PLANADVISER - November/December 2019 - 31

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2018 PLANADVISER Retirement Plan Adviser Survey
Plan Adviser Experience With vs. Perception of Plan Providers
Among 236 retirement plan advisers, regardless of their experience with the provider (see methodology on page 2).
Key
EXPERIENCE
Worked with many times
Worked with a few times
Worked with once
Never worked with
PERCEPTION
Very favorable
Somewhat favorable
Not favorable
No opinion
Bank of America Merrill Lynch
16%
26%
14%
43%
7%
16%
36%
41%
John Hancock Ret Plan Svcs
48%
42%
6%
4%
27%
48%
19%
6%
2018 PLANADVISER Retirement Plan Adviser Survey
Industry Trends
1ST
1 Performance vs. benchmarks
2 Performance (5-year return)
3 Fee structure for plan
4 Plan demographics
5 Sharpe ratio
6 Manager tenure
7 Share class availability
8 Style drift
9 Performance - 1-year return
10 Brand
11 Total assets
11 Adviser support
11 Fee structure for adviser
14 Supporting materials
Newport Group
26%
36%
17%
20%
14%
38%
25%
24%
Top Criteria Used to Decide Which Funds
Are Appropriate for Plans
PASO18_reprint_RPA-Survey_p1.indd 7
44.0% 28.0% 72.0%
20.5% 16.5% 37.0%
14.0% 19.0% 33.0%
6.5% 4.5% 11.0%
5.0% 14.0% 19.0%
4.5% 10.0% 14.5%
3.0% 4.0% 7.0%
2.5% 3.0% 5.5%
1.0% 3.0% 4.0%
1.0% 1.5% 2.5%
0.5% 0.0% 0.5%
0.5% 0.0% 0.5%
0.0% 0.5% 0.5%
0.0% 0.0% 0.0%
T. Rowe Price
30%
39%
12%
19%
33%
40%
7%
21%
Top Criteria Used to Decide Which Recordkeepers
Are Appropriate for Plan
1ST
1 Value for price
2 Fee structure for plan
3 Investment options available
4 Website tools for participants
5 Participant education
2ND 1ST OR 2ND
46.8% 17.1% 63.9%
27.3% 13.7% 41.0%
9.3% 19.0% 28.3%
3.4% 20.5% 23.9%
2.0% 9.3% 11.2%
6 Supporting materials for plan sponsors 2.9% 4.9% 7.8%
7 Reputation
8 Adviser support
2.9% 2.9% 5.9%
2.4% 2.9% 5.4%
9 Adviser support/value-added services 2.0% 2.4% 4.4%
10 Website tools for plan sponsors
11 Brand recognition
12 Fee structure for adviser
12 Recommendation by home office
14 Wholesalers
0.5% 3.9% 4.4%
0.5% 2.9% 3.4%
0.0% 0.5% 0.5%
0.0% 0.5% 0.5%
0.0% 0.0% 0.0%
*A total of 178 qualified advisers voting. To qualify, an adviser had to be
personally involved in evaluating and recommending fund choices in
an advisory capacity with qualified plan clients. " Top 5% " = number of
qualified advisers (of 207 total) selecting the fund family. " 1st Place % " =
number of first-place votes out of total Top 5 votes.
1 Vanguard
2 American Funds
3 T. Rowe Price
4 Fidelity
5 J.P. Morgan
6 BlackRock
7 PIMCO
8 MFS
9 American Century
10 Oppenheimer
11 DFA
12 TIAA-CREF
13 Legg Mason
14 Invesco
15 Prudential
16 Janus
17 Charles Schwab
18 Columbia
19 Principal
20 Dodge & Cox
Prudential Retirement
34%
31%
15%
19%
29%
37%
13%
22%
2ND 1ST OR 2ND
ADP Retirement Services
47%
34%
10%
10%
10%
39%
43%
8%
Charles Schwab
33%
21%
14%
33%
26%
39%
6%
29%
Lincoln Financial Group
22%
33%
20%
25%
12%
31%
31%
27%
OneAmerica
27%
38%
11%
24%
18%
34%
26%
23%
Mutual Funds Advisers Most Often Recommend
To Plan Sponsors (168 advisers voting; 773 total votes)
1 Vanguard S&P 500 Index
2 American Funds Euro Pacific Growth
3 American Funds Target Date Series
4 T. Rowe Price Blue Chip Growth
5 Vanguard Target Date Series
6 T. Rowe Price Target Date Funds
The Standard
16%
32%
15%
37%
12%
32%
10%
45%
Vanguard
40%
42%
9%
9%
7 PIMCO Income Fund
8 Western Asset Core Plus Bond Fund
9 Fidelity S&P 500 Fund
29%
44%
14%
13%
10 American Funds American Balanced Fund
TIAA
35%
28%
8%
29%
9%
28%
37%
26%
VOTES
Voya Financial
37%
39%
15%
8%
20%
39%
27%
14%
57
38
28
27
26
23
20
18
14
12
Top 20 Fund Families Preferred by Plan Advisers*
1ST
TOP 5
VOTES
129
125
99
75
65
62
33
28
22
22
19
16
16
14
10
9
8
8
8
7
TOP
5%
71%
69%
54%
41%
36%
34%
18%
15%
12%
12%
10%
9%
9%
8%
5%
5%
4%
4%
4%
4%
PLACE
VOTES
46
47
22
6
10
17
1
4
1
2
3
1
3
3
1ST
PLACE
25%
26%
12%
3%
5%
9%
1%
0%
2%
1%
1
%
34%
23%
17%
16%
15%
14%
12%
11%
8%
7%
Reprinted from PLANADVISER September-October 2018. ©1989-2018 Strategic Insight
No reproduction or redistribution without prior authorization. For information, call (203) 595-3
American Funds Distributors
37%
48%
8%
7%
31%
44%
14%
12%
Empower Retirement
63%
28%
6%
3%
54%
36%
8%
1%
MassMutual Financial Group
42%
44%
12%
2%
17%
54%
23%
5%
Paychex
35%
39%
11%
15%
2%
17%
68%
13%
Ascensus
43%
33%
11%
12%
16%
43%
27%
14%
Fidelity Investments
77%
18%
3%
2%
53%
32%
13%
1%
Nationwide Financial
26%
33%
22%
19%
11%
30%
32%
27%
Principal Financial G
59%
32%
5%
3%
30%
43%
22%
5%
Transamerica
43%
38%
14%
5%
22%
35%
33%
10%
Wells F
22%
32%
14%
32%
9%
32
2
3
Reprinted from PLANADVISER September-October 2018. ©1989-2018 Strategic Insight. All Rights Reserved.
No reproduction or redistribution without prior authorization. For information, call (203) 595-3276 or email reprints@
PASO18_reprint_RPA-Survey_p1.indd 4
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PLANADVISER - November/December 2019

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