I own a small RIA firm in Michigan. The majority of our assets under management are in 401(k) and 401(k)/Cash Balance combo plans. Similar plan provisions, model portfolios, and fund lineups. We also have an accounting/tax division with large overlap of our retirement plan clients. I've explored the MEP/PEP structure a few times over the past few years. Theoretically, it should be a great solution for a book of business like ours, however, I can't seem to make the fees or operations in a MEP/PEP structure materially better than our current set-up. I'm thinking of trying to buy a small TPA and Record Keeper that would mainly serve clients within the RIA. My hope would be that I could reduce price and streamline operations since so many of our plan are similar, and pass these savings along to clients reducing administrative fees. Has anyone ever done anything like this, or know of any small firms that might be a good target for acquisition?
