recordkeeper

Amid compression in recordkeeper industry, one start-up is banking on its technology to buck the trend

Consolidation of recordkeeper service providers to the defined contribution market may not yet be as torrid as some early predictions, but it’s happening.

The trend is expected to continue among the largest national recordkeepers—a list numbering about 40—and among the scores more of regional providers.

“From a pure recordkeeping standpoint, there is excess capacity,” Alexander D’Amico, a partner in McKinsey’s financial services practice, told BenefitsPRO earlier this year.

 

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