Dangers advisers may face due to record-keeper consolidation
The larger providers produced by consolidation will cater to larger RPA groups like aggregators and major broker-dealers at the expense of smaller, independent RPAs.
Editor's note: This column was updated on Oct. 25 to clarify the lobbying that a group alluded to in the text, the American Retirement Association, does on behalf of financial advisers.
The 401(k) record-keeper industry is following the path outlined in the brilliant 2002 Harvard Business Review
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