The managed-account service will stand out in the marketplace because it will be embedded in Vestwell’s technology, rather than located away from a record keeper and within an investment manager’s system, a detail that will help the firm compete on cost
The savings vehicles are only available in one adviser-sold program, though 43 states provide direct-sold options
The deal follows other major announcements, including the purchase of Compass Financial Partners and a majority stake acquisition in Sageview Advisory Group
Consolidation has been a theme of late in the retirement plan adviser world, and private equity has increasingly poured money into the space, which has helped push valuations to high points, leading to ample selling opportunities for adviser firms
Four years ago, a financial adviser got a call from a prospect who did not want to disclose any information over the phone. At the in-person meeting, the woman and her husband told the adviser that she had won a $1.2 million jackpot.
Ongoing consolidation has been good for some aggregator firms, but others are being left out.
The forthcoming plans present challenges and opportunities, record keepers say
The strategy is seen as an opportunity to help train younger advisers and prospect for wealth management clients.
Combining financial wellness with traditional wellness programs can highlight their value, according to guests at a recent RPA event.
A CARES Act provision that encourages companies to repay their workers' student loans would be available for another five years
