Each year, we review each clients' recordkeeper costs, benchmarking them against our peer ranges. In 2018, we continued to see prices decline and participants benefiting from the compression. While some of the compression can be attributed to recordkeeper consolidation and scale, why would billion-dollar financial services organizations continue to invest in recordkeeping capabilities where profits have traditionally been so thin? The answer is: they believe there is an opportunity to generate additional revenue beyond the recordkeeping fees for servicing retirement plans.
During this webinar, we discuss the five areas where we feel recordkeeping vendors have tried to monetize their relationship with retirement plans: Proprietary investment management, Managed accounts, IRA rollovers, Cross-selling retail financial products, and Annuitization.
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Multnomah Group provides fee-only retirement plan and investment consulting services to for-profit and tax-exempt employers in the United States. Our firm’s core competencies include investment consulting, vendor and plan management, and fiduciary governance.