More than 800 small businesses in the United Kingdom that now offer a retirement plan in the wake of a government mandate say that the administration of their plan is “routine” or “easy,” according to a survey conducted by Smart, a Nashville, Tennessee-based technology firm and record keeper.
Based on the survey of UK users of its Smart Pension Master Trust platform, the company found that 94% of businesses with 10 or fewer employees spent an hour or less administering the plan each month. Only 8% reported that plan administration was a “significant additional burden.”
Following legislation in the UK requiring large and small employers to offer a retirement plan, private sector retirement plan participation rose from 42% in 2012 to 86% in 2019, the company said. “The increase in participation was very consistent across all participant groups, including those that are typically the least engaged, such as the young, part-time workers, low earners and those working for micro-employers.”
In a special report it prepared for U.S. policymakers considering auto-IRA legislation, the company said that requiring employers to maintain a retirement plan “can lead to a substantial leap in overall plan participation and retirement coverage for Americans” while not imposing a significant administrative burden.
From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.
Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
