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Fidelity Investments recognizes power of RIAs in 401(k) market and has increased efforts to work with advisors

With plan sponsors demanding advice, the Boston-based king of DC retirement plans decides to go with the fiduciary flow -- and some experts see it as a blink while others call it a Fidelity bonanza

Author Lisa Shidler June 5, 2013 at 5:18 AM
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Ted Madden: We saw this great opportunity to integrate this business and really capture the full power of Fidelity and focus on growing the business with advisors.

401(k) Stories

Stephen Winks

Stephen Winks

June 5, 2013 — 8:15 PM

RIAs like CapTrust at $80 billion with extremely high expertise targeting very specific market segments like 401(k)and HNW are easily winning massive market share at an accelerating rate.They will breal $100 billion this year.

Very few sole practitioner brokers with no scale who are selling a packaged solution that minimizes value added and client service at the sponsor and participant level can compete based on cost, service, value and margins at the advisor level.

We are beginning to see this sort of market segmentation unfold in the Foundation and Endowment space as well as the small DB plan, Public Fund, Profit Sharing and Taft Hartley spaces. All are built around highly structured processes, work flow management, advanced technology and expert standing.

Not only does process trump product, but technology trumps product in ways that materially enhanse counsel while driving down cost.It is what you do with products, or process, that adds value not product in and of itself.

Fidelity is wise to empower advisors in the 401(k) space as advisors control the space and are the value proposition. Innovation advanced by advisors in the consumer’s best interest wins the day.




June 26, 2014 — 12:18 AM

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Top Executive: Kurt Cerulli

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