Why Convergence of Wealth and Retirement Is Heating Up Now
- 1 day ago
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Barstein, F. (2026, June 29). Why convergence of wealth and retirement is heating up now. Wealth Management. https://www.wealthmanagement.com/rpa-news/why-convergence-of-wealth-and-retirement-is-heating-up-now
Creative Planning CEO Peter Mallouk called the convergence of wealth and retirement at the workplace his firm's biggest opportunity over the next couple of years.
LPL retirement leader Michael Doshier noted that advisors who also handle retirement plans grow 2.1 times faster than those who focus on retirement plans alone.
Edward Jones is investing in a tech-first TPA, Aboon, and expanding its roster of record keepers to include JPMorgan Chase and T. Rowe Price to help small business owners access both wealth and retirement services.
A recent NMG Consulting survey found that 70% of retirement plan advisors and aggregators now offer wealth services, though Captrust maintains a 10-year head start in the space.
Creative Planning's acquisitions of Lockton's retirement division, with over $100 billion in assets, and Sageview, with $285 billion, have drawn competitor attention alongside Hightower's purchase of NEPC, Cerity's acquisition of Veras, and Mariner's purchase of Andco.
Wealth assets total $74 trillion, more than five times the size of defined contribution assets, giving wealth management revenue opportunities that can be up to 40 times greater than retirement plan fees.
Morgan Stanley captured $300 billion in wealth from the workplace between 2020 and 2025, and Edelman Financial Engines is revisiting workplace opportunities under new CEO Ralph Haberli.