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The RPA Edge Podcast: Wise Rhino’s Dick Darian on Opportunities and Threats in DC PlansThe RPA Edge Podcast: Wise Rhino’s Dick Darian on Opportunities and Threats in DC Plans

Wise Rhino CEO Dick Darian discusses the differences between RPAs and wealth management, and why RIAs are starting to use DC plans to find more clients.

Fred Barstein, The Retirement Adviser University,

March 16, 2022

 

While RPAs and wealth managers have long been considered separate practices, retirement planning advisors are turning to wealth management in search of new clients while expanding their own expertise and why RIAs are starting to use DC plans as a way to find more wealth management clients.

In this episode, Fred Barstein, contributing editor for RPA Edge, is joined by Dick Darian, founder and CEO of Wise Rhino Group. They dive into RPAs and wealth management, discussing the differences while considering the opportunities for new business and clients.

Dick and Fred discuss:

  • Why RIAs should care about DC plans – what opportunities exist and more importantly the threats to their business if they ignore them.

  • What RPA aggregators like Captrust are doing to build relationships with participants and capture rollovers more efficiently.

  • The impact of state and potentially federal mandates on DC plans

  • Can wealth advisors survive under a single vertical, or is it better to consider a second vertical in retirement to help grow your business.

Listen to the RPA Edge Podcast

About the Author

Fred Barstein

The Retirement Adviser University,, Founder and CEO

Fred Barstein is founder and CEO of The Retirement Adviser University, a collaboration with UCLA Anderson School of Management Executive Education, The Plan Sponsor University and 401kTV. He had been contributing editor for InvestmentNews where he created RPAConvergence and the RPA Roundtables & Thinktanks for senior managers at DC record keepers, aggregators, broker dealers and CIOs. He helped create the National Association of Plan Advisors as a member of the founding Leadership Board, Chair of the Membership Committee and was founding Editor-in-Chief for NAPA-Net which he led until 2016. Barstein received his Bachelor of Arts Degree from Boston College and his Law Degree from Cardozo School of Law, Yeshiva University.