Vanguard’s 401(k) recordkeeper, Ascensus, gets set to roll up a world of third party administrators to create a small plan superpower

“They sweep up the assets and create efficiencies of scale,” Schumm says. “[Small-to-midsized] TPAs don’t have the technology to scale, and Ascensus comes in and buys their book of business and people get a payday.” Read the full article here.