Top 10 record keepers of defined contribution plans
Fidelity Investments, the largest record keeper, extended its dominance in 2016.
The largest defined-contribution-plan record keepers all experienced positive asset growth last year, according to Pensions & Investments‘ annual record keeper survey.
Bank of America Merrill Lynch, the No. 7 service provider by assets, had the largest year-over-year percentage growth, at just over 18%.
But Fidelity Investments, the leader of the pack, extended its dominance by gaining more than $200 billion in plan assets. Roughly $1.1 trillion now separates the firm from its next-closest competitor.
Top 10 record keepers of defined contribution plans, by assets
Source: InvestmentNews sister publication Pensions & Investments’ annual record keeper survey
Note: Based on total assets as of the third quarter of 2015 and 2016. *Conduent was formed in 2017 after separating from Xerox Corp.
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