RESEARCH | June 11, 2020

2020
PLANADVISER DCIO Survey

Reported by PLANADVISER | Art by Melinda Beck

Top 10 Providers

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Top 10 Providers

DCIO MANAGERS, BY ASSETS ($MM AS OF 12/31/19)
1	BlackRock Inc.	$1,081,247
2	The Vanguard Group, Inc. (Vanguard)	$902,000
3	State Street Global Advisors	$400,740
4	T. Rowe Price	$400,535
5	Capital Group/American Funds	$363,948
6	J.P. Morgan Asset Management	$216,715
7	Invesco	$139,854
8	Fidelity Investments	$123,423
9	Wells Fargo Asset Management	$121,415
10	PIMCO	$119,551

LARGEST DCIO STANDALONE FUNDS, BY ASSETS ($MM AS OF 3/31/20)
1	S&P 500 (State Street Global Advisors)	$103,087
2	Equity Index (BlackRock Inc.)	$73,501
3	American Funds EuroPacific Growth Fund^®	$73,440
4	Vanguard Institutional Index Fund	$66,553
5	Invesco Stable Value	$61,356
6	PIMCO Total Return Fund	$29,899
7	Wells Fargo Stable Return Fund	$29,589
8	PGIM Total Return Bond/Core Plus	$26,867
9	Dodge & Cox Stock Fund	$26,422
10	T. Rowe Price Blue Chip Growth	$21,140

NUMBER OF DCIO FUNDS AVAILABLE ON RECORDKEEPING PLATFORMS
1	Fidelity Investments	285
2	The Vanguard Group, Inc. (Vanguard)	233
3	BlackRock Inc.	191
4	Invesco	150
5	T. Rowe Price	120
6	Wells Fargo Asset Management	114
7	PIMCO	113
8	Columbia Threadneedle Investments	108
9	Nuveen	102
10	Goldman Sachs	95

NUMBER OF RECORDKEEPING PARTNERS
1	Fidelity Investments	300
2	Janus Henderson Investors	250
3	Capital Group/American Funds	207
4	American Century	173
5	T. Rowe Price	130
6	Lord Abbett	125
7	AllianceBernstein	99
8	Hartford Funds	92
9	Franklin Templeton	84
10	Nuveen	79

LARGEST DCIO TARGET-DATE FUNDS, BY ASSETS ($MM AS OF 3/31/20)
1	LifePath Index (BlackRock Inc.)	$184,115
2	T. Rowe Price Retirement Date Funds	$135,679
3	JPMorgan SmartRetirement	$104,338
4	Vanguard Institutional Target Date Fund Series	$104,252
5	American Funds Target Date Retirement Series^®	$93,025
6	TDF CITs (State Street Global Advisors)	$53,293
7	AB Custom Retirement Strategies (AllianceBernstein)	$39,389
8	TIAA-CREF Lifecycle Active (Nuveen)	$28,100
9	One Choice Portfolios (American Century)	$17,359
10	Schwab Managed Retirement Trusts	$11,099

LARGEST INCREASE IN DCIO ASSETS (2018 VS. 2019)
1	Fidelity Investments	54.6%
2	Nuveen	32.8%
3	MFS Investment Management	32.6%
3	The Vanguard Group, Inc. (Vanguard)	32.6%
5	DoubleLine	32.5%
6	Charles Schwab Investment Management, Inc. (CSIM)	30.4%
7	Janus Henderson Investors	29.7%
8	AllianceBernstein	29.4%
8	Legg Mason Global Asset Management	29.4%
10	T. Rowe Price	28.9%