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The Rise of the Robo-Advisers

By Patty Kujawa

In the defined contribution world, being a bigger record-keeping provider is the only way to survive today. Why? Plan sponsors are demanding more from these suppliers than ever before and want it at very little cost.

As a result, larger providers are gaining ground, and smaller ones are disappearing.

“It’s really hard to stay in the record-keeping business without lots of scale,” said Robyn Credico, defined contribution practice leader at consulting firm Towers Watson & Co. “I can count on one hand how many providers service” the large plan market today.

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This article originally published October 22nd, 2015 on Workforce