Top retirement plan service providers
17,117plans served by Fidelity Investments Institutional
Fidelity Investments Institutional appears on 17,117 plans' Schedule C, more than any other provider. The list covers recordkeepers, investment advisers, asset managers and brokers.
Each name links to the provider's page: its plans, market share, wins and losses.
Data as of 2026-11-08. Source: U.S. Department of Labor Form 5500.
| # | Provider | Plans | Plan assets |
|---|---|---|---|
| 1 | Fidelity Investments Institutional | 17,117 | $4.74T |
| 2 | Empower Advisory Group, LLC | 12,464 | $2.09T |
| 3 | Principal Financial Group | 9,548 | $765.1B |
| 4 | ADP Broker-Dealer | 6,323 | $281.9B |
| 5 | Strategic Advisors, Inc. | 4,787 | $1.93T |
| 6 | John Hancock Life Insurance Company | 4,622 | $251.0B |
| 7 | The Vanguard Group, Inc. | 4,132 | $1.62T |
| 8 | Transamerica Retirement Solutions | 3,737 | $255.7B |
| 9 | Charles Schwab & Co., Inc. | 3,703 | $1.74T |
| 10 | Merrill Lynch Pierce Fenner & Smith | 3,125 | $436.1B |
| 11 | Morgan Stanley Smith Barney | 3,015 | $523.2B |
| 12 | Voya Financial Advisors Inc | 2,838 | $643.2B |
| 13 | Morningstar | 2,649 | $490.6B |
| 14 | Ascensus LLC | 2,462 | $56.6B |
| 15 | Wilshire Associates Incorporated | 2,392 | $105.9B |
| 16 | Global Retirement Partners LLC | 2,329 | $112.0B |
| 17 | American Funds | 2,154 | $306.5B |
| 18 | LPL Financial | 2,121 | $110.4B |
| 19 | Wells Fargo Bank, N.A. | 1,927 | $272.0B |
| 20 | TIAA | 1,827 | $511.5B |
| 21 | Capfinancial Partners LLC | 1,742 | $583.1B |
| 22 | UBS Financial Services Inc | 1,665 | $277.0B |
| 23 | Stancorp Financial Group | 1,625 | $40.0B |
| 24 | T Rowe Price RPS Inc | 1,560 | $892.1B |
| 25 | Willis Towers Watson US LLC | 1,546 | $1.58T |
How we counted
- Counts plans that list the provider on Schedule C. Schedule C is filed by large plans (generally 100+ participants) for providers paid $5,000 or more, so small plans are not counted.
- Provider names are merged across spelling variants. Plan assets are the total assets of the plans served, not assets the provider manages.
- Source: PlanOptica analysis of U.S. Department of Labor Form 5500 filings, newest filing of each active plan (plan years 2024 and 2025). Data as of 2026-11-08.
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