Small businesses and gig workers are redefining workplace savings. Can RPAs, wealth advisors and providers adapt? Fred Barstein, Founder and CEO, The Retirement Adviser University August 24, 2026 A recent report by Gusto senior economist Nich Tremper analyzing administrative payroll data indicates a a 64% increase from 2019 to 2026 in retirement plans by small businesses defined as organizations with 2-99 employees. Cerulli reports that 92% of defined contribution plans will be in the micro market by 2029, and total plans will surpass one million by 2030. Currently, 42 million people participate in the gig economy, with one in ten relying on it as their primary source of income. While the convergence of wealth and retirement at the workplace and eventually all benefits is reshaping the DC industry, the growth of retirement plans by these smaller businesses, many employing hourly workers, will also be a major factor in redefining how advisors and providers approach retirement plans at work. The numbers are startling. Just 19% of small businesses, which include 40 million organizations according to Gusto, offered a retirement plan in 2019, which increased to 31% in 2026. Though participation rates for hourly workers are now at 38%, up from 22% seven years ago, they lag behind salaried employees at 73%. Tremper claims the growth is not due entirely to government mandates, but those with them saw a dramatic increase in plan growth. Imagine if there is a federal mandate. Who will sell and serve the potential tsunami of small retirement plans? Doubtful that the current group of just over 10,000 retirement plan advisors will be interested, as fees are low and work as well as liability are high. Perhaps some will deploy pooled employer plans, each of which must be sold separately. The cross-selling results by RPA firms owned by benefit brokers whose clients are generally smaller have been mixed. More of the 275,000 wealth advisors are interested in DC plans, mainly to gain new financial planning and wealth clients and to leverage relationships with existing clients, as are some broker-dealers eager to get their reps interested in the 401(k) market. But fees and profit margins are higher for wealth services, and with the aging of financial advisors, with over 35% expected to retire over the next 10 years, many are not interested in learning and developing a new line of business. Larger asset managers have outsized wealth-wholesaling forces, but none have figured out how to incentivize them to include DC plans in their pitches to wealth advisors. Because of data issues, it is hard to pay them, while some firms have decided not to - these wholesalers carry many services and products, so fitting in DC plans can be a challenge Doubtful that benefit or P&C brokers, insurance reps at independent marketing organizations or CPAs will have a meaningful impact on this market for various reasons. So far, payroll providers like ADP, Paychex and Gusto, which mostly cross-sell and fintechs like Vestwell, Human Interest, Betterment and 401Go, many of which partner with payroll companies, have benefited from the surge in new plans by smaller businesses. While Human Interest is reported to be significantly increasing its sales force, the fintechs rely on third parties that already have relationships with small businesses for distribution. Ted Benna claims the current 401(k) structure is too complicated, touting a much different approach while record keeping technology has hindered efficiencies though FIS has recently launched cloud-based versions of Relius and Omni to address these issues incorporating over 100 third party applications. Current big-name record keepers still struggle to profitably sell and service start-up and small plans Maslov said that when the only tool you have is a hammer, the whole world looks like a nail. It's clear that more small businesses are and will be offering retirement plans, while gig workers will be interested through firms like Uber and DoorDash. There is a huge opportunity, but as currently constructed, most advisors, providers and asset managers are not properly aligned. Those that can leverage current client relationships and the workplace to offer financial planning and employee benefits, and uncover hidden wealth with retirement plans as the Trojan horse, will thrive. But changing business models that are successful for incumbents is hard, as Harvard professor Clayton Christensen explained in his seminal book, The Innovator's Dilemma. Founder and CEO, The Retirement Adviser University 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.

N-able and FIS partner to accelerate Treasury and Capital Markets transformation for Sri Lanka's financial institutions. 21 August 2026 N-able, together with its strategic partner FIS(R), recently announced a partnership to deliver world-class treasury and capital markets solutions to financial institutions across Sri Lanka, combining FIS' market-leading financial technology platforms with N-able's expertise in enterprise technology, implementation, consulting, and local customer support. The partnership aims to support financial institutions as they navigate increasing regulatory requirements, evolving customer expectations, and growing market complexity. By leveraging advanced treasury and capital markets technologies, banks can modernise treasury operations, strengthen risk management, improve liquidity management, and enhance foreign exchange services. As part of the collaboration, N-able will deliver FIS Capital Markets solutions including FIS Treasury and Risk Manager - Quantum, Global FX Portal (GFX), and FIS Balance Sheet Manager (BSM). These solutions enable financial institutions to automate treasury workflows, gain greater visibility into liquidity and risk exposures, streamline operations, and deliver enhanced digital foreign exchange capabilities to corporate clients. A key focus of the partnership is helping financial institutions make more informed and timely decisions. With real-time insights into financial positions, liquidity, and risk, treasury teams can strengthen governance, improve operational efficiency, and respond more effectively to changing market conditions. The solutions also provide the scalability and flexibility required to support the evolving needs of modern financial institutions. The collaboration brings together FIS' global expertise in treasury and capital markets technology with N-able's local market knowledge, implementation capabilities, consulting expertise, and customer support. This combination enables Sri Lankan financial institutions to access proven financial technology while benefiting from local expertise throughout their transformation journey. The partnership reinforces both organisations' commitment to supporting the continued evolution of Sri Lanka's financial services sector through innovative and scalable technology solutions. By combining FIS' industry-leading platforms with N-able's delivery and support capabilities, the collaboration will help financial institutions achieve greater operational agility, strengthen resilience, manage risk more effectively, and drive sustainable long-term growth. Through their strategic partnership, N-able and FIS remain committed to empowering Sri Lankan financial institutions with advanced treasury and capital markets solutions that modernise operations, enhance efficiency, and support the future of financial services.

FIS named World's Best Treasury Management Software by Global Finance. * Treasury * 13.08.2026 07:25 am As corporations expand internationally and scale global supply chains faster than their treasury teams can keep up, demand is rising for software that can handle currency exposure, multi-entity governance, and real-time liquidity across borders. Meeting those demands is what earned global financial technology leader FIS(R) recognition as the World's Best Treasury Management Software by Global Finance in the publication's 2026 World's Best Treasury & Cash Management Systems and Services Awards. Phil Beck, Portfolio Leader, Treasury at FIS said: "Corporate treasurers are being asked to manage more currencies, more entities, and more strategic decisions than ever before, often with the same team size they had five years ago. Being named Global Finance's Best Treasury Management Software validates our strategy of embedding AI and LLM's directly into the workflows where our clients spend their time meeting the needs of treasurers at every level of scale and complexity. This is where treasury technology has to go if it's going to keep pace with rapidly changing business needs." Global Finance selected honorees through a multi-tiered assessment combining provider submissions with input from industry analysts, corporate executives, and technology experts. Evaluation criteria included profitability, market share and reach, customer service, competitive pricing, product innovation, and the extent to which providers have differentiated themselves around core services. These awards highlight FIS' commitment to unlocking leading-edge solutions for businesses navigating today's increasingly complex money lifecycle. FIS Treasury and Risk Manager delivers real-time visibility and control across cash, liquidity and risk, through a scalable, secure platform. FIS empowers treasury departments with the latest in cloud-native technology to manage simple and complex treasury management requirements. FIS Neural Treasury, an AI suite that includes TreasuryGPT, enhances FIS solutions with AI-powered cash forecasting, AI-driven fraud detection, and robotic process automation for a range of operational activities. Treasurers can improve decision-making, forecast liquidity with greater accuracy, and surface anomalous payment activity earlier with these new and innovative capabilities. The Global Finance recognition follows FIS's ranking as the highest-rated provider for customer satisfaction in treasury management in IDC's SaaS CSAT Awards, and adds to a run of external recognition for FIS across the office of the CFO, including recent awards for its enterprise treasury and risk platforms.