Thinking about moving up-market? This article outlines five strategies TPA firms can use to help evolve their brand, deepen expertise, and position themselves as strategic partners for mid- to large-sized clients.
In the competitive and ever-changing retirement services landscape, TPA firms often find themselves at a crossroads: stay focused on small plans or grow into a more strategic partner for mid- to large-sized employers. If you’re thinking about making that move, know that it’s not just about pursuing bigger plans. It’s generally about evolving your value, sharpening your positioning, and showing up in a way that resonates with an audience that typically has more complex needs.
This shift takes intentional work, but it can be doable. Here are five key areas of focus to help you move up-market and get noticed by clients and business influencers.
Before you start prospecting to larger plans, first evaluate if your current brand speaks to up-market needs. Up-market clients face many of the same challenges as small plans, but typically with added complexity. They expect firms who can handle scale, plan compliance and fiduciary oversight, and provide strategic thinking.
Be intentional in how you present your firm: Move away from messaging that centers on being affordable or easy to work with. Instead, highlight expertise in fiduciary support, plan design, optimization, participant outcomes, and service excellence. Larger plan sponsors are typically looking for value, not just cost savings.
Use real data—case studies, benchmarks—to show that your firm can deliver results. Facts and past performance metrics can quickly help build credibility.
Elevate your digital presence: Your website, pitch decks, and LinkedIn presence should reflect the sophistication and credibility expected in the mid- and large- plan space. Treat these channels like your digital business card. They often form the first impression before you ever speak to a prospective client.
Larger plans can bring greater scrutiny, more decision-makers, and have more at stake. To earn their trust, you’ll want to go beyond the basics.
Know compliance specifics for larger plans: Dive deeper into fiduciary roles 3(21) and 3(38), understand plan fiduciary risk mitigation, and complex plan design strategies that can be used by up-market plans.
Master vendor oversight: Up-market plans typically expect their TPA to provide benchmark analysis and guidance on recordkeeper selection and other key strategic partners. Be equipped to help them make informed, strategic decisions on partners that can most likely achieve their goals.
Larger plans rarely make changes based on relationships alone. It’s important that a new service can help meet their needs with such things as fiduciary responsibility and risk, technology, participant servicing, investments and legal, just to name a few.
Build strategic partnerships: Find strategic partners that complement your strengths: aggregators, ERISA attorneys, payroll providers, CPAs, and other key influencers. These relationships not only help round out your offerings but also provide valuable referrals.
Showcase your team approach: Make it clear that you’re not a solo consultant. Larger sponsors typically want to see structure, continuity, and expertise across your team. Highlight how your internal team and external strategic partners work together to not only provide great service but seek to help plans achieve and exceed their goals.
Breaking into the up-market landscape can mean using different marketing strategies from those used for startups and small businesses.
Get in front of decision-makers: Attend and speak at industry events like ASPPA, NAPA, PSCA, and NIPA. Use LinkedIn, newsletters, or other digital methods to publish thought leadership tailored to HR, finance, and benefits leaders. Create and share content that helps them navigate their challenges and positions you as a valuable resource.
Leverage your network: Tap into centers of influence—attorneys, financial professionals, CPAs—who already have the relationships you’re seeking. Ask for warm introductions but always come prepared with a fresh insight or idea that adds value to the conversation.
Mid-and large-market plans expect more than a friendly conversation and a quick quote. They want an experience that’s consultative—one that helps them understand how you’re different and illustrates how you can help them.
Lead with value: Open the door to potential new business with something meaningful—offer complimentary plan reviews or fee benchmarking. Use such resources and tools to build trust and help prove your expertise before getting into the sales conversation.
Position yourself as a strategic partner, not a vendor: Discuss how your services support their bigger business goals, whether that’s employee retention, operational efficiency, or reducing fiduciary risk. Show that you’re thinking beyond just the plan, but about the people and the outcomes behind it.
Moving up-market is less about size and more about your firm’s evolution. It takes time, intention, and a willingness to rethink how you serve clients and present yourself in the marketplace. It means taking a step back to assess where your firm can add the most value, what kind of clients you want to serve, and how you’ll need to grow to get there.
For more information, contact your TPA distribution director (PDF) or local Principal representative today.