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Aaron Schumm, CEO of portfolio company Vestwell, reviews the market opportunity to serve SME 401(k) plans. Job growth has been concentrated with small businesses, and 88% of all 401(k) plans have fewer than 100 participants.
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To truly reinvent retirement for the SMB market, technology must come into play. New entrants are uniquely equipped to develop scalable, customizable services at a relatively low cost because they are not beholden to old processes or infrastructure.
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