Fueled by an equity bull market and greater efforts to boost employee participation, defined contribution plan assets reached $6.4 trillion in 2013, according to new research from Cerulli Associates.
The company’s report, “State of DCIO 2014: The Emerging Role of the Specialist Advisor,” shows private defined contribution (DC) plan assets climbing to $4.7 trillion at year-end 2013. Of the total, $1 trillion in assets were advisor-sold.
“The advisor-sold share of private DC assets remained consistently near 20 percent over the past five years, reaching 21.5 percent in 2013,” the report states. “Mutual funds continue to be the dominant investment vehicle…”