Retirement services and wealth management have traditionally been two separate disciplines for financial advisors. However, in the past several years, there has been an overlap in these needs among clients. For advisories, this means they must address these changes or be left behind.
Marsh McLennan Agency president and national practice leader of retirement and wealth, Craig Reid, spoke at a recent panel hosted by PlanAdviser. He discusses the rising trend of retirement services and wealth management converging and why this is a natural evolution for the industry.
“It makes it so much easier when you are managing both their retirement plan and their individual wealth: You can see a clearer picture and talk to your wealth partners or your retirement partners about what’s happening in or outside of the plan,” said Craig.
