Fred Barstein, contributing editor to WealthManagement.com’s RPA Edge, invites retirement industry thought leaders to answer three probing questions on critical issues, providing an open, honest and candid dialogue.
This week, we host Jon Godsall, co-leader North American wealth and asset management practice at McKinsey & Company, asking:
- As record-keeper fees have come under pressure and the industry consolidates, many are looking for new revenue sources, particularly from participant services. Do you see the same with RPAs? What are the keys to success for both groups?
- It seems that wealth services and financial planning are available only to the high-net-worth participants, which is a tiny percentage. What solutions do you see on the horizon for the rest?
- You have unique insights into record-keepers having worked intimately with many. Tell us a little bit about the future for this industry. Any silver bullets or dramatic new entrants or technology coming?
Let me know who else you would like to hear from and I will invite them to get real.