In the wake of the pandemic, RPAs will need a fully integrated technology stack to leverage the convergence of wealth, retirement and benefits at the workplace.
When combined, the ideas and solutions expand exponentially. The power of three, or the trilogy, is a well-known concept in life, science and religion.
You can't outsource all of your fiduciary responsibilities, and not all retirement plan advisers are created equal.
Retirement plan advisers have to choose one client over the interest of others – and that affects the services they provide, their fiduciary responsibilities and profitability.
The case for emergency savings accounts has always been compelling. When low- to moderate-income workers run into problems, they either take out loans or make hardship withdrawals, contributing to plan leakage. The pandemic only highlighted the issue.
Though retirement planning seems so critical to those of us in the defined-contribution industry, just as copy machines seem to their salespeople, plan sponsors may not feel the same.
Managed accounts offer DCIOs the opportunity to be a more active and important part of the DC ecosystem. It moves them from being dependent on record keepers, advisers and plan sponsors to create the strategy to help participants, to being an advice provider of customized investment solutions.
As several recent deals show, such as OneDigital's purchase of Truist's RPA business, banks offer retirement plan advisers a chance to grow their business.
After private-equity partners lined up to invest in Captrust, which eventually selected GTCR, the firms that were left out were eager to invest. SageView became the most attractive option remaining.
The business is complex and competitive, and it is changing rapidly, industry leaders noted at several InvestmentNews events
