In 2018, the Vanguard Group, the behemoth Malvern, Pa.-based registered investment advisor, finally surpassed Fidelity Investments as the leader in 401(k) 澳洲幸运5官方开奖结果体彩网:assets under management (AUM), with a staggering $6.2 trillion under its watch. Vanguard’s success is largely attributed to the popularity of its 澳洲幸运5官方开奖结果体彩网:low-cost index funds, coupled with its full-service💃 401(k) management desk.

Indeed, according to a book by 澳洲幸运5官方开奖结果体彩网:John Bogle—who created the first indexed mutual fund in 1975 after he established the Vanguard Group and who died In January 2019 at age 89—the success of index funds will likely result in just a handful of money management firms controlling half of all U.S. stocks. In Vanguard’s case, its one-stop shopping🦂 has ♒attracted retirement plan sponsors in droves.

Vanguard 401(k) Plan Services

Through its Institutional Investor Group, Vanguard offers an array of 401(k) management services, ranging from plan design and an💧alytics to investment management oversight. Plan sponsors are assigned a client relationship manager, who provides day-to-day support on al💎l aspects of plan management.

Furthermore, 澳洲👍幸运5官方开奖结果体彩网:Employment Retirement Income Securityܫ Act (ERISA) consultants are readily available to handle regulatory and compliance issues that may arise. Finally, Vanguard’s portfolio review department works closely with plan sponsors to vet and continuo𓆏usly monitor external fund managers.

Vanguard has invested heavily in its back-office systems to provide cutting-edge plan administration and record-keeping services. As a result, clients greatly benefit from more streamlined procedures that lower their costs and pinpoint areas for potential plan participation improvement.

How Is Vanguard Doing in 401(k) Mꦏanagement🔯 Services?

According to a study by marketing consultancy Cogent Reports, plan participants rated Vanguard the highest in overall satisfaction and specifically ranked it first in the following categories:

• Investment performance
• Website and online services
• Fund transaction fees
• Problem resolution
• Breadth of investment options
• Fee transparency
• Enrollment meetings

When plan sponsors were asked to a𒊎ssess their overall satisfaction with their plan provider, 83% of Vanguard clients expressed the highest contentment with their services. Meanwhile, the average plan provider satisfaction rate was just 62%. The survey also found that Vanguard ranked first in the following areas:

• Accuracy and timeliness of the transaction process
• Plan administration support
• Form 550 filing support
• Quality of investment options
• Fund expense ratios
• Quality and clarity of fee disclosure information
• Transparency of fees
• Plan administration fees

Plan sponsors hold the fiduciary responsibility of ensuring that investment management fees are reasonable, based on the services provided. According to Forbes, in 2022 they rated Vanguard Digital Advisor the Best IRA Account in 2022 for Hands-Off Investors.