AON(US:AON) Wealth Management·2025-12-18 16:07Group 1: Company Developments - Fred Reish has left Faegre Drinker to join Prime Capital Financial as the leader of its fiduciary and ERISA practice [1][2] - Prime Capital is enhancing its retirement plan division and has been actively acquiring and recruiting advisors for its wealth management practice [3][5] - Jania Stout, president of Prime Capital Retirement and Wellness, emphasized that Reish's qualifications will be significant assets for clients and advisors [3] Group 2: Leadership Changes - Reish was a partner at Faegre Drinker since 2011, where he provided guidance on retirement plan regulations and fiduciary obligations [2] - In his new role, Reish will focus on fiduciary oversight, plan design guidance, and participant-level financial wellness for Prime Capital's clients [5][6] - Scott Colangelo, Chairman and Managing Partner of Prime Capital, referred to Reish as an "influential mentor" and expressed honor in having him join the firm [6] Group 3: Industry Context - Wealthspire has launched its institutional advice division, managing approximately $500 billion in assets under advisement [7][8] - The newly formed division will include retirement plan assets, fiduciary services, and consulting for endowments and foundations [8][10] - Wealthspire, with a total of $580 billion in assets, was formed when Madison Dearborn repurchased wealth assets from Aon Plc in 2024 [9]