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March 6, 2023

Craig Reid featured in PLANADVISER

The advisory firm mergers and acquisitions rate has been rising in recent years. Many retirement plan advisory firms have decided that wealth management has a place in their business and vice versa. More practices are moving beyond just advising on investments and plan design and are now working directly with individual participants and consulting on benefits.

Craig Reid, President and National Practice Leader, MMA, Retirement and Wealth, recently joined a panel hosted by PLANADVISER to discuss the state of the retirement plan advisory industry, how adviser roles are evolving, and what aggregator firms can and cannot offer advisers.

“You’re going to see an increase of deal volumes on the smaller level, a lot of those are going to be scope-type M&A, which is more about that specialization and acquiring for scale and speed. These are things you might not have today but would be quicker to get to in the market if you partner with a good firm,” said Craig, citing a Bain & Co. consulting report.

Read the full article in PLANADVISER.