Advisors who work with retirement plans will see double-digit growth in the next three years. According to a new study by Diversified, a large retirement plan provider, mandated fee disclosures and health care reform will fuel the growth for these individuals as practices transition from regional to national and merger and acquisition activity increases.
According to the report, the market share of professional retirement plan advisors in the $10 million to $500 million market will grow to 40 percent from 25 percent and the number of plan advisors will increase by nearly 50 percent during the next three years.
To support this growth, firms will need to focus on recruiting and developing talent, as the pool of qualified candidates may not be large enough to meet demand.
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