More than one-third of the defined-contribution plan market is made up of small and mid-size plans, Cerulli Associates announced Thursday. The report notes that sponsors in this "sweet spot" have been underserved for years, opening opportunities to catch their business for recordkeepers, advisors, and third-party administrators who are able to meet their needs.
Small plans are those with between $1 million and $9 million, while mid-size plans have between $10 million and $49 million.
In fact, the report notes that some firms that typically service large and mega plans have "outlined plans to target service delivery" to companies with mid-size plans. "They recognize the sweet spot that this market has become for firms with expert services and strong brands," according to the report.
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