NAPA Net - Polling Places 040921

What's The Consideration(s) Around Consolidation?

Seems like as long as there has been a recordkeeping “business”, recordkeepers have been “consolidating” – this week we’d like to know what you think of the current trend/wave.

Sure enough, we do seem to be in another one of “those periods” – and whether or not transitions ensue, it’s likely to at least stir a wave of reconsiderations, RFIs and/or RFPs. That said, while the number surely seems to be shrinking, and some of the classic players have disappeared (or been rebranded), when all is said and done, it always seems that there remain plenty of options.

This week, we’d like to know what you thing about the trends, and the realities of provider consolidation.

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* 1. Have any of the recordkeepers you work with undergone consolidation during the past two years?

Yes, as the consolidatee.

No.

Not yet.

Yes, but as the consolidator.

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* 2. If any of the recordkeeper(s) you work with have been acquired, what happened?

Clients converted without incident.

Clients converted - but it was rough.

Clients considered alternatives, but converted.

Some clients converted, others looked for/found a new provider.

Clients moved to another provider.

Care to expand on that?

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* 3. Following consolidation, generally speaking what happened to service levels?

Much better service.

Better service.

Comparable service.

Deteriorated services levels.

OMG, so bad.

Something else? Care to expand on that?

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* 4. Following consolidation, generally speaking what happened to fees?

Fees lower.

Fees about the same.

Fees higher.

Fees about the same in total, but different.

Care to expand on that?

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* 5. Ultimately, what's your opinion about recordkeeper consolidation (check as many as you like)?

It's inevitable.

Survival of the fittest.

A necessary evil.

it's all good.

It's...complicated.

it's real pain in the a*s

Something(s) else? Care to expand?

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* 6. Got a story (good, bad, or nightmare?) that you'd like to share? Anonymously, of course...

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* 7. OK, last question; how're you doing (check all that apply today)?

I'm good.

I'm great.

I'm hanging in there.

There are good days & not-so-good days.

What day IS it, anyway?

I'm as good as can be expected.

want to expand on that?

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* 8. Other comments about consolidation, the need for consolidation, the pain of consolidation, the opportunities in consolidation, the disruption in routine and service from consolidation, the lack of disruption in routine and service from consolidation, the variety of results from consolidation, the ineviatability of consolidation, or life in general?

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* 9. What is your role working with retirement plans?

Advisor

Provider

TPA

Plan sponsor

Recordkeeper

Wholesaler

Consultant

Other (please specify)

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* 10. What size plans do you PRIMARILY work with?

Under $10 million in assets

$10-$20 million

$20-$50 million

$50-100 million

$100 million - $250 million

$250 million - $500 million

Above $500 million

Other (please specify)

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* 11. Suggestions for future survey questions? Seriously - what would you like to know about/from your fellow NAPA-Net readers? Or what would you like to be asked?

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* 12. All responses are confidential, of course - but just in case you would like a response - or want me to know you responded - or just want to say hi - here's your chance to do so (don't forget your email)!