Massachusetts Mutual Life Insurance, Pacific Life Insurance and TIAA are among companies that have been pursuing deals to diversify operations and gain market share from publicly traded rivals.
Many ETFs will avoid some aspects of sweeping new U.S. regulations meant to ensure that asset managers can easily meet investors redemption demands.
The challenges that asset managers face: rising regulatory costs and growing pressure on fees from cheaper competitors.
The metal's retreat has taken place against a backdrop of investor concern that the world's leading central banks.
A new era is dawning for advisers and long-term investors of all kinds, Mark Wiedman, global head of iShares, said in the statement.