Largest Retirement Plan Advisors

The largest retirement plan advisors typically stand out because they serve many plan clients, support formal investment committees, and have repeatable fiduciary processes across a wide range of employers. This page ranks retirement plan advisors by reported client count so plan sponsors can quickly identify firms that operate at meaningful scale, then compare them by services, AUM, and geography. If you are looking for retirement plan consultants with a deep bench and broad market coverage, starting with the largest firms can be a practical first screen.

Largest Retirement Plan Advisors by Client Count

This ranking highlights retirement plan advisors with known client counts and sorts them from largest to smallest by reported retirement plan clients. For each firm below, we include reported AUM, plan-client scale, and a short summary of the firm's retirement plan advisory practice.

1. Merrill Lynch

   Retirement plan clients: 40,000
   AUM: $350.0B

   Merrill Lynch is one of the largest retirement plan advisors in the market, pairing national scale with Bank of America resources. Its retirement plan practice centers on defined contribution plans, including plan design, participant advice, and both 3(21) and 3(38) fiduciary support for sponsors that want either shared or delegated investment oversight.

2. LPL Financial LLC

   Retirement plan clients: 35,000
   AUM: $2.41T

   LPL Financial operates at very large scale and is best known for supporting independent advisors, institutions, and investment programs through a broad broker-dealer and RIA platform. In retirement plans, that scale shows up in advisor support, investment research, wealth technology, and retirement program infrastructure that can serve banks, credit unions, and employer-sponsored plans.

3. HUB Retirement and Private Wealth

   Retirement plan clients: 12,000
   AUM: $148.0B

   HUB Retirement and Private Wealth combines retirement plan consulting with broader wealth, benefits, and risk resources inside the larger HUB platform. Its retirement plan advisory practice includes 401(k) plan reviews, investment oversight, participant financial wellness, and both 3(21) and 3(38) fiduciary services for sponsors that want a more integrated advisory model.

4. Creative Planning

   Retirement plan clients: 10,000
   AUM: $700.0B

   Creative Planning has built a large retirement plan advisory practice alongside its broader wealth management business. The firm works with plan sponsors on plan design, compliance, participant advice, and both 3(21) and 3(38) fiduciary roles, making it a common shortlist candidate for employers that want both committee support and participant-facing guidance.

5. NFP, an Aon company

   Retirement plan clients: 10,000
   AUM: $110.0B

   NFP's retirement practice sits within a broader benefits, risk, and human capital advisory business. For plan sponsors, that often means retirement plan consulting tied to broader workforce and benefits strategy, including fiduciary support, plan governance, educational programming, and advice that fits into a larger employer benefits relationship.

6. Goldman Sachs

   Retirement plan clients: 8,000
   AUM: $280.0B

   Goldman Sachs advises retirement plans primarily through Goldman Sachs Asset Management, giving sponsors access to an institutional investment platform with deep research resources. Its retirement plan advisory practice includes 3(21) consulting, 3(38) investment management, participant advice, and plan design work for employers that want a large-firm fiduciary partner.

7. Morgan Stanley

   Retirement plan clients: 8,000
   AUM: $9.30T

   Morgan Stanley brings one of the biggest wealth and workplace platforms to the retirement plan market. Its retirement plan practice includes 3(21) and 3(38) fiduciary services, participant advice, and committee support, with the added benefit of a national advisor footprint and workplace financial solutions that can connect plan-level oversight to employee guidance.

8. UBS Financial Services

   Retirement plan clients: 7,000
   AUM: $3.80T

   UBS serves retirement plan sponsors through dedicated workplace wealth and retirement plan teams inside its broader wealth management business. The firm's retirement plan advisory practice includes 3(21) and 3(38) fiduciary support, participant advice, and ongoing plan oversight for employers that want a global wealth platform with workplace retirement capabilities.

9. Onedigital Investment Advisors LLC

   Retirement plan clients: 6,000
   AUM: $149.0B

   OneDigital combines retirement plan consulting with a broader HR, benefits, and workforce advisory platform. Its retirement plan advisor practice covers plan design, fee benchmarking, participant education, and both 3(21) and 3(38) fiduciary services, which can make it appealing to employers that want retirement advice connected to broader people and benefits strategy.

10. Raymond James Financial

    Retirement plan clients: 4,500
    AUM: $1.80T

    Raymond James supports employer-sponsored retirement plans through a national advisory network backed by centralized research and platform resources. Its retirement plan practice includes participant advice, plan committee guidance, plan design support, and both 3(21) and 3(38) fiduciary structures, giving sponsors a mix of local relationship coverage and large-firm scale.

11. Strategic Retirement Partners (SRP)

    Retirement plan clients: 4,100
    AUM: $26.4B

    Strategic Retirement Partners is built squarely around retirement plan consulting and outsourced fiduciary support. Its practice emphasizes plan design, participant guidance, committee training, and outsourced 3(38) investment management across plan types including 401(k), 403(b), defined benefit, cash balance, and ESOP arrangements.

12. Wells Fargo Advisors Financial Network, LLC

    Retirement plan clients: 4,000
    AUM: $1.40T

    Wells Fargo Advisors Financial Network brings a large advisor platform to retirement plan and wealth relationships. Its retirement plan advisory presence is tied to personalized investment planning, retirement strategy, and ongoing advisor support, making it more relevant for sponsors that want a large national brand with broad advisory and brokerage capabilities.

13. CAPTRUST

    Retirement plan clients: 3,500
    AUM: $1.00T

    CAPTRUST is one of the most established names in retirement plan consulting and is frequently shortlisted by sponsors looking for a dedicated fiduciary advisor. Its practice includes 3(21) and 3(38) support, compliance and fiduciary reviews, participant advice, and retirement plan design work, all backed by a large national advisory organization.

14. Arthur J. Gallagher & Co.

    Retirement plan clients: 3,000
    AUM: $0.1B

    Arthur J. Gallagher & Co. blends retirement plan advisory work with its broader insurance brokerage and risk management platform. For plan sponsors, that means access to 3(21) and 3(38) fiduciary services, participant advice, and plan design support through a firm that already serves many employers across benefits and risk-related needs.

15. SageView Advisory Group

    Retirement plan clients: 1,800
    AUM: $250.0B

    SageView is a well-known retirement plan consulting firm with a national office footprint and a strong fiduciary-process orientation. Its retirement plan advisory practice covers 3(21) and 3(38) services, compliance support, participant advice, and plan design consulting, and its CEFEX certification is a notable differentiator for sponsors focused on process discipline.

16. Northwestern Mutual

    Retirement plan clients: 1,200
    AUM: $85.0B

    Northwestern Mutual supports workplace retirement programs through a large advisor force that also works directly with participants and households. Its retirement plan practice includes plan design support, participant education, and ongoing advisory work for 401(k) and other ERISA-qualified plans, with a strong emphasis on tying workplace savings to broader personal planning.

17. EMBREE FINANCIAL Group

    Retirement plan clients: 80
    AUM: $2.0B

    EMBREE FINANCIAL Group is much smaller than the national platforms above, but it still appears in the ranked list because it has known retirement plan client data and a focused advisory practice. The firm's retirement plan work includes 3(21) fiduciary advice, plan design support, and participant guidance, with an approach that connects sponsor consulting to one-on-one employee advice.

How to use this ranking

Client count is a useful first-pass signal because it helps you identify retirement plan consultants that support many employer plans, but it should not be the only factor in your search. Review each firm's fiduciary model, service depth, and fit for your plan size. For a broader search, compare this page with the main retirement plan advisor directory, the narrower 401(k) advisor directory, and our guide on how to hire a retirement plan advisor. If you are weighing fiduciary structure, our explainer on 3(38) vs. 3(21) fiduciary services is a good next step.