Market Assessment of Recordkeepers’ Innovation and Market Success
Situation
Our client wanted to better understand technology transformation in the retirement industry, specifically what companies have done, what roadblocks they encountered, and what their learnings were.
Objective
The objective was to explore plan sponsors’ views on various recordkeepers’ benefits, drawbacks, innovations, and overall market success.
Our Work
10EQS assessed which recordkeepers are taking more than their fair share of the market, who is losing, and what the critical areas of consideration are when choosing recordkeepers. 10EQS further evaluated key issues that arise with recordkeepers and what innovations are driving plan sponsors to switch recordkeeping providers.
Project Team
- Ex-McKinsey Management Consultant with extensive financial services & technology industry experience
- Consultant supporting content synthesis
- 10EQS Delivery Operations (=PMO) providing quality assurance, process management and expert recruitment
- 12 industry experts
Industry experts (excerpt)
- Director of Retirement – Global Insurance/Retirement Provider (US)
- Former Practice Leader – Independent Wealth Management Firm (US)
- Principle Defined Contribution Consultant – Professional Services Subsidiary (US)
- Vice President: Retirement Services – Financial Services Platform (US)
Results
The insights helped uncover which recordkeepers are leading the market, which are declining, and how various factors such as technology integration, pricing, and quality of service influence plan sponsors’ decision-making regarding recordkeepers.