Wednesday, December 28th, 2022 A biweekly topical newsletter from PLANADVISER M&A and Wealth Management For the fifth consecutive year, retirement advisory firm M&As reached new record highs in 2021, with this trend having no end in sight. Already in 2022, multiple big-ticket mergers and acquisitions have been announced, and many more are expected. Increasingly, the industry is seeing deals bringing together retirement plan-focused advisory shops with traditional wealth managers, creating firms with more expansive skillsets that can meet the evolving demands of clients.  PRACTICE MANAGEMENT When Merging Retirement Planning and Wealth Management, Participants Must ‘Come First’ As retirement planning and wealth management begin to overlap, a dividing line must be drawn between them for both business and compliance reasons, according to a panel of experts in PLANADVISER’s latest practice management webinar. PRACTICE MANAGEMENT Investment Adviser M&A Activity Expected to Mellow in ’23 Expectations for RIA valuations and M&A activity reach lowest levels in five years of annual surveying by DeVoe & Company. PRACTICE MANAGEMENT Recordkeeper Consolidation Leads to Drop in Proprietary Product Share, Opening Door for Asset Managers The consolidation of DC plan providers may not be as much of a threat to asset managers as some have thought, with recordkeeper integration needs and legal risk meaning less focus on proprietary investment options, according to new research from ISS Market Intelligence. DEALS & PEOPLE SageView Acquisitions Add to Financial Wellness-Focused Wealth Manager Push SageView CEO Randy Long discusses the firm’s most recent acquisitions, and what types of advisers it will be focused on in 2023. DEALS & PEOPLE HUB Expands Wealth Management Footprint with Purchase, On Pace for 70 Acquisitions Hub’s recent acquisition of Tulsa-based Bridgecreek puts it over 60 acquisitions this year as it continues to build its footprint across asset management, retirement, insurance and employee benefits. INVESTING Asset Managers Scramble to Offer In-Demand Investment Vehicles Asset managers are replicating existing mutual fund investment strategies in separately managed accounts and collective investment trusts to meet demand from retirement advisers and sponsors, according to new findings from Cerulli. Did someone forward you this newsletter? Sign up here to get PLANADVISER Spotlight directly in your mailbox!

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