Skip to main content

You are here


For Commonwealth’s Mahan and Roche, the Future is Now

Opportunities and trends in the DC market differ depending on the level of experience of the advisor. So broker dealers that have the resources have to treat each group differently.

Some are predicting that BDs that only dabble in the DC market will force all advisors into a formulaic model the BD can oversee and control, leaving little room for the expert advisors to differentiate themselves. But for BDs with resources that see the opportunities in retirement with DC plans as the lynchpin, the future looks promising.

Commonwealth Financial’s retirement group is led by industry vet Paul Mahan and Kathleen Roche, who see a number of opportunities for their firm and their advisors, including:

  • Plan optimization through use of the auto plan features

  • Developing emerging plan advisors

  • Partnering elite and core plan advisors with wealth managers

  • Succession planning

  • Leveraging participant data to mine for IRA rollovers

Most firms are fortunate to have reactive resources to help advisors with DC plan opportunities. “We are moving from reactive to proactive retirement resources, just like our wealth management division,” Mahan and Roche note. “We see an opportunity for our consultants to help advisors build their retirement plan business while creating a formal referral program with wealth managers.”

Just as with record keepers, and now with advisors and DCIOs, the separation between BDs that focus on the DC market and those that don’t will become more dramatic. The pending DOL fiduciary rule will only accelerate that separation. So while many see challenges in the DC plan market, those like Commonwealth see opportunities, and are looking to leverage the focus on retirement planning.