The DC Record Keeper Consolidation List details significant deals in the defined contribution market since 1999. It is provided in three parts:
• 1999-2002 (see below);
• 2003-2005 (click here); and
• 2006-September 2012 (click here).
To download a pdf file of the comprehensive 1999-2012 list, click here.
There is no doubt that the DC record keeping industry is bloated, with 46 national firms in 2012, only 19 of which are in “401k Heaven” as measured by assets and participants under management. (See National 401(k) Record Keeper list.) Interestingly, record keepers which manage funds that they could put on their platform used to be valued higher than were pure record keepers, but today, the firms which have great technology, are able to keep costs low and are not addicted to the fees generated by proprietary assets seem to be in favor. Wall Street and private equity firms are devaluing active money managers, which supports the trend in the DC market.
Copyright 2012, The Retirement Advisor University. Used with permission.
