Press Release

SPARK Institute and Korn Ferry Launch Research to Address Leadership Succession in a Changing Retirement Industry

Issued by SPARK Institute

May 27, 2025

Wahington, DC – The SPARK Institute, in partnership with global organizational consulting firm Korn Ferry, has launched a new research initiative to explore the future of leadership across the U.S. retirement industry. The effort comes at a pivotal time, as the industry transitions into an era marked by rapid innovation, demographic shifts, and unknown leadership demands.

Historically, success in the retirement industry was driven first by sales and distribution, then by cost control and operational efficiency. Today, the path forward is less certain. As the industry confronts new challenges—from digital transformation and AI to evolving consumer expectations, leaders and organizations alike are asking:

What skills will define the next generation of leadership? And where will those future leaders come from?

To help answer these questions, Korn Ferry will conduct the study of the necessary skills for future success. The research will include both an executive survey and a series of in-depth interviews with senior leaders in Recordkeeping, Investment Management, and Financial Advisory Services.

Findings will be unveiled at the SPARK Forum in November 2025, with full results shared with member organizations.  

  “The retirement industry is evolving faster than ever,” said Tim Rouse, Executive Director of the SPARK Institute. “We’ve moved from a sales-first model to operational rigor—but we don’t yet know what’s next. Understanding the skills our future leaders will need is the first step toward building the talent pipelines that will secure our industry’s future.”

Joe McCabe, Vice Chairman of Korn Ferry, added, “Succession planning isn’t just about continuity, it’s about transformation. As our industry’s challenges shift, so too must our leadership strategies. We’re proud to partner with SPARK to help the industry better understand how to prepare its next generation of decision-makers.”

The survey will explore:

• Critical leadership attributes across different segments
• Emerging skills such as data analytics, AI integration, and client trust building
• Strategies for leadership development, including mentorship, rotational roles, and cross-border experience
• Views on how succession planning is—or should be—prioritized within firms

The SPARK Institute invites all industry leaders to contribute their perspective and help shape a more resilient, forward-looking retirement system.

For more information or to participate in the survey, please contact: Tim@sparkinstitute.org

About SPARK Institute

The SPARK Institute represents a broad cross-section of retirement plan service providers and investment managers. Through its working groups and public policy initiatives, SPARK advocates for innovation, operational efficiency, and improved outcomes for plan sponsors and participants. www.sparkinstitute.org

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