As one of the most substantial drivers in the entire retirement industry, insiders have certainly taken notice of the massive growth of target date funds. But where will these relatively new products head in the future, and how will product innovation adapt to a coming decumulation wave of retiring boomers?
At Monday's FRA DCIO Market conference in Boston, insiders offered their vision of the changes they expect to see in the not-so-distant road ahead, especially with more migration from mutual funds.
"Fidelity, Vanguard and T. Rowe Price continue to be the big three in the business, but that's flat, and we're going to see smaller companies growing," said moderator Jeri Savage, director of DC research for Rocaton Investment Advisors, LLC. "More and more, you'll see those companies creating solutions with better and newer asset classes and more options."
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