1. Dan Cwenar
President and General Manager
Access Data, a Broadridge Company
Leveraging Data and Analytics to
Drive Your DCIO Business
February 10, 2014

2. 2
Today
• Product distribution
• Retirement channel distribution
• Insights into the “advisor driven” DC market
• Conclusions

3. 3
I: Expectations are high

4. 4

5. 5
II: Framework for thinking about data
Volume
Velocity
Variety
Veracity
Inversely
proportional?
Doug Laney, 2001

6. 6
III: Data solutions versus rules-based solutions
• Payroll and accounting solutions are rule dependent
• Data solutions
• Not knowing all the questions is OK
• “Directional” idea: “I want to understand DCIO distribution”

7. 7
IV: Role of variety
• Big Data can indeed be BIG
• +55,000 files per month
• 1x1010 data points
• Variety

8. Product Distribution

9. 9
Generic product distribution is complex and dynamic1
92.4 million
Investors
290 million accounts,
54 million households
38,160
Sales & Distribution
Professionals
+500,000
Advisors,
+20,000 Firms
16,380
Products
Manufacturers distribute products directly to investors
776 Fund Sponsors,
$16 Trillion AUM
Manufacturers distribute products via intermediaries to investors
1. Data based on the 2013 ICI Fact Book, ICI Quarterly update bulletins, and Broadridge proprietary research

10. 10
Industry trends create unique data challenges
• Omnibus accounting  less transparency
• Lack of data exchange standards  poor data quality and management
• Regulatory environment  fee scrutiny, held away assets, revenue sharing
• Complex distribution environment  many data islands
• Difficulty finding the right advisors  500,000 advisors with different needs and preferences
Intermediary 1
Intermediary 2
Intermediary 3
Intermediary 4
Intermediary 5
Intermediary n
Mfg 1
Mfg 2
Mfg 3
Mfg 4
Mfg 5
Mfg n
Typical Data Exchange
Process

11. Retirement Channel
Unique transparency challenges

12. 12
Components of product distribution1
Manufacturers
+700
Products
+16,000
Sales / Ops
+38,000 professionals
Intermediaries
+20,000 firms
Advisors
+500,000
Investors
+92M / $16T
Generic 3rd party
distribution model
1. Data based on the 2013 ICI Fact Book, ICI Quarterly update bulletins, and Broadridge proprietary research

13. 13
New entities are introduced1
Plan
Participants
Plan
Sponsors
Plans
(large versus
small)
Record
Keepers and
TPAs
Advisors
(DC specialists)
Manufacturers
+700
Products
+16,000
Sales / Ops
+38,000 professionals
Intermediaries
+20,000 firms
Advisors
+500,000
Investors
+92M / $16T
1. Data based on the 2013 ICI Fact Book, ICI Quarterly update bulletins, and Broadridge proprietary research

14. 14
Product distribution becomes MORE complex1
Manufacturers
+700
Products
+16,000
Sales / Ops
+40,000 professionals
Distributors / TA
+20,000 firms
Advisors
+500,000
DC Record Keepers /
TPAs +1,500
DC Plans
+650,000
Plan Sponsors
+450,000
Plan Participants
+88M / $5.6T
Advisors
(DC Specialists) +5,000
Without data and analytics,
finding these advisors is
challenging
The 1%
Problem
Manufacturers
+700
Products
+16,000
Sales / Ops
+38,000 professionals
Intermediaries
+20,000 firms
Advisors
+500,000
Investors
+92M / $16T
DC Distribution3rd Party Distribution
1. Data based on the 2013 ICI Fact Book, ICI Quarterly update bulletins, and Broadridge proprietary research

15. 15
Fastest growing segment of
employer sponsored plans
(27% 1985 / 41% 2012)
1. Data based on the 2013 ICI Fact Book, ICI Quarterly update bulletins, and Broadridge proprietary research
Context of “advisor driven” assets1
DC – MF
$3.3T
(59% of DC)
DC: 401k, 403b, 457, Keogh
$5.6T
(26% of Retirement)
IRA, DC, Private DB, Government, Annuity
$21.9T

16. 16
Advisors target small to medium
DC Plans. These plans
overwhelmingly employ Mutual
Fund products.
Fastest growing segment of
employer sponsored plans
(27% 1985 / 41% 2012)
1. Data based on the 2013 ICI Fact Book, ICI Quarterly update bulletins, and Broadridge proprietary research
DC: 401k, 403b, 457, Keogh
$5.6T
(26% of Retirement)
IRA, DC, Private DB, Government, Annuity
$21.9T
DC – Advisor
Driven
$2.0T
(36% of DC)
Context of “advisor driven” assets1

17. 17
Total Assets
$2T
Advisor Sold
DC Plans 450K
of 650K (70%)
Advisor Sold
DC Participants 49M
of 88M (56%)
Independents
$1.6T
$.4T
Supermarket-driven
1. Data based on Broadridge proprietary research
Advisor driven DC landscape1

18. Advisor Driven DC Market
Platform Insights

19. 19
Advisor driven DC assets by platform type1
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
Mutual Fund Platform Supermarket Platforms Insurance Platforms
Advisor Driven: $2T
1. Source: Plan Sponsor Survey and Broadridge proprietary research
20%
39.0%
60%
BillionsofDollars
20%

20. 20
DC plans by platform type1
-
50,000
100,000
150,000
200,000
250,000
300,000
350,000
Supermarket Platforms Mutual Fund Platform Insurance Platforms
Advisor Driven: 450K Plans
4%
1. Source: Plan Sponsor Survey and Broadridge proprietary research
NumberofPlans
67%
29%

21. 21
Top Fund, Supermarket, and Insurance platforms1
1. Source: Retirement Plan Sponsor Survey
Asset Rank Firm Millions of $ Plans Average Plan Size ($)
1 ING 301,720 47,718 6,322,981
2 Great West 178,166 27,266 6,534,365
3 Principal 136,987 47,857 2,862,423
4 Mass Mutual 104,318 37,159 2,807,341
5 Transamerica 82,292 20,345 4,044,827
6 Nationwide 79,161 40,698 1,945,083
7 John Hancock 71,105 44,620 1,593,568
8 Lincoln 48,940 23,429 2,088,864
9 New York Life 32,595 1,650 19,754,545
10 OneAmerica 18,100 9,700 1,865,979
1,053,384 300,442 3,506,114
Asset Rank Firm Assets (millions of $) Plans Average Plan Size ($)
1 Fidelity 1,096,623 32,293 33,958,536
2 Prudential 199,488 5,145 38,773,178
3 Schwab 109,363 1,164 93,954,467
4 Ascensus 41,973 41,338 1,015,361
5 ADP 40,473 35,384 1,143,822
6 American Funds 37,648 34,686 1,085,395
7 Newport 23,422 2,261 10,359,133
8 CUNA Mutual 11,315 6,214 1,820,888
9 Daily Access 8,050 1,595 5,047,022
10 Aspire 5,637 6,056 930,812
1,573,992 166,136 9,474,118

22. Advisor Driven DC Market
Advisor Insights

23. 23
Advisor affiliation: advisors selling one or more plans1
-
10,000
20,000
30,000
40,000
50,000
60,000
Banks and Trust
Companies
RIA Independent /
Regional BDs
Wirehouse
68%
22%
5%5%
1. Source: Broadridge proprietary research
NumberofDCAdvisors

24. 24
Advisors selling DC plans1
85K
67K
18K
-
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
Total Advisors Selling DC
Plans
Advisors on One Platform Advisors on Multiple
Platforms
79%
21%
100%
1. Source: Broadridge proprietary research
NumberofDCAdvisors

25. 25
3.68
2.2
1.3
-
1
2
3
4
Retirement Specialists Retirement Users Total Participating Advisors
Top advisors by number of platforms1
5K
Advisors
13K
Advisors
85,000
Advisors
15%
(of 85K)
6%
(of 85K)
or
1%
(of 500K)
1. Source: Broadridge proprietary research
NumberofDCAdvisors
Further segment the 18K who are affiliated with
multiple platforms…

26. 26
20+,
16%
10-19,
24%
5-9,
25%
1-4,
35%
Currently Manage in 2012
Average number of plans managed per year1
BASE = Advisors with 5%+ AUM in 401(K) Plans
1. Source: Cogent Research, Retirement Plan Advisor Brandscape® 2012
20+,
24%
10-19,
25%
5-9,
28%
1-4,
23%
Anticipate in 2013

27. Conclusions
Advisor Insights

28. 28
I: Conclusions: Strategies for driving growth
• The advisor driven DC market is significant and
growing
• Gaining insights into this market can be challenging
• Finding the needle in the haystack can be challenging (1% problem)
• Use data to identify best prospects

29. 29
II: Conclusions: Strategies for driving growth
• A data management program is key to growing your
business
• Data live everywhere and change daily
• “VARIETY”: Link retirement specialists with their associated plans
• Segmentation

30. 30
III: Conclusions: Strategies for driving growth
• “Data Insights” support:
• Territory management / sales staff allocation
• Competitor analysis (region, product, and channel)
• Compensation plans and management
• Using multi-channel communications, engaging content and education
• Measure results / modify approach

31. 31
http://access-data.broadridge.com/

32. Thank You
Leveraging Data and Analytics to
Drive Your DC and DCIO Business
February 10, 2014