02.21.24

How Asset Managers Can Get ‘Dabblers’ To Pursue More DC Business

by: Brian Anderson

Cerulli Associates is urging asset managers to adapt their approach in working with advisors who focus on defined-contribution (DC) plans. Most top-tier asset managers have separate wholesaler teams dedicated to covering the DC market, including B/D-based advisor practices that specialize in advising retirement plans. But when it comes to “dabbler, ” advisors, for whom 15%-49% of their assets under management (AUM) are with retirement plans, and “nonproducer” advisors, for whom less than 15% of their AUM are with retirement plans, coverage areas between retail and DC wholesalers start to blur, says Cerulli.

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