There may be more upfront effort with smaller clients, but once they are on board, they take less time, according to Cerulli.
This is down from three-quarters last year, a PIMCO survey found
A new Cerulli Associates analysis shows institutional custom solutions assets stood at $1.7 trillion at year-end 2016, and assets are projected to grow 10.4% to 1.9 trillion by 2021.
The demand for 3(38) investment manager search support and monitoring has moved up market into the range of plans with billions of dollars in assets; smaller plans are seeking cost savings while larger plans are seeking deeper expertise and nimble capabilities.
For the $5 million to $500 million DC plan market, advisers and consultants offering 3(38) discretionary investment advice are more common.