While just over half of the estimated 315,000 retail investment advisors in the United States currently support at least one 401(k) plan, only 7% of advisors are heavy plan producers with $25 million or more in 401(k) assets under management, according to a new report.
Cogent Research, Cambridge, Mass., published these and other findings in its new 2011 Retirement Plan Advisor Trends report. The report is based on a nationally representative survey of 523 DC plan producers with a minimum of 5% of total AUM invested in 401(k) plans.
On average, "heavy producers" support 30 plans, compared to an average of 11 among "moderate producers" ($5-<$25 million 401(k) AUM) and five among "light producers" (<$5 million 401(k) AUM).
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