![]() ![]() ![]() Dan Seivert: 'Effectively, they are entering a different business model and different market.' This is a major shakeup from the past when 401(k) assets were completely separate from wealth assets, says Dennis Gallant, strategic advisor of Aite-Novarica Group. "Effectively, they are entering a different business model and different market with a whole new set of competitors and competitive dynamics," Seivert says. The growth is staggering, but the transcendence of Creative Planning's existing business model leaps out even more, said Dan Seivert, CEO of Echelon Partners. For us, this is the most important part of the deal, and this has the potential to be transformational," says Mallouk. "We will be looking to Lockton to help our clients in several areas as well. The deal will give Lockton’s clients access to holistic advice, while Creative Planning will take Lockton’s educational component nationwide, according to the company. “This alliance is something only our two firms together could do,” said Lockton CEO Peter Clune, in a statement. The deal is being called a partnership because Lockton is taking a stake in Creative Planning. The Overland Park, Kan., firm's purchase of Lockton Companies Inc.'s retirement assets, which includes a staff of fewer than 500 of Lockton's 1,000-plus, will be its entree into the big leagues. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |