Fintech record keepers are gaining serious momentum in the retirement plan industry, raising billions in capital and serving a growing share of defined contribution plans. But their success raises an important question: why are today’s fintech record keepers thriving when earlier internet-based providers failed more than 20 years ago?
The biggest difference comes down to payroll. Today’s fintech providers are not just offering newer technology; they are building stronger connections between payroll, plan administration, and distribution. By reducing manual work, improving integration, and making it easier for employers to manage retirement plans, these companies are helping remove some of the friction that has long made 401(k) administration so complex. Technology matters, but payroll may be the real key to making it work at scale.
Read Fred Barstein’s full article, “Why 401(k) Fintech Record Keepers are Thriving While Internet Providers Failed Over 20 Years Ago,” on WealthManagment.com/rpa
