Outsourcing recordkeeping to stay competitive. Six questions to ask before taking the plunge.
Technological innovation, changing end-client expectations, increasing regulatory pressure. These are only some of the factors that continue to force retirement plan providers to rethink their legacy operations.
As the status-quo becomes less sustainable, firms tend to face three options:
• Digital transformation: overhaul the whole system at great cost.
• Merge or sell: join forces with a firm who’s already invested in overhauling.
• Outsource: partner with a provider who handles the bulk of digital operations.
This short whitepaper explores the outsourcing option, along with six key questions that can guide your choice.