Advisory M&A News – 2/5/24
Mariner Wealth Adds $104B in Institutional AUA; Heffernan makes Florida acquisition; OneDigital adds WealthSource with advisers in 9 states; and...
Tag: RIAs
Lincoln to Shed Wealth Division With Sale to Osaic
Lincoln has agreed to sell its $108 billion wealth management business to focus on workplace and insurance services and products.
KeyBank Advisory Division Launches PEP
Institutional Advisory debuts 401(k) pooled employer plan, with Transamerica Corp. the recordkeeper and Pentegra the pooled plan administrator.
Edelman Financial Engines Acquires New England Pension Plan Systems
The acquisition is the 2nd with retirement plan business in the last month and brings $1.5 billion in assets under...
Would DOL’s Fiduciary Proposal Help or Hinder Coverage Gap?
Dissenters say the DOL’s proposed amendments would reduce access to needed retirement products.
Carson Group Snags $1.2B Retirement, Wealth Advisory
Oakeson Steiner is leaving OneDigital for wealth-focused Carson Group.
Top Performing Advisories More Focused on Inclusion
According to Schwab, financial advisories with good track records are showing more commitment to a diverse workforce.
Envestnet, Empower Launch 401(k) Plan Solution for Financial Advisers
The retirement platform is geared toward wealth managers seeking a plan option and includes four options for providers of target-date...
United Airlines Sues Advisers for ‘Scheme’ to Defraud 401(k) Pilot Participants
A lawsuit filed in Minnesota federal court claims an independent advisory deceived participants by taking loans from their accounts for...
RIAs Already Spread Thin, Even as Clients Want More Services, Fidelity Finds
The firm’s RIA benchmarking survey revealed a drop in new client assets and identified an opportunity to be more ‘proactive’...
Retirement Plan Aggregators Bring CITs to Small, Mid-Market Plans
The rise of CITs continues to erode mutual fund dominance in the DC market, according to the latest Cerulli data.
Creative Planning Acquires Mesirow’s Retirement Advisory Business
The RIA adds $13 billion corporate plan services team soon after announcing a deal for Goldman’s personal finance unit.
Retirement Advisory M&A Persists Amid Overall Deal Decline
DeVoe’s Q3 M&A report shows overall dealmaking in the advisory space is trending toward a down year, with the retirement...
SageView’s Long: ‘Tremendous’ Consolidation Still to Come in Retirement, Wealth
The founder, former CEO and now chairman also says serving participants—in or out of plan—will be key to succeeding amid...
Carlyle Makes Growth Investment in CAPTRUST
Equity from Carlyle will be used to advance CAPTRUST’s M&A strategy in both wealth management and retirement, says CAPTRUST president.
SEC’s Risk Alert Worth Close Look Amid ‘Bevy’ of New Rules, Charges
Compliance experts point to the regulator’s focus on third-party providers and its marketing rule stringency in the recent exam notice.
Affiliation Benefits Abound, but Independence Still Has Merits, Say Advisers Who Have Done Both
Many plan advisers have moved to affiliate models for reasons ranging from client service to career pathing, said advisers at...
Adviser Product Partnerships – 9/14/23
The Standard and NFP launch PEP solution; Flywire and Vestwell partner to streamline 529 college plan payments; CalSTRS and Sapphire...
Some Wealth Managers See Growth in Branching Out to Retirement Consulting
One of the commonly missed opportunities for growing a retirement or wealth advisory business is executive financial consulting, according to...
Advisory M&A
Cetera acquires tax-focused wealth manager Avantax for $1.2B; Investment Consulting Group joins Osaic; Hub International acquires assets of Dieffenbach Benefits...