Providers
Bank of America Corporation
DC ASSETS | |
---|---|
Total DC assets ($MM) | $268,648 |
DC Assets <$5MM | <1% |
In plans with ≤10 participants | <1% |
In plans with >10-50 participants | 1% |
In plans with >50–500 participants | 5% |
In plans with >500 participants | 94% |
PLANS | |
---|---|
Total DC plans | 1,114 |
DC plans <$5MM | 16% |
In plans with ≤10 participants | 9% |
In plans with >10-50 participants | 15% |
In plans with >50-500 participants | 45% |
In plans with >500 participants | 31% |
% serviced by Third Party Administrator | 0 |
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 Accounts |
RELATIONSHIP MANAGEMENT (RM) TEAMS | |
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Average case/client load (# plans/person) | Varies† |
Average tenure with recordkeeper | Varies‡ |
Average years of experience in retirement | Varies§ |
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. |
†Each Client Relationship Manager and Communications Consultant have an average of 5 – 8 clients. Client Service Managers have on average 10 – 12 clients. |
‡Client Relationship Manager: 17 years. Client Service Manager: 14 years: Communications Consultant: 11 years |
§Client Relationship Manager: 25 years. Client Service Manager: 18 years: Communications Consultant: 10 years |