Heightened interest in managed accounts is not incidental to a daunting reality service providers are facing: More money has been leaving workplace retirement plans than is coming in, a phenomenon that is expected to continue as wealthier baby boomers retire. (Photo: Shutterstock)
In a recent week of meetings with 401(k) plan advisors and recordkeepers, Greg Porteous came upon something he previously hadn't seen in more than 25 years working in the defined contribution investment space.
“Managed accounts came up in every conversation I had,” said Porteous, managing director and head of defined contribution intermediary strategy at State Street Global Advisors.
According to Porteous, the heightened interest in managed accounts that he observed in advisors, recordkeepers, and other intermediaries is not incidental to a daunting reality service providers are facing: More money has been leaving workplace retirement plans than is coming in, a phenomenon that is expected to continue as wealthier baby boomers retire.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
