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September 4, 2026

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Peter Gulia created a topic in Operating a TPA or Consulting Firm

When an Investment House Ends Plan-Document Services for Micro-Business Retirement Plans, Is There an Opportunity for Third-Party Administrators?

"In April 2024, Vanguard told customers it was ending recordkeeping and plan-document services for retirement plans served by Vanguard's Individual 401(k) and other small-business lines. (Many followed Vanguard's suggestion to transition to Ascensus.) In 2026, Edward Jones and Morgan Stanley each told customers it will no longer provide plan-document services for 'Solo 401(k)' retirement plans. Do you think these service exits set up a business opportunity for a TPA? Or, are many micro-business plan sponsors not a good client for a TPA? What do you look for in evaluating whether you'd accept or decline a one-participant or micro-business plan as your client?"

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