High-growth DC practices grew plan assets 121% from 2023 to 2025

High-growth retirement plan advisory practices grew defined contribution assets 121% from 2023 to 2025, compared with 28% for the rest of the market, according to BlackRock's 2026 Read on Retirement Plan Advisor Survey.

InvestmentNews first reported the findings on Oct. 27. Escalent fielded the survey between Aug. 6 and Aug. 24, 2026, polling more than 300 retirement plan advisors across bank broker-dealers, independent broker-dealers, RIAs, regional broker-dealers and wirehouses. Each managed at least $10 million in DC plan assets. BlackRock sorted respondents into high-growth cohorts using a DC Practice Index based on three-year DC AUM growth, revenue growth, new plan acquisition rates and client retention.

The high-growth cohort put 28% more of its time into business development than the rest of the market and drew a 36% greater share of its expansion from existing clients. Advisors can check those figures against their own time allocation and client-sourcing mix.

Revenue growth in the high-growth cohort reached 138%, compared with 32% for peers. High-growth practices also averaged 90% client retention, compared with 86% for the broader market, a gap the survey describes as compounding over time.

Three in five high-growth practices say plan relationships often or very often lead to managing the business owner's personal investable assets, a rate 60% higher than peers. The cohort also reports participant-to-wealth conversion rates above 20% at a rate 68% higher than the rest of the market.

The mid-market — plans with $100 million to $1 billion in assets — was named the greatest growth opportunity by 31% of high-growth practices, compared with 16% of the rest of the market. The survey describes the segment as combining meaningful plan assets with demand for sophisticated advice and economics more accessible than the large-plan market.