华利安：2023退休产业冬季更新报告（英文版）（54页）.pdf

1、Financial Services GroupRetirement Industry OverviewINDUSTRY UPDATE Winter 2023Market Overview The retirement market is massive,exceeding$32 trillion in assets.Approximately$9 trillion invested in defined contribution(DC)plans,including more than$6 trillion in 401(k)plans.Macroeconomic and geopoliti

2、cal market pressures continue to displace the market and renew individuals desire for stability as they focus on retirement savings.The Setting Every Community Up for Retirement Enhancement(SECURE)2.0 Act recently passed,bringing a slate of changes that will strengthen the retirement system,includin

3、g automatic enrollment in 401(k)plans,increased catch-up contributions,and emergency savings accounts.Robust Mergers and Acquisitions Activity M&A activity within the retirement space declined from peak levels in 2021.Despite the slowdown,activity remains strong with total deal volume 50%higher than

4、 2020.Retirement and wealth continue to converge;emerging multifunctional platforms(CAPTRUST,Creative Planning,Hub,etc.)are showing they can fully service participants while offering equally capable wealth management and financial planning.Retirement Trends Several notable trends have emerged in the

5、 retirement market:Decreased Savings:The current economic environment has led to decreased savings rates,which can have major consequences on retirement outcomes.Holistic Planning:Planning has evolved to include both pre-and post-retirement offerings,as the workforce has a growing number of both you

6、ng and older workers.Protection:The desire for downside protection and collaboration between sponsor and advisor has trended as participants seek expert advice to navigate turbulent markets and economic uncertainty.Retirement Market SummaryWinter 2023 Industry Updates and DriversEric WeberManaging D