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Bain Capital and Partners to Acquire Envestnet for $4.5B
The firm is slated to go private through purchase by Bain Capital and Reverence Capital, along with partners BlackRock, Fidelity, Franklin Templeton and State Street.
Pensionmark is Now World Investment Advisors
The rebrand of the retirement plan and wealth advisory division is meant to strengthen alignment with parent company World Insurance Associates.
Vanguard Leans Into DC Adviser Outreach
The recordkeeper and asset manager has made recent investments in consultant relationships as a tactic to grow its workplace plan and participant numbers.
The DOL, the IRS and the Chevron Reversal
The Supreme Court’s Chevron reversal creates uncertainty for plan advisers and sponsors.
Retirement Confidence Not Recovered, But Steady, Says EBRI
Although confidence hasn’t recovered since the last reading, many Americans feel optimistic about their retirement.
Retirement Industry People Moves – 6/14/24
Sequoia Financial hires chief strategy and partnerships officer; TIAA names new head of consultant relations; The Standard taps regional vice president in retirement plans; and more.
Nuveen CEO Minaya Steps Down, President Huffman Takes Role
William Huffman will take the CEO role for TIAA’s investment management division.
Marsh McLennan’s Mercer to Acquire UK-based Retirement Plan Consultant
Mercer parent Marsh McLennan will expand its international retirement footprint with purchase of Cardano.
Advisory M&A News – 6/10/24
Blue Ridge Associates acquires Tax Sheltered Corporation; Generational Wealth Partners returns to Ameriprise Financial; Kin Wealth joins Commonwealth; and more.
Cetera Hires Jerry Patterson to Lead Retirement, Annuity Push
Firm taps Fidelity’s life insurance president to bolster retirement, life insurance and annuity offerings to its network of over 10,000 financial advisers.
Retirement Industry People Moves – 6/7/24
CFP Board appoints managing directors; Royal Bank taps Sanya as CEO of U.S. asset management; Aon names Reese CFO; and more.
Managing Assets Within the Plan
This PLANADVISER In-Depth story considers the new ways financial advisers are seeking to manage participant 401(k) accounts before they’ve rolled out.
Recent College Graduates See Finance as Top Career Prospect
Young adults are also more optimistic in career prospects compared to prior years; separately, CFP marked a milestone of 100,000 people reaching certification as financial professionals.
Retirement Industry People Moves – 5/31/24
3(38) Investment Fiduciaries adds director of investments; Freedom Fiduciaries hires retirement plan consultant; Miller to lead AssuredPartners retirement services practice; and more.
Retirement Industry People Moves – 5/24/24
Hopkins elevated to chief wealth officer at WSFS; Abrdn CEO steps down as asset manager searches for a replacement; Principal taps a content head for retirement and income...
SEC’s Gensler Seeks to Clarify Mutual Fund Swing Pricing Proposal
The Chairman suggested that the regulator might opt for liquidity fees instead of swing pricing for open-end funds and also noted looking into regulatory rules around CITs.
Mariner Begins Market Push as $230B Retirement, Wealth Advisory
The head of Mariner’s new institutional retirement division says plan sponsor demand for wealth services was part of the decision for the deal with Mariner Wealth.
Advisory M&A News – 5/20/24
Blue Ridge Associates acquires TSC 401K; Alerus Financial Corporation and HMN Financial announce strategic transaction; Bluespring Wealth Partners acquires KDI Wealth Management; and more.
Retirement Industry People Moves – 5/17/24
Mercer promotes Martine Lellis to M&A lead; The Retirement Advantages hires a plan consultant; Empower announces chief compliance officer; and more.
Principal to Expand ESOP Business Via Acquisition from Ascensus
The firm will add 800 plans and more than 165,000 participants to its leading ESOP position in the U.S.