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October 14, 2013 at 11:52 AM
Currently, three out of four advisors use managed money solutions, and usage is even higher in the broker-dealer channels, according to a new report from Cogent Research.
The survey reveals that virtually all (96 percent) of bank advisors have at least a portion of their clients’ assets in managed solutions. This is in contrast to just four in ten (42 percent) of RIAs, who prefer to manage portfolio construction themselves.
“On average, advisors using managed accounts rely heavily on these solutions, meaning that providers should consider ramping up their engagement with gatekeepers at the large broker/dealers, in addition to maintaining their level of outreach and support to advisors,” the report states.
The following table reveals the percentage of advisors using managed money solutions:
| Total |
National |
Regional |
Independent |
Bank |
RIA |
| 76% |
82% |
81% |
79% |
96% |
42% |
In separate news, a Cogent Research report shows that defined contribution plan participants who are auto-enrolled contribute 7.6 percent of their income to their retirement plan, slightly higher than the rate of 7.3 percent who are not. However, participants enrolled in auto-increases contribute an impressive 9.3 percent of salary on average, a full percentage point higher than the industry average.
