Five years ago, Vanguard’s record-keeping business began targeting small plans with the launch of Vanguard Retirement Plan Access, a unit established to provide specific services and platforms for start-up plans and established 401(k)s with up to $20 million in assets.
Since then, growth in the VRPA unit has been explosive.
In 2012, the unit serviced 445 plans and 16,446 total individual accounts. The average plan account value was $1.9 million, putting total assets in the $846 million range.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
