Raghav Nandagopal Discusses Recordkeeping and TPA Consolidation
In a recent Citywire RIA article, Raghav Nandagopal discusses consolidation in the recordkeeping and TPA space and how scale creates competitive advantages necessary to compete in the modern retirement market.
Nandagopal states that "at the end of the day, scale wins. Scale drives efficiencies and scale drives operating margins. Secondly, the market itself values technology and other digital capabilities. If you have the size and scale, you can make significant investments into that."
As more small recordkeepers and TPAs become part of larger companies like Ascensus, Nandagopal notes that advisors "now have the ability to work with a smaller target of partners, but those partners are in it for the long run in terms of growing the business, investing in technology, investing in digital, investing in marketing, et cetera."