2025
PLANADVISER DCIO Survey

The 2025 PLANADVISER Defined Contribution Investment Only Survey was conducted from February through May 2025 via Qualtrics. The 17 organizations listed on the pages that follow are those that completed the survey in its entirety. They collectively account for 42% of the defined contribution plan market, according to the Investment Company Institute’s “Q4 2024 Quarterly Retirement Market Data Report.”

The information collected includes the total number of DCIO funds the firm managed and its assets under management; the number of target-date-fund series; the largest stand-alone DCIO fund; the breakdown of the investment vehicles, classes and investment styles in which DCIO assets are invested; the number of salespeople and recordkeeping partners the firm has; and the adviser services it offers.

Additionally, the top 10 providers are listed in categories that include the largest year-over-year increase in DCIO assets, the largest DCIO asset managers, the largest DCIO TDFs and the most DCIO funds available on recordkeeping platforms.

This information is for reference only and is not comprehensive of the entire DCIO industry, as some providers chose not to participate. For more information on data available to purchase, or to take part in a future survey, please email surveys@issmediasolutions.com.

—Garrett Cox