12 Best & Worst Broker-Dealer 401(k) Plans: 2015

The firms that administer 401(k) plans for clients also have to make sure their own employees are ready to enjoy their retirement years.

Last year, we looked at the financial firms on our quarterly Best & Worst Broker-Dealers list through the lens of 401(k) plan ratings calculated by BrightScope. This year, Stifel Financial was the big winner, vaulting from last to near the top of this year’s rankings. 

The average rating for plans in the peer groups was about 90. The highest among the dozen firms we looked at was 88 and the lowest 71. That’s an improvement on both ends over 2014.

(See 12 Best & Worst Broker-Dealer 401(k) Plans: BrightScope and 30 Best Big 401(k) Plans: BrightScope.)

BrightScope uses more than 200 pieces of data to rate 401(k) plans. It then ranks them within peer groups of similar plan sizes and industries. An algorithm runs thousands of simulations to predict how quickly a plan would get the average participant ready for retirement.

BrightScope also quantifies how much longer an employee would have to work to make up for the difference between their firm’s retirement plan and that of the best in the peer group. (BrightScope has a full accounting of its system on its website.)

Take a look at the 12 Best & Worst Broker-Dealer 401(k) Plans for 2015:

12. JPMORGAN Chase & Co.

Rating: 71

Highest in Peer Group: 90

Additional Years of Work: 13

Lost Savings: $53,200

Plan Assets: $19.9 billion

Average Account Balance: $70,000

11. LADENBURG THALMANN

Rating: 74

Highest in Peer Group: 92

Additional Years of Work: 13

Lost Savings: $41,500

Plan Assets: $19.6 million

Average Account Balance: $83,000

10. LPL FINANCIAL

Rating: 75

Highest in Peer Group: 91

Additional Years of Work: 11

Lost Savings: $132,200

Plan Assets: $170.6 million

Average Account Balance: $46,000

9. RAYMOND JAMES

Rating: 76

Highest in Peer Group: 91

Additional Years of Work: 10

Lost Savings: $160,000

Plan Assets: $633.5 million

Average Account Balance: $66,000

8 (tie). WELLS FARGO

Rating: 79

Highest in Peer Group: 88

Additional Years of Work: 6

Lost Savings: $76,000

Plan Assets: $34.4 billion

Average Account Balance: $110,000

8 (tie). AMERIPRISE FINANCIAL

Rating: 79

Highest in Peer Group: 91

Additional Years of Work: 9