A new study by Cogent Research found that although 52 percent of the estimated 315,000 U.S. retail investment advisors support at least one 401(k) plan, only 7 percent of those advisors are heavy plan producers, with $25 million or more in 401(k) assets under management.

On average, heavy producers support 30 plans, compared to an average of 11 among moderate producers, worth between $5 and $25 million, and five among light producers, worth less than $5 million, according to the 2011 Retirement Plan Advisor Trends report.  The report is based on the results of a survey of 523 defined contribution plan producers with a minimum of 5 percent of total assets under management invested in 401(k) plans.

The average plan managed by a heavy producer is $4.2 million, compared to $1 million for light producers and $3 million for moderate producers.

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