2020 in wealth management, asset management: mergers, talent trends

For the wealth and asset administration industries, this 12 months was marked by widespread consolidation, fierce competitors for monetary advisor expertise, and companies doubling down on their wealth companies.

From Morgan Stanley’s E-Trade and Eaton Vance acquisitions to Franklin Templeton’s Legg Mason deal and LPL Monetary and Macquarie’s bid for Waddell & Reed’s companies, the asset and wealth administration industries underwent drastic consolidation. 

Funding administration merger and acquisition exercise within the US was valued at some $28 billion this 12 months, the very best general deal worth within the sector since $29 billion in 2000, in accordance with information from Dealogic. 

In the meantime JPMorgan, Goldman Sachs, and Citi all laid out new ambitions or executed on plans to develop their wealth companies, and a flurry of financial advisor recruitment took the trade by storm.

Analysts and executives anticipate the wave of consolidation to hold into subsequent 12 months as sheer scale has turn out to be a necessity for fee-pressured funding managers in search of an edge.

Enterprise Insider is taking you thru our asset and wealth administration protection of 2020. 

Deal exercise is taking the asset and wealth administration industries by storm. 

Credit Suisse names 4 firms as likely deal targets after a fresh wave of asset management M&A — and pinpoints possible buyers  

Execs from 4 asset managers like Franklin Templeton and Invesco give clues on how they’re prepping for a wave of M&A 

A new SPAC is on the hunt for a wealth-management deal. Here’s a look at the type of companies it’s targeting. 

This is our evaluation of a few of the greatest offers: 

Why Morgan Stanley’s $7 billion bid for a storied asset manager gives it a leg up on rivals and signals more deals to come

What BlackRock’s $1 billion bid for a trendy indexing business means for the money management industry  

Morgan Stanley, which has 15,000-plus financial advisers catering to the super-wealthy, is buying a discount broker known for its talking baby ads

Wealth and asset managers are quickly evolving in a low- or no-fee world, the place shoppers’ tastes are altering.

The asset manager of the future looks like a consultant. Here’s how firms like BlackRock, PIMCO, and Invesco are preparing for it.

Uber-rich investors hungry for growth have turned their sights on the private market. Here’s how wealth firms like Citi and UBS are transforming their businesses to meet those client demands.

Meet the 17 BlackRock power players carrying out CEO Larry Fink’s vision to turbocharge private equity and alternative investments growth

Goldman Sachs just revealed a new wealth brand at its first-ever investor day. It shows how the bank is trying to reshape its strategy — and image.

How JPMorgan’s Kristin Lemkau is planning to turbocharge the firm’s $500 billion wealth business, from a rebrand and ramping up advisor training to new tech

Because the coronavirus pandemic ushered in widespread distant work, companies had been compelled to regulate.

Is Florida the new Wall Street?

Wealth managers can no longer take clients on splashy outings or events because of the pandemic. Here’s what they’re doing instead to keep their richest clients happy.

Wells Fargo is ditching a 750-person WeWork space, while Citi inked a deal with the flex-office giant far from a big city. Here’s a look at how financial firms are retooling their real estate.

Merrill Lynch has restarted hiring for its ultra-competitive 3,000-person financial advisor trainee program after hitting pause for months amid the pandemic