Consider this: Vanguard, which Pensions & Investments ranks as the fourth largest recordkeeper to defined contribution plans by number of participants, accounts for about 5 percent of the market place. The firm now serves more than 5 million participants, according to its 2019 How America Saves report. All told, there are now more than 100 million DC accounts nationwide. By comparison, Fidelity's recordkeeping arm serves more than 20.8 million accounts, or more than one-fifth of the total market. But by share of total assets, the Valley Forge, PA-based firm accounts for nearly 19 percent of the more than $7.5 trillion market; assets in Vanguard plans were more than $1.4 trillion as of the end of the first quarter this year.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
