While RPAs and wealth managers have long been regarded as separate practices, retirement planning advisors are increasingly turning to wealth management in search of new clients while expanding their expertise and why RIAs are providing more wealth management clients. Starting to use DC plans to find.
In this episode, Fred Barstein, contributing editor of RPA Edge, is joined by Dick Derian, founder and CEO of Wise Rhino Group. They dive into RPA and wealth management, discussing differences while considering opportunities for new business and clients.
Dick and Fred discuss:
- Why RIAs should care about DC plans – what opportunities exist and more importantly, the threat to their business if they ignore them.
- What RPA aggregators like Captrust are doing to build relationships with participants and achieve rollovers more efficiently.
- The impact of state and potential federal mandates on DC plans
- Can Wealth Advisors survive under a single vertical, or is it better to consider another vertical in retirement to help grow your business.