PLANADVISER - Spring 2023 - 6
Just the Facts
The Rollover Tug of War
More than 5 million taxpayers rolled approximately
$548 billion into traditional and Roth individual
retirement accounts in 2019 (the latest data available
from the IRS). In 2022, 42% of rollovers were to
recordkeeper-affiliated IRAs, whereas 39% were to IRAs
from third-party providers, says research from Hearts
& Wallets. This apparent favoring of recordkeeper IRAs
signifies a potential threat to the hopes of retirement
advisories, which increasingly are merging or
partnering with wealth management firms.
Managed Accounts
Although recordkeepers have substantially
upped their offerings of managed accounts, plan
participants haven't been buying, according to the
NEPC 2022 Defined Contribution Plan Trends and Fees
Survey. Alison Lonstein, a principal in NEPC, attributes
the slow take-up to " automatic enrollment inertia, as
most are being defaulted into target-date funds. ... We
expect the largest value to be for participants over age
40 with more complex life circumstances. "
Managed Account
Users by Age
l Under 40
l 40 - 55
l Over 55
25%
39%
36%
Managed Account
Fee Trends
* Fees are becoming
more negotiable
* Some providers
are offering assetbased
fees with
a hard-dollar cap
per participant
Managed Account Availability and Uptake
38%
of plans offer
the accounts
to participants
5%
of participants who
have the accounts
6 planadviser.com | Spring 2023 | Participants
4%
of participants who
have the accounts
available utilize them available invest in them
$24.0b
2021
$32.3b
2022
TDF
Market
Share
Accelerates
Target-date funds captured
the largest share of 401(k)
savers' contributions, taking 47%
of them-more than double the
deferrals into large U.S. equity
funds, which were runner-up
with 21%, says 2022 research
from Alight Solutions.
Target-date
funds
U.S. equity
funds
21%
Retirement savers boosted
TDF contributions last year
at a 35% higher rate than in
2021-well off the negative
flows seen in 2020 at the height
of the pandemic, according to
the latest data from investment
research provider Morningstar.
Savings inflows to TDFs were
about $32.3 billion in 2022, up
from the $24 billion they drew
in 2021.
47%
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PLANADVISER - Spring 2023
Table of Contents for the Digital Edition of PLANADVISER - Spring 2023
A Step in a New Direction
PLANADVISER Adviser Value Survey
DB Summit
What Participants Need
Advanced Offerings
Expanding the Adviser Remit
The Long Goodbye
Missed Opportunities
How to Avoid Fee Conflicts
Who’s to Blame?
PLANADVISER - Spring 2023 - C1
PLANADVISER - Spring 2023 - C2
PLANADVISER - Spring 2023 - 1
PLANADVISER - Spring 2023 - 2
PLANADVISER - Spring 2023 - 3
PLANADVISER - Spring 2023 - 4
PLANADVISER - Spring 2023 - 5
PLANADVISER - Spring 2023 - 6
PLANADVISER - Spring 2023 - 7
PLANADVISER - Spring 2023 - 8
PLANADVISER - Spring 2023 - 9
PLANADVISER - Spring 2023 - 10
PLANADVISER - Spring 2023 - 11
PLANADVISER - Spring 2023 - 12
PLANADVISER - Spring 2023 - 13
PLANADVISER - Spring 2023 - A Step in a New Direction
PLANADVISER - Spring 2023 - 15
PLANADVISER - Spring 2023 - 16
PLANADVISER - Spring 2023 - 17
PLANADVISER - Spring 2023 - PLANADVISER Adviser Value Survey
PLANADVISER - Spring 2023 - 19
PLANADVISER - Spring 2023 - 20
PLANADVISER - Spring 2023 - 21
PLANADVISER - Spring 2023 - 22
PLANADVISER - Spring 2023 - 23
PLANADVISER - Spring 2023 - DB Summit
PLANADVISER - Spring 2023 - 25
PLANADVISER - Spring 2023 - What Participants Need
PLANADVISER - Spring 2023 - 27
PLANADVISER - Spring 2023 - 28
PLANADVISER - Spring 2023 - 29
PLANADVISER - Spring 2023 - Advanced Offerings
PLANADVISER - Spring 2023 - 31
PLANADVISER - Spring 2023 - Expanding the Adviser Remit
PLANADVISER - Spring 2023 - The Long Goodbye
PLANADVISER - Spring 2023 - Missed Opportunities
PLANADVISER - Spring 2023 - 35
PLANADVISER - Spring 2023 - How to Avoid Fee Conflicts
PLANADVISER - Spring 2023 - 37
PLANADVISER - Spring 2023 - Who’s to Blame?
PLANADVISER - Spring 2023 - 39
PLANADVISER - Spring 2023 - 40
PLANADVISER - Spring 2023 - C3
PLANADVISER - Spring 2023 - C4
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https://www.planadviserdigital.com/planadviser/industryleader_2023
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https://www.planadviserdigital.com/planadviser/november_december_2022
https://www.planadviserdigital.com/planadviser/september_october_2022
https://www.planadviserdigital.com/planadviser/july_august_2022
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https://www.planadviserdigital.com/planadviser/industry_leader_awards_2022
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https://www.planadviserdigital.com/planadviser/november_december_2021
https://www.planadviserdigital.com/planadviser/september_october_2021
https://www.planadviserdigital.com/planadviser/july_august_2021
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https://www.planadviserdigital.com/planadviser/november_december_2020
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https://www.planadviserdigital.com/planadviser/november_december_2019
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https://www.planadviserdigital.com/planadviser/july_august_2019
https://www.planadviserdigital.com/planadviser/may_june_2019
https://www.planadviserdigital.com/planadviser/march_april_2019
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https://www.planadviserdigital.com/planadviser/november_december_2018
https://www.planadviserdigital.com/planadviser/september_october_2018
https://www.planadviserdigital.com/planadviser/july_august_2018
https://www.planadviserdigital.com/planadviser/may_june_2018
https://www.planadviserdigital.com/planadviser/march_april_2018
https://www.planadviserdigital.com/planadviser/january_february_2018
https://www.planadviserdigital.com/planadviser/november_december_2017
https://www.planadviserdigital.com/planadviser/september_october_2017
https://www.planadviserdigital.com/planadviser/july_august_2017
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