Banks can provide an opportunity for RPAs
As several recent deals show, such as OneDigital s purchase of Truist s RPA business, banks offer retirement plan advisers a chance to grow their business.
January 25, 2021 2 MINS
OneDigital’s recent acquisition of Truist Financial’s retirement advisory practice raises the question of whether banks offer an opportunity for retirement plan advisers to grow their business, just as they have for record-keeper outsourcers like Empower Retirement and Ascensus.
For Vince Morris, president of OneDigital’s retirement and wealth practice, there was the obvious opportunity to acquire more $10 billion in assets, 1,200 plans and 24 team members. But there is also the chance to cross-sell.
Vestwell, Franklin Templeton Partner To Bring New Tech to 401(k)s Relying on a mix of APIs, special methodology and a tech-forward attitude, Vestwell and Franklin Templeton aim to give advisors more control over managed retirement accounts.
Vestwell, through a partnership with Franklin Templeton, is expanding its own platform to provide a managed retirement account solution. The new features, to be completed and deployed by mid-year, are being designed to give better investment customization to end-clients, as well as allow certain advisors to run managed retirement accounts with more scale.
Already partially developed, Vestwell will continue building a managed account user interface for small-to-mid sized businesses and the retirement plan providers and advisors that service them, in addition to its usual intermediary work of recordkeeping, said Joshua Forstater, SVP of strategic partnerships at Vestwell. Vestwell will “natively” integrate Franklin Templeton s Goals O