RPA Aggregator Roundtable: Navigating a Radical Shift in Retirement

/ By / 401k News, 6th Annual RPA Broker/Dealer Roundtable, Adaptability, AI, artificial intelligence, automation, Benchmarking & Fees (ERISA, retirement plan), Changing dynamics, Communication, Digital Tools, education, evolving and adapting, Fiduciary, Financial Advisors, financial literacy, financial wellness, Governance, Investments, Recordkeeping, Regs and Regulators, Retirement Income, RPA Aggregator Roundtable

Aggregator RoundtableAt the seventh annual RPA Aggregator Roundtable, industry leaders tackled a transformative shift in the retirement space driven by three major trends:

  1. Scaling Advice: With 97% of DC participants lacking personal advisors, scalable advisory solutions are crucial.
  2. Small Plan Surge: Government mandates are fueling a boom in small plans, creating both opportunities and challenges.
  3. Guaranteed Income: As Baby Boomers retire in large numbers, the demand for guaranteed retirement income continues to grow.

Key challenges include data privacy concerns, shifting advisor-record keeper relationships, and leveraging AI to scale services.  Firms like Captrust are leading by acquiring wealth management capabilities, while advisors face increasing competition from record keepers seeking to diversify their revenue streams.

Technology, capital, and strategic acquisitions will be essential as the convergence of wealth, retirement, and benefits reshapes the market. Only those firms willing to innovate and adapt will stay relevant in this fast-evolving landscape.

Read more in Fred Barstein’s latest Wealth Management article: “RPA Aggregator Roundtable: Radical Sea Change Happening Now.“

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