Wednesday, October 23rd, 2024 A topical newsletter from PLANADVISER Retirement and Wealth Convergence The connection between workplace retirement plan advisement and individual wealth management has been tightening in recent years. These stories consider trends and transactions in retirement and wealth. SPONSORED AD PRACTICE MANAGEMENT AI Can Be Helpful for FAs—but Mostly In-House for Now Speakers at an eMoney financial adviser summit noted that AI is most useful for wealth managers as a practice management tool, ideally freeing up advisers for more human interaction. DEALS & PEOPLE Alera Bolsters West Coast Team with Plan Adviser Sorensen Joshua Sorensen, formerly of Edelman Financial Engines, joins Alera Group as it continues to grow its retirement plan practice. IN PRACTICE Staffing an RIA to Serve Small, Midsize Plans An adviser leverages a strong back office, technology and careful selection of providers to serve an ‘underserved’ plan market. CLIENT SERVICE Savings-to-Wealth Convergence: Don’t Forget Banks 401(k) plan participants aren’t the only target of wealth management convergence; Cerulli points to bank depositors as ripe for convergence. DEALS & PEOPLE Wealth Enhancement Group Acquires FinTrust Capital Advisors The acquisition brings Wealth Enhancement Group’s assets under management to more than $94.7 billion.  COMPLIANCE Government Watchdog Finds IRA Fiduciary Oversight ‘Lacking’ The GAO found numerous conflicts of interest and recommended the IRS work with the DOL to audit IRA fiduciaries. Did someone forward you this newsletter? Sign up here to get PLANADVISER Spotlight directly in your mailbox!

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