A report by Cerulli on the future of the retirement plan business had a startling number. The report showed estimates that the 10 largest recordkeepers will represent more than 75% of record kept 401(k) assets by year-end 2019. That\u2019s a startling number if you happen to be a recordkeeper or TPA. The gist of the report is that recordkeepers and TPAs need to get big or get smart.<\/p>\n
Unless you\u2019re in a position to start buying smaller competitors, you\u2019re going to need to get smart by advancements in technology, marketing, and thoughts outside the box to remain competitive in the business. You don\u2019t have to compete with the big boys and girls in numbers to remain competitive, you need differ5entiuators in your approach that will allow you to stand out. Otherwise, you\u2019ll be the next local hardware store or Rickel\u2019s or Channel when Home Depot started expanding.<\/p>\n
<\/span><\/p>","protected":false},"excerpt":{"rendered":" A report by Cerulli on the future of the retirement plan business had a startling number. The report showed estimates that the 10 largest recordkeepers will represent more than 75% of record kept 401(k) assets by year-end 2019. That\u2019s a … Continue reading