|
 Industry
Insight from Fred Barstein
401kExchange 2009 Small Market ($1 -
$10M) Provider Ratings
In
an extremely rare occurrence, all top 10 providers for
investment services were new in 2009 as compared to the
top 10 in 2008 led by
M&I Institutional
Trust Services.
For record keeping and administrative services,
only four providers managed a repeat in the top 10.
Those four were
M&I Institutional Trust Services,
Schwab, CPI (now a subsidiary of
CUNA Mutual) and DailyAccess.
OneAmerica/AUL and Alliance Benefit Group scored
well in both categories.
Overall
satisfaction was down 37% for investment services which
might account for the new players gaining traction;
similarly, satisfaction was down 30% for admin and record
keeping services.
While distribution and brand
are difficult to obtain and key to winning plans, clearly
there are opportunities in the small market for niche
players like CPI, DailyAccess,
Guardian and Alliance Benefit
Group with larger providers like
OneAmerica/AUL and
Transamerica getting recognition at the expense of their
bigger rivals.
|
Investment
Services 2009 - $1-$10 Million |
|
|
|
# of
Surveys |
% Rated 4
or 5 |
2008
Ranking |
|
1 |
M&I
Institutional Trust Services |
61 |
39.34% |
|
|
T2 |
Alliance
Benefit Group |
63 |
33.33% |
|
|
T2 |
New York
Life |
45 |
33.33% |
|
|
T2 |
Alerus |
69 |
33.33% |
|
|
5 |
T Rowe
Price |
131 |
32.06% |
|
|
6 |
OneAmerica/AUL |
172 |
31.40% |
|
|
7 |
Paychex Inc |
107 |
29.91% |
|
|
8 |
MassMutual <View Profile> |
303 |
29.37% |
|
|
9 |
Transamerica |
346 |
29.19% |
|
|
10 |
Guardian |
73 |
28.77% |
|
|
|
Market
Total |
17,245 |
26.58% |
-36.91% |
|
|
Record
Keeping & Administrative Services 2009 -
$1-$10
Million |
|
|
|
# of
Surveys |
% Rated 4
or 5 |
2008
Ranking |
|
1 |
M&I
Institutional Trust Services |
60 |
46.67% |
8 |
|
2 |
Charles
Schwab & Co., Inc. |
93 |
45.16% |
6 |
|
3 |
Alerus
Financial Services |
67 |
38.81% |
|
|
4 |
Alliance
Benefit Group |
144 |
38.19% |
|
|
5 |
OneAmerica/AUL |
164 |
37.80% |
|
|
6 |
Angell
Pension Group |
67 |
37.31% |
|
|
7 |
Qualified
Benefits |
46 |
36.96% |
|
|
T9 |
CPI (A
Subsidiary of CUNA Mutual) |
87 |
35.63% |
1 |
|
T9 |
DailyAccess
Corporation |
87 |
35.63% |
11 |
|
|
Market
Total |
17,089 |
33.07% |
-29.77% |
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