Taking stock of a remarkable year in asset and wealth management
For the wealth and asset management industries, this year was marked by widespread consolidation, fierce competition for financial advisor talent, and firms doubling down on their wealth businesses.
From Morgan Stanley's E-Trade and Eaton Vance acquisitions to Franklin Templeton's Legg Mason deal and LPL Financial and Macquarie's bid for Waddell & Reed's businesses, the asset and wealth management industries underwent drastic consolidation.
Investment management merger and acquisition activity in the US was valued at some $28 billion this year, the highest overall deal value in the sector since $29 billion in 2000, according to data from Dealogic.
Analysts and executives expect the wave of consolidation to carry into next year as sheer scale has become a necessity for fee-pressured investment managers looking for an edge.
Business Insider is taking you through our asset and
Deal activity is taking the asset and wealth management industries by storm.
Here's our analysis of some of the biggest deals:
Wealth and asset managers are rapidly evolving in a low- or no-fee world, where clients' tastes are changing.
As the coronavirus pandemic ushered in widespread remote work, firms were forced to adjust.
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