Potential Pru Retirement sale a cautionary tale of a 401(k) innovator
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It is no wonder, but certainly disappointing, that one of the industry’s most innovative providers, Prudential Retirement, is reportedly exploring a sale. That highlights how much record keeping has become a commodity focused on scale and costs.
At an industry event a few years ago, a $600 million plan sponsor said that anyone approaching him or his committee with radical innovations would immediately be escorted to the exit.
As investment professionals, we are trained to weigh the risk against the benefit. There’s little benefit for p
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