Millennials will hold 5 times as much wealth as they have today and will inherit over $68 trillion from their Baby Boomer parents by the year 2030.
Longevity Banks and FinTech 2.0 services will attract people 60+ who want to optimize their wealthspan.
The companies have introduced seven new model portfolios that optimize the advantages of both active and passive fund management.
Sieg said the unit is focused on investing in Merrill's existing technology, which includes its own self-directed investing tool.
Demographic changes and the emergence of new competition for wealth advice are set to dramatically alter advisory practices.
