Neil Smith Discusses Consolidation of TPA Practices

EVP Neil Smith provided insight on consolidation trends in the ​TPA market in a recent article published by Employee Benefit News. “A lot of the growth of TPA work came out of the post-[Employee Retirement Income Security Act] time period of the early ‘70s. A lot of them are approaching retirement or looking for ways to facilitate retirement,” he states. This creates the opportunity for larger retirement services firms and TPA businesses to acquire these smaller practices, offering clients more customization and scale.