About 80 percent of registered investment advisors see an opportunity for growth in the $5 trillion defined contribution plan market, far fewer pursue the business, a TD Ameritrade survey found.
Shifting rules on fee transparency and the push for the Labor Department to develop a fiduciary standard give RIAs an opportunity in the retirement plan market, TD Ameritrade said in citing research by Cerulli Associates.
But advisors said they need a better understanding of the rules governing defined contribution plans as well as guidance to be able to administer 401(k) and other retirement plans sponsored by employers.
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