Pershing plans to rollout a ‘Retirement Plan Network’ in the first quarter of 2015 to help broker-dealers and investment advisors grow their retirement plan business.
The new platform will allow advisors to connect to independent record keepers, hold assets in custody, and to leverage an integrated suite of investment products, retirement plan tools and practice management solutions.
“The defined contribution system, however, continues to be the primary retirement savings vehicle for Americans and advisors are playing an increasingly important role in driving better retirement outcomes,” says Rob Cirrotti, head of retirement solutions, Pershing. “Pershing’s Retirement Plan Network is a natural extension of the solutions we offer to address the needs of the retirement market.”
Defined contribution (DC) assets in the retirement plan market are expected to increase 5-6% per year through 2019. As of the third quarter of 2014, Americans held $6.6 trillion in DC retirement plans.
“The growth of DC plans and IRAs make the retirement market an attractive space for advisors and presents them with an opportunity to help meet plan sponsors’ need for better guidance in preparing their plan participants for retirement,” adds Cirrotti.
Pershing To Launch Retirement Plan Network
Pershing plans to rollout a ‘Retirement Plan Network’ in the first quarter of 2015 to help broker-dealers and investment advisors grow their retirement plan business.