{"id":1721,"date":"2018-09-07T09:47:56","date_gmt":"2018-09-07T14:47:56","guid":{"rendered":"https:\/\/www.rixtrema.com\/blog\/?p=1721"},"modified":"2020-02-22T07:27:57","modified_gmt":"2020-02-22T12:27:57","slug":"advisors-concerned-about-consolidation-among-record-keepers-in-the-401k-business","status":"publish","type":"post","link":"https:\/\/rixtrema.com\/blog\/advisors-concerned-about-consolidation-among-record-keepers-in-the-401k-business\/","title":{"rendered":"Advisors concerned about consolidation among record keepers in the 401K business"},"content":{"rendered":"

InvestmentNews<\/a> recently reported on how the consolidation of record-keepers could be a bad omen for 401(k) plans. Over the years, many record-keepers have been sold or merged together with other providers. If providers keep consolidating, this could mean that many retirement plans might get shoe-horned into more restrictive plans or even drop them all-together. We\u2019ve been witnessing a growing trend in 401(k) plans to actually move money away from record-keepers to in house funds as well as a general drop in the expense. This means that the record-keepers are getting less and less money and might be more compelled to consolidate as the trends continue.<\/span><\/p>\n

While it may be true that the providers will continue to consolidate, it doesn\u2019t necessarily mean bad news for 401(k) plans. We\u2019re seeing a more open ability for retirement plans to choose the best, and most cost efficient funds for their plan as well as a general drop in expense of many funds. As noted in the original article by InvestmentNews, there are even some advisors that don\u2019t believe that this consolidation of record-keepers is necessarily a bad sign. If the trend for more openness in fund selection and lower fees continues, it could equally be a great thing for retirement plans as it means providers are continuing to \u201cimprove their offering\u201d.<\/span><\/p>\n

Using the 401kFiduciaryOptimizer, advisors can take advantage of the large offerings of funds out there from many different providers to locate deficiencies in plans that might be stuck in a restrictive plan menu which has high-cost funds. See how you can find cheaper, highly similar alternatives to the funds of any plan menu HERE.<\/a><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

InvestmentNews recently reported on how the consolidation of record-keepers could be a bad omen for 401(k) plans. Over the years, many record-keepers have been sold or merged together with other providers. If providers keep consolidating, this could mean that many retirement plans might get shoe-horned into more restrictive plans or even drop them all-together. We\u2019ve… <\/p>\n

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