The Retirement Advantage, Inc. (TRA), a national third-party administrator (TPA) announced the acquisition of two retirement plan consulting and administration firms: Benefit Strategies, Inc. of Roanoke, Virginia (BSI) and Scholz & Friends Enlightened Retirement Group, Inc. (S&F) of San Antonio, Texas.
With Ascensus buying so many TPAs and PCS buying Aspire, any large TPA is going to try to become bigger tom compete. We will see further and further consolidation in this business because of the heavy competition that has increased in the retirement plan business, thanks to technology, but most importantly, thanks to fee disclosure.
