Broker/Dealers and Custodians Most common custodians for RIAs % of Advisers Using Each 2017 2018 Schwab Fidelity (NFS) TD Ameritrade Pershing, LLC LPL Financial Matrix Wells Fargo Vanguard Wilmington Trust UBS J.P. Morgan Global Retirement Partners State Street Prudential Financial Pensionmark Primary benefits received from custodians % of Advisers Using Each 2017 2018 Trading platform Online access to trust reporting Robust trust and trading reports Retirement specialists Plan distribution processing (to plans) Trading alerts Other Custodian adds no value Adviser ratings of their custodians 2018 Excellent Good Satisfactory Poor 2017 24% 31% 53% 47% 22% 20% 2% 1% Excellent Good Satisfactory Poor 47% 55% 24% 38% 24% 22% 22% 29% 16% 14% 10% 13% 13% 12% 24% 17% 20% 30% 16% 30% 10% 16% 8% 12% 7% 17% 3% 10% 3% 9% 3% 8% 3% 6% 3% 5% 2% 3% 2% 0% 1% 8% 1% 4% 1% 0% Morgan Stanley Smith Barney LPL Financial UBS Financial Services Cetera Pensionmark Merrill Lynch CapFinancial NFP Securities, Inc. Wells Fargo Advisors (First Clearing LLC) Commonwealth Financial Networks MML Investors Raymond James Financial Services, Inc. Most common broker/dealers % of Advisers Using Each 2017 2018 19% 29% 16% 19% 8% 8% 6% 5% 3% 2% 1% 1% 1% 1% 3% 0% 0% 7% 2% 5% 3% 2% 2% 2% Primary benefits received from broker/dealers 2018 Compliance oversight Technology/IT support Wealth management support Brand name recognition Investment due diligence Marketing support Co-fiduciary support Retirement plan expertise Participant education materials/support Retirement plan search Retirement income projection tools Lead generation/Referrals Broker/dealer adds no value Adviser ratings of their broker/dealers 2018 2017 46% 47% 42% 27% 9% 22% 3% 4% 2017 85% 70% 62% 54% 55% 46% 52% 50% 52% 48% 45% 37% 44% 42% 40% 34% 39% 29% 30% 17% 23% 18% 19% 10% 7% 12% planadviser.com November-December 2018 | 35http://www.planadviserdigital.com/planadviser/november_december_2018/TrackLink.action?pageName=35&exitLink=http%3A%2F%2Fplanadviser.com