INSIGHTS

Advisors/Consultants Consolidation The consolidation craze has made its way to the Retirement Plan Advisor/Consultant marketplace. Private equity firms, large financial services organizations and national benefits firms have all entered into agreements to acquire retirement plan advisory/consulting resources. Examples include: With 401(k) and other types of retirement plans becoming more complex, Plan Sponsors have become reliant on their advisor/consultant to provide unbiased advice. The recent advisor/consultant consolidation is blurring the lines as firms, who were primarily focused on independent 401(k) consulting,…

Recordkeeping Consolidation Continued fee compression in 401(k) plan recordkeeping services is accelerating the need for economies of scale. Whether it is continued technological improvements, such as the adoption of cloud technologies or the need to offer a wider suite of services, recordkeepers are realizing they need to adjust or exit the business.  Perhaps the best example of this trend occurred in 2020 when Vanguard partnered with Infosys, Ltd. of India. Infosys has assumed operational control of the recordkeeping platform, including integrating all…