The lines between retirement plan consulting and wealth management continue to blur, creating new opportunities for advisors who can serve both employers and individual participants. Industry experts note that retirement plan aggregators are acquiring wealth firms, recordkeepers are expanding ancillary services, and advisory practices are looking for ways to generate more value from existing client relationships.
Still, retirement plan advisors and wealth advisors serve different markets and require different approaches. Most plan participants may not fit the traditional high-net-worth wealth model, which means firms need scalable ways to deliver financial guidance while identifying participants who may need deeper advice. For advisors, the opportunity is not simply to become something different, but to build a more integrated practice that connects workplace retirement benefits with broader financial needs.
Read more about this story and the week’s other top retirement industry headlines in 401(k) Real Talk with Fred Barstein.
