PLANADVISER - July/August 2017 - 28

2017 PLANADVISER Recordkeeper Services Guide
THOROUGH
R
A
Recordkeepers' consistent evolution
ecordkeeping has always been a
challenging business, as exemplified
by the shrinking number of
providers in the annual PLANSPONSOR
Recordkeeping Survey and accompanying
PLANADVISER Recordkeeping
Services Guide. Brian O'Keefe, director
of research and surveys at Strategic
Insight, parent of PLANADVISER, says,
" Recordkeeping is often described as
a commodity, and that might be true
for the administration of participant
accounts, but the 55 providers that
responded to this year's survey showcase
a wide range of investment, technology
and servicing options. "
The reason for the enhanced offerings
may be because advisers now
ask more of their recordkeepers, says
Robert Kieckhefer, managing partner
of The Kieckhefer Group in Brookfield,
Wisconsin. For example, his practice
is expanding and enhancing the
financial wellness tools on its website,
he says. " Some providers are keeping
up, and some are not. We are shifting
[business] to the providers that are
keeping up. "
Still, change can be slow for this
industry, which is responsible for more
than $6 trillion in retirement savings.
For example, in the past four years, only
a handful of recordkeepers have introduced
participant-focused mobile apps.
As the industry searches for new
ways to solve old problems, recordkeepers
are at the forefront. Tim
Rouse, executive director of The SPARK
Institute in Simsbury, Connecticut,
sees a continued push for automatic
plan features-such as those already
widely available, including " auto " enrollment
and auto-escalation-and
those that will require development,
such as auto-portability.
By recordkeepers coordinating with
each other, auto-portability would
allow account
balances
to
follow
participants from one job to the next.
According to the Employee Benefits
Research Institute (EBRI), in a perfect
world of portability, $2 trillion of
leakage would be kept in the retirement
system with this feature in place.
Brian Grafff, CEO at the American
Retirement Association,
in Arlington,
Virginia, believes the push to develop
more automatic solutions will only
increase. " Much like the driverless car,
the recordkeeping industry is moving
toward the driverless 401(k). I think
'auto' everything is a trend that will
continue to develop throughout the
industry, making it easier for both plan
sponsors and participants to achieve
their goals. "
Besides helping people accumulate
savings, recordkeepers now need to
work with Baby Boomer participants
who are planning how best to manage
those savings. While plan sponsors
wait for the Department of Labor
28 | planadviser.com july-august 2017 Art by Josh Cochran
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PLANADVISER - July/August 2017

Table of Contents for the Digital Edition of PLANADVISER - July/August 2017

Reconsidering the Status Quo
2017 PLANADVISER Recordkeeper Services Guide
Reviewing Providers
Bringing It All Together
Default Thinking
The Best Path Forward
PLANADVISER - July/August 2017 - C1
PLANADVISER - July/August 2017 - FC1
PLANADVISER - July/August 2017 - FC2
PLANADVISER - July/August 2017 - C2
PLANADVISER - July/August 2017 - 1
PLANADVISER - July/August 2017 - 2
PLANADVISER - July/August 2017 - 3
PLANADVISER - July/August 2017 - 4
PLANADVISER - July/August 2017 - 5
PLANADVISER - July/August 2017 - 6
PLANADVISER - July/August 2017 - 7
PLANADVISER - July/August 2017 - 8
PLANADVISER - July/August 2017 - 9
PLANADVISER - July/August 2017 - 10
PLANADVISER - July/August 2017 - 11
PLANADVISER - July/August 2017 - 12
PLANADVISER - July/August 2017 - 13
PLANADVISER - July/August 2017 - 14
PLANADVISER - July/August 2017 - 15
PLANADVISER - July/August 2017 - 16
PLANADVISER - July/August 2017 - 17
PLANADVISER - July/August 2017 - 18
PLANADVISER - July/August 2017 - 19
PLANADVISER - July/August 2017 - 20
PLANADVISER - July/August 2017 - 21
PLANADVISER - July/August 2017 - 22
PLANADVISER - July/August 2017 - 23
PLANADVISER - July/August 2017 - Reconsidering the Status Quo
PLANADVISER - July/August 2017 - 25
PLANADVISER - July/August 2017 - 26
PLANADVISER - July/August 2017 - 27
PLANADVISER - July/August 2017 - 2017 PLANADVISER Recordkeeper Services Guide
PLANADVISER - July/August 2017 - 29
PLANADVISER - July/August 2017 - 30
PLANADVISER - July/August 2017 - 31
PLANADVISER - July/August 2017 - 32
PLANADVISER - July/August 2017 - 33
PLANADVISER - July/August 2017 - 34
PLANADVISER - July/August 2017 - 35
PLANADVISER - July/August 2017 - 36
PLANADVISER - July/August 2017 - 37
PLANADVISER - July/August 2017 - Reviewing Providers
PLANADVISER - July/August 2017 - 39
PLANADVISER - July/August 2017 - 40
PLANADVISER - July/August 2017 - 41
PLANADVISER - July/August 2017 - Bringing It All Together
PLANADVISER - July/August 2017 - 43
PLANADVISER - July/August 2017 - Default Thinking
PLANADVISER - July/August 2017 - 45
PLANADVISER - July/August 2017 - 46
PLANADVISER - July/August 2017 - 47
PLANADVISER - July/August 2017 - The Best Path Forward
PLANADVISER - July/August 2017 - 49
PLANADVISER - July/August 2017 - 50
PLANADVISER - July/August 2017 - 51
PLANADVISER - July/August 2017 - 52
PLANADVISER - July/August 2017 - C3
PLANADVISER - July/August 2017 - C4
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