2020 in Wealth Management, Asset Management: Mergers, Talent Trends | Zoom Fintech

For the wealth and asset management industries, this year has been marked by widespread consolidation, fierce competition for talented financial advisers and companies doubling their wealth management businesses.

From the E-Trade acquisitions of Morgan Stanley and Eaton Vance to the Legg Mason deal of Franklin Templeton and the offer of LPL Financial and Macquarie for the business of Waddell & Reed, the asset and wealth management sectors have underwent a drastic consolidation.

The investment management merger and acquisition business in the United States was valued at some $ 28 billion this year, the industry’s highest aggregate value since $ 29 billion in 2000, according to data from Dealogic.

Meanwhile JPMorgan, Goldman Sachs and Citi have all presented new ambitions or executed plans to expand their wealth management businesses, and a wave of recruiting financial advisers has taken the industry by storm.

Analysts and executives expect the wave of consolidation to continue next year, as scale has become a necessity for investment managers under pressure on fees and seeking an edge.

Fintech Zoom presents our 2020 asset and wealth management coverage.

Jamie Dimon, Jennifer Johnson, James Gorman

Jeenah Moon / File Photo / Reuters, Franklin Templeton, Yuri Gripas / Reuters

Transactions are taking the asset and wealth management industries by storm.

Credit Suisse names 4 companies as likely targets for deals after new wave of mergers and acquisitions in asset management – and identifies potential buyers

Executives at 4 asset managers like Franklin Templeton and Invesco give clues as to how they are preparing for a wave of mergers and acquisitions

A new PSPC is looking for a wealth management deal. Here’s a rundown of the type of businesses he’s targeting.

Here is our analysis of some of the biggest deals:

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

What BlackRock’s Billion Dollar Offer for Trendy Indexing Company Means for the Fund Management Industry

Morgan Stanley, with over 15,000 financial advisors for the super-rich, buys discount broker known for talking baby ads

Kristin Lemkau, CEO of JPMorgan US Wealth Management

David Fitzgerald / Sportsfile for Web Summit via Getty Images

Wealth and asset managers evolve rapidly in a low-cost or free world where client tastes change.

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

Growth-hungry wealthy Uber investors have turned to the private market. Here’s how wealth management companies like Citi and UBS are transforming their businesses to meet the demands of their clients.

Meet the 17 BlackRock Players Realizing CEO Larry Fink’s Vision to Drive Growth in Private Equity and Alternative Investments

Goldman Sachs just revealed a new brand of wealth on his very first Investor Day. It shows how the bank is trying to reshape its strategy – and its image.

How JPMorgan’s Kristin Lemkau Plans to Boost the Company’s $ 500 Billion Wealth Business From Rebranding and Advisor Training to New Technology

financial companies leave new york for florida 2x1

Samantha Lee / Fintech Zoom

As the coronavirus pandemic ushered in widespread remote working, businesses have been forced to adapt.

Is Florida the New Wall Street?

Wealth managers can no longer take clients on outings or splashy events due to the pandemic. Here’s what they do instead to keep their wealthier customers happy.

Wells Fargo is abandoning a WeWork space of 750 people, while Citi has signed a deal with the flex-office giant far from a major city. Here’s a look at how financial companies are reorganizing their real estate.

Merrill Lynch has resumed hiring for his ultra-competitive 3,000 financial advisor intern program after taking a hiatus for months amid the pandemic

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