RPAs Face Growing Competition From Wealth Advisors Over 401(k) Participants

Barnstein, Fred (2026, March 2). RPAs Face Growing Competition From Wealth Advisors Over 401(k) Participants. WealthManagement.com. https://www.wealthmanagement.com/rpa-news/rpas-face-growing-competition-from-wealth-advisors-over-401-k-participants

(RPA = Retirement Plan Advisor)

• Wealth management firms are aggressively expanding into the retirement space to capture individual participant assets and rollover opportunities.

• Increased private equity backing is driving consolidation and pressuring firms to seek growth through integrated wealth and retirement services.

• Retirement plan advisors are facing new challenges as traditional wealth managers target employees who were previously overlooked by the institutional side.

• The integration of technology and managed accounts allows wealth firms to provide personalized advice to a broader range of 401(k) participants.

• Firms are increasingly viewing the employer-sponsored plan as a primary channel for acquiring high-net-worth clients at the individual level.

• Traditional retirement plan advisors must adapt by offering holistic wealth management services to remain competitive against larger, multi-service firms.

• The shifting industry landscape is forcing a convergence between institutional retirement consulting and individual financial planning.

Knote: With more people turning 65 this year than in human history, 401-k rollovers and advisory is the major battleground for organic growth and advisors need to sharpen their proposals, get in there, and win. The Great Wealth Transfer is happening over the next 30 years. The Great Liquidation is happening now.