An interest in consolidating wealth management and institutional businesses drove many advisory industry M&A deals in the second quarter.
Investors compare the service they receive from wealth management firms to the type of service they get from consumer goods and technology behemoths.
Advisers are used to addressing their clients’ behavioral biases when it comes to market risks and returns, but a new white paper suggests they need to do more to understand and overcome their own mistakes.
Even though African Americans make up about 13% of the United States population, the U.S. Bureau of Labor Statistics reports this group accounts for only about 7.6% of financial services professionals.
However, fewer RIAs and fee-based advisers expect consolidation to increase in the next 12 months, compared to five years ago.
Principal’s retirement business president offers additional details about the firm’s acquisition of Wells Fargo’s retirement business, while outside analysts reflect on the broader industry implications of two major providers coming together.
Technology, investment management, and legal and compliance are the top three areas where advisory practices often turn to outside experts, according to Fidelity.
This list includes advisers who reach the top of their respective peer groups in terms of assets under advisement or number of retirement plan clients, including defined contribution, defined benefit and nonqualified plans.
One key M&A trend identified in a new PwC report is the growing prevalence of large asset management and/or private equity entities making minority-stake investments in wealth management firms.
Cerulli also sees opportunities for advisers in the 403(b), defined benefit (DB), and financial wellness markets.
Advisers and providers in the defined contribution plan arena want to take a bite out of banks’ dominance in the health savings account marketplace, and they are building solutions to make it happen.