RESEARCH |

2025
PLANADVISER Retirement Plan Adviser Survey

The 2025 Retirement Plan Adviser Survey sheds light on the criteria that advisers prioritize in fund and recordkeeper selection.

Reported by PLANADVISER
Top-Rated Investment Firms
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Top-Rated Investment Firms

Top-Rated Investment Firms

General Adviser Services and Support
1) Capital Group, home of the American Funds32.8%
2) J.P. Morgan Asset Management15.5%
3) Fidelity Investments14.7%
4) BlackRock5.2%
4) Invesco5.2%
4) Vanguard5.2%
Practice Management Ideas, Tools and Other Value-Added Services
1) Capital Group, home of the American Funds27.7%
2) J.P. Morgan Asset Management21.4%
3) Vanguard9.8%
4) BlackRock8.9%
5) PIMCO6.3%
Retirement Industry Insight and Analysis
1) J.P. Morgan Asset Management22.7%
2) Fidelity Investments21.8%
3) Capital Group, home of the American Funds18.2%
4) BlackRock13.6%
5) Vanguard11.8%
Wholesaler Knowledge and Responsiveness
1) Capital Group, home of the American Funds29.2%
2) J.P. Morgan Asset Management18.9%
3) BlackRock10.4%
4) Fidelity Investments5.7%
4) PIMCO5.7%
Reputation
1) Capital Group, home of the American Funds30.4%
2) Vanguard20.6%
3) Fidelity Investments19.6%
4) J.P. Morgan Asset Management11.8%
5) BlackRock9.8%
Investment Value for Price
1) Vanguard36.5%
2) Capital Group, home of the American Funds24.0%
3) Fidelity Investments15.4%
4) BlackRock12.5%
5) Nuveen3.8%
5) T. Rowe Price3.8%
Fund Fact Sheets
1) Capital Group, home of the American Funds24.0%
2) Fidelity Investments15.0%
3) J.P. Morgan Asset Management13.0%
4) BlackRock8.0%
4) Franklin Templeton / Putnam Investments*8.0%
4) Vanguard8.0%
Quarterly Evaluation Materials
1) Capital Group, home of the American Funds24.5%
2) J.P. Morgan Asset Management19.4%
3) Fidelity Investments13.3%
4) BlackRock10.2%
5) Vanguard7.1%
Participant Educational Materials
1) Capital Group, home of the American Funds22.0%
2) Vanguard14.0%
3) J.P. Morgan Asset Management13.0%
4) Fidelity Investments8.0%
5) John Hancock Investment Management6.0%
Plan Participant Support
1) Capital Group, home of the American Funds27.6%
2) Fidelity Investments15.3%
3) Franklin Templeton / Putnam Investments*11.2%
4) Vanguard10.2%
5) J.P. Morgan Asset Management7.1%
5) T. Rowe Price7.1%
Plan Sponsor Educational Materials
1) Capital Group, home of the American Funds20.4%
1) Fidelity Investments20.4%
3) J.P. Morgan Asset Management10.2%
3) T. Rowe Price10.2%
5) Vanguard9.2%
Plan Sponsor Support
1) Capital Group, home of the American Funds24.5%
2) Fidelity Investments18.4%
3) J.P. Morgan Asset Management11.2%
4) Franklin Templeton / Putnam Investments*8.2%
5) Vanguard7.1%

Due to an error in the data upload, the Rankings have been corrected as of November 10, 2025.

*Putnam Investments is now considered part of Franklin Templeton, following a 2024 transaction.