PLANADVISER - September/October 2019 - 32

Top-Rated Defined Contribution Plan Providers
METHODOLOGY. The 2019 PLANADVISER Retirement Plan Adviser Survey was open for response
throughout September, and 547 advisers did so. Survey questions captured adviser insights on
industry decision-drivers as well as assessments of investment managers, mutual funds and
defined contribution (DC) plan providers.
Investment manager and mutual fund ratings were derived from feedback from the 477
advisers who were personally involved in the evaluation and recommendation of investment
options. DC recordkeeper evaluations are based on responses from 457 advisers who personally
have evaluated and recommend these providers for qualified plan clients. Top 10 lists reflect
the percentage of respondents who recognized the recordkeeper as having the " best service "
in that category, based on a count of those who had worked with the recordkeeper at least
several times.
Overall, advisers needed to have worked with a DC plan provider at least once to offer
insight on the size and scope of advisers' qualified plan business,
feedback on it. Additional
practice management, compensation, and client service strategies is available in the 2019
PLANADVISER Practice Management/Benchmarking Survey, fielded and published separately. For
more information and additional research available, please contact surveys@issgovernance.com.
Best Overall Service, Micro Plans (<$5mm) 367 votes
1 Securian Financial
2 Ascensus
3 Voya Financial
4 American Funds Distributors
5 CUNA Mutual Retirement Solutions
6 John Hancock
7 ADP Retirement Services
8 Lincoln Financial Group
9 Empower Retirement
10 Principal Financial Group
56.5%
55.4%
39.2%
32.6%
32.0%
28.2%
27.6%
25.9%
25.3%
21.6%
Best Overall Service, Midsize Plans (>$50mm - $200mm) 352 votes
1 Bank of America
2 Fidelity Investments
3 Charles Schwab
4 Empower Retirement
5 Prudential Retirement
6 Milliman, Inc.
7 Principal Financial Group
8 OneAmerica
9 The Vanguard Group, Inc.
10 T. Rowe Price
65.0%
51.4%
33.8%
26.6%
20.5%
20.0%
16.4%
12.0%
11.8%
9.9%
Best Overall Service, Small Plans ($5mm - $50mm) 390 votes
1 Empower Retirement
2 Securian Financial
3 Lincoln Financial Group
4 Principal Financial Group
5 Voya Financial
6 John Hancock
7 Charles Schwab
8 Fidelity Investments
9 Nationwide
10 The Standard
51.9%
47.8%
40.7%
23.4%
20.6%
20.2%
19.1%
18.1%
16.7%
16.2%
Best Overall Service, Large Plans (>$200mm - $1b) 284 votes
1 Bank of America
2 Fidelity Investments
3 Milliman, Inc.
4 Charles Schwab
5 The Vanguard Group, Inc.
6 Empower Retirement
7 T. Rowe Price
8 Prudential Retirement
9 Transamerica Retirement Solutions
10 MassMutual
50.0%
49.8%
30.0%
23.5%
16.8%
15.5%
15.4%
15.1%
10.1%
8.7%
32 | planadviser.com September-October 2019

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