In our struggling economy, banks haven’t escaped a renewed emphasis on the bottom line. Like other businesses, they’re watching every dollar and asking, what are our core strengths? Why do customers buy from us? Which products and services are critical? Is there anything we do that someone else does better and at lower cost?
When it comes to retirement plan operations – particularly recordkeeping – the answer to the last question often is yes. Firms that specialize in recordkeeping can do the job more efficiently. This simple realization – that partnering with a leading recordkeeper can be beneficial – is often a step toward enhancing a bank’s retirement plan business.
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