plans (>$50MM-$200MM) 150 votes
1 Fidelity Investments	35.3%
2 Empower Retirement	15.3%
3 Charles Schwab	8.0%
3 Prudential Retirement	8.0%
5 Principal Financial Group	4.0%
5 MassMutual	4.0%
5 Transamerica Retirement Solutions	4.0%
5 Bank of America Merrill Lynch	4.0%
9 T. Rowe Price	3.3%
10 John Hancock Retirement Plan Services	2.7%

Best Overall Service, Large Plans (>$200MM-$1B) 121 votes
1 Fidelity Investments	33.9%
2 Empower Retirement	14.9%
3 Charles Schwab	7.4%
3 T. Rowe Price	7.4%
5 Transamerica Retirement Solutions	5.0%
5 Bank of America Merrill Lynch	5.0%
7 The Vanguard Group, Inc.	4.1%
8 Principal Financial Group	3.3%
8 Wells Fargo	3.3%
8 TIAA	3.3%

Best Overall Service, Mega Plans (>$1B) 75 votes
1 Fidelity Investments	45.3%
2 Empower Retirement	10.7%
3 The Vanguard Group, Inc.	8.0%
4 Bank of America Merrill Lynch	6.7%
5 T. Rowe Price	5.3%
6 TIAA	4.0%
7 Charles Schwab	2.7%
7 Principal Financial Group	2.7%
7 Wells Fargo	2.7%
7 Prudential Retirement	2.7%
7 John Hancock Retirement Plan Services	2.7%

Fee Structure for Plan Sponsors 147 votes
1 Empower Retirement	24.5%
2 Fidelity Investments	12.9%
3 Ascensus	10.2%
4 T. Rowe Price	6.1%
4 The Vanguard Group, Inc.	6.1%
6 Newport Group	5.4%
7 John Hancock Retirement Plan Services	4.8%
8 American Funds Distributors	3.4%
8 Voya Financial	3.4%
8 Charles Schwab	3.4%

Plan Sponsor Client Service 134 votes
1 Empower Retirement	18.7%
2 Fidelity Investments	13.4%
2 Principal Financial Group	13.4%
4 Charles Schwab	6.7%
5 John Hancock Retirement Plan Services	5.2%
5 MassMutual	5.2%
7 Prudential Retirement	4.5%
8 Transamerica Retirement Solutions	3.7%
8 Nationwide	3.7%
10 T. Rowe Price	3.0%
10 Milliman Inc.	3.0%

Adviser Sales/Marketing Support 146 votes
1 John Hancock Retirement Plan Services	15.8%
2 Fidelity Investments	15.1%
3 Empower Retirement	13.7%
4 Transamerica Retirement Solutions	8.2%
5 Principal Financial Group	7.5%
6 American Funds Distributors	5.5%
7 Nationwide	4.1%
8 T. Rowe Price	3.4%
8 Voya Financial	3.4%
8 ADP Retirement Services	3.4%

Fee Structure for Advisers 110 votes
1 Empower Retirement	26.4%
2 Fidelity Investments	7.3%
2 Ascensus	7.3%
2 John Hancock Retirement Plan Services	7.3%
5 Nationwide	5.5%
6 American Funds Distributors	4.6%
6 Voya Financial	4.6%
6 Principal Financial Group	4.6%
9 ADP Retirement Services	3.6%
10 T. Rowe Price	2.7%
10 The Vanguard Group, Inc.	2.7%
10 Charles Schwab	2.7%

Value for Price 155 votes
1 Empower Retirement	22.6%
2 Ascensus	7.1%
3 Fidelity Investments	6.5%
4 John Hancock Retirement Plan Services	5.8%
4 Voya Financial	5.8%
4 Principal Financial Group	5.8%
7 The Vanguard Group, Inc.	5.2%
8 T. Rowe Price	4.5%
8 Charles Schwab	4.5%
8Transamerica Retirement Solutions	4.5%