New York, June 13 (Reuters) – The big retirement benefit
consultants are facing increasing competition as financial
advisers move in on their turf, according to Chip Castille, the
head of BlackRock’s U.S. retirement group.
For workers with 401(k) accounts the shift could translate
into better investment choices, while for firms like Mercer and
Aon Hewitt that have been big players in the $21 billion U.S.
retirement business it’s a threat to their business.