Retirement Trends

Looking further out, Cerulli said 71 percent of advisors will leave the business within two decades.

Most of the growth will be in defined contribution plans, although a report from PricewaterhouseCoopers says traditional pension plans will remain viable until mid-century.

Seventy-seven percent of survey respondents said they owned real estate, and 35 percent said they owned real estate investment trusts.

A survey finds that up-and-coming wealthy individuals sought introductions and investigated potential wealth managers in a variety of ways.

Stocks rose, sending the Standard & Poors 500 Index higher for a fourth day, as Federal Reserve Chairman Janet Yellen said more work is needed to restore the labor market.

When the company made the announcement last week, many people in the industry said they would believe it when they see it. Schwab announced more than two years ago that it would develop an ETF-based 401(k) platform but never rolled one out.