Besides observing recordkeeper integrationchallenges, a subtle but consequential shift seen byglobal consultancy McKinsey is a movementtoward leaders with a tech background. (Photo:Shutterstock)
The Principal Financial Group's acquisition of Wells Fargo's 401(k) recordkeeping unit for $1.2 billioncould result in expansive growth of the former's footprint amonglarger retirement plans.
According to PlanSponsor's 2017 recordkeeping survey, DesMoines-based Principal administered about 52,600 plans in 2016.Nearly 90 percent of those plans, or about 47,200, had less than $5million in assets.
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