The largest and most oversubscribed RPA Broker/Dealer Roundtable to date took place at Broadridge’s New York City offices just ahead of the WealthManagement.com Industry Awards. Senior leaders from the retirement divisions of the most influential broker/dealers gathered for a high-energy exchange that highlighted two forces reshaping the industry’s future: the convergence of wealth and retirement at the workplace and an unprecedented surge in new plan formation. With more than 200,000 new plans projected in the next five years, firms are facing both extraordinary opportunities and mounting pressure to adapt.
Convergence is redefining how broker/dealers view the workplace, with many positioning DC plans as a pathway to replace aging wealth clients and build relationships with younger participants. Advisors are increasingly paired with wealth counterparts—often supported by AI—to extend services and strengthen engagement. At the same time, the “new plan explosion” is driving firms to rethink plan design, streamline operations, and leverage data more effectively. Leaders debated how to balance fiduciary responsibilities with growing demand for participant data, the evolving role of managed accounts and retirement income solutions, and whether technology will accelerate or constrain innovation.
While many challenges remain unresolved, the consensus was clear: the dual forces of convergence and massive plan growth will define the opportunities—and the hurdles—for retirement plan advisors, broker/dealers, and wealth managers in the decade ahead.
Catch more insights in Fred Barstein’s latest WealthManagement.com article, “Convergence, New Plan Explosion Dominate RPA Broker/Dealer Roundtable.”
