Financial Services consolidation continues the march towards bigger and better. Minnesota-based Securian has decided to exit and sell its retirement division to Oregon—based The Standard. The need to achieve scale in defined contribution recordkeeping has been prevalent, if not obvious, during the last 7 years.
Through this transaction, The Standard has grown assets approximately 50%. Many such transactions in the past have been driven by providers looking to add functionality or grow their markets.
For advisors who are looking to protect their clients by avoiding disruption , the question is not “Who’s next?” To view this entire article on www.WealthManagement.com click here.
