Challenges ranging from regulatorychanges to potential competition from non-traditional players andmore will force recordkeepers to reshape strategic thinking,McKinsey’s report finds. (Photo: Shutterstock)
The “razor-thin” margins that recordkeepers of employer-sponsored retirementplans already operate under will narrow in the foreseeablefuture, forcing incumbent providers to rethink their operatingmodels and cultures if they are to compete, according to newanalysis from McKinsey & Company.
The good news for recordkeepers looking to grow is that the $26trillion retirement market–the defined contributionmarket accounts for $8 trillion–will continue to grow, even as babyboomers 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.
