| Empower Advisory Group, LLC | 56,682,533 | $1.5bn | 3.6% |
| Wealthfront Advisers LLC | 35,292,799 | $935.3m | 1.8% |
| JPMORGAN CHASE & CO | 27,874,223 | $741.5m | 0.0% |
| Municipal Employees' Retirement System of Michigan | 16,188,586 | $429.0m | 4.7% |
| SEI INVESTMENTS CO | 13,667,827 | $362.2m | 0.3% |
| MAI Capital Management | 11,540,399 | $305.8m | 1.1% |
| Cerity Partners LLC | 10,579,829 | $280.4m | 0.3% |
| LINCOLN NATIONAL CORP | 9,439,565 | $250.1m | 6.4% |
| ALLIANCEBERNSTEIN L.P. | 9,287,638 | $247.1m | 0.1% |
| VOYA INVESTMENT MANAGEMENT LLC | 8,798,660 | $233.2m | 0.2% |
| Virginia Estate & Retirement Planning Advisors Inc. | 8,707,371 | $230.7m | 34.9% |
| NEPC LLC | 8,321,737 | $220.5m | 4.1% |
| CENTRAL TRUST Co | 8,151,700 | $216.0m | 3.9% |
| Quadratic Capital Management LLC | 8,053,035 | $213.4m | 85.3% |
| Alesco Advisors, LLC, An ESL Co | 6,468,720 | $171.4m | 3.9% |
| ENVESTNET ASSET MANAGEMENT INC | 6,295,573 | $166.8m | 0.0% |
| Cerity Partners OCIO LLC | 5,620,759 | $149.0m | 7.5% |
| UBS Group AG | 5,313,609 | $140.8m | 0.0% |
| MORGAN STANLEY | 5,068,741 | $134.3m | 0.0% |
| Elm Partners Management LLC | 4,788,290 | $126.9m | 4.6% |
| US BANCORP \DE\ | 3,711,923 | $98.4m | 0.1% |
| Beacon Pointe Advisors, LLC | 3,653,308 | $96.8m | 0.4% |
| BANK OF AMERICA CORP /DE/ | 3,601,077 | $95.4m | 0.0% |
| ARMSTRONG ADVISORY GROUP, INC | 3,527,518 | $93.5m | 5.7% |
| AMERIPRISE FINANCIAL INC | 3,427,650 | $90.7m | 0.0% |