Aggregators realize that in-plan retirement income solutions are needed, while CIOs understand that advisers need to be able to help participants navigate the myriad of benefits offered at work.
CIOs from the leading DC record keepers, aggregators and broker-dealers discussed their greatest opportunities and challenges.
While 'retirement plan adviser' has been a good description of those who serve ERISA retirement plans, it's actually quite limiting to focus on the plan, rather than the participant.
The start of the 2020s has been dominated by the three Cs — Covid, convergence and consolidation. Government mandates could cause the small and startup plan market to explode, and RPA consolidation has blown up.
Unlike any other industry event, the RPA Aggregator event had no agenda. All participants were focused on the defined-contribution industry’s biggest opportunities and challenges.
The transaction marks the first time a top-five RIA has acquired a top-five retirement plan adviser firm, which could send Creative Planning's rivals scrambling to find larger RPAs.
Last week’s announced purchase of Newport Group by Ascensus comes on the heels of Empower’s purchases of MassMutual’s and Prudential’s record-keeping divisions.
There's a war for talent heating up, fueled by the Great Resignation and more workers retiring as a result of the pandemic, which makes benefits more important than ever.
The RPA Broker-Dealer Roundtable and Think Tank covered getting data, providing plan access and helping participants with low balances.
The larger providers produced by consolidation will cater to larger RPA groups like aggregators and major broker-dealers at the expense of smaller, independent RPAs.
