PlanAdviser features Marsh McLennan Agency’s Financial Trends Report
According to Marsh McLennan Agency’s 2024 Financial Trends Report, a convergence of retirement and wealth management services firms will be a crucial trend for financial professionals to monitor this year.
Marsh McLennan Agency’s president and national practice leader of retirement and wealth, Craig Reid, was quoted in PlanAdviser on his outlook for how retirement and wealth management businesses will merge and why.
“There is a distinct difference in skills needed to be a great wealth adviser versus a great plan adviser,” Craig says. “Talented plan advisers are generally those who have been with the same firm for a number of years, have amassed a sizeable book of business and are very difficult—i.e. expensive—to ‘hire away.’ It’s not impossible, just difficult.”
