The combination of Los Angeles-based B. Riley and New York-based National Holdings will result in a firm with roughly 900 registered representatives and $29 billion in client assets.
In the first week of the new year, eight significant deals involving advisory firms were announced and a total of $159.6 billion in assets changed hands. Among the buyers and sellers — including Hightower, Sageview Advisory Group and Aquiline Capital Partners — were some of the most significant names in the burgeoning RIA industry.
Clients look to advisers for stability — especially when everything we thought as a nation about our republic was thrown into question in just a few short hours
Will more stimulus, curbing COVID-19 and releasing pent-up demand fuel a second-half surge?
The twin wins give Democrats operational control of the Senate, which is split 50-50s. While Democrats claim the majority because of the tie-breaking vote of Vice President-elect Kamala Harris, they hardly have free rein to advance legislation.
Under the measure, which the Financial Industry Regulatory Authority Inc. first released in May 2019, the broker-dealer self-regulator would use numeric thresholds for regulatory disclosures to identify firms that pose a heightened risk to investors.
There are now five companies offering downside protection through buffered ETFs, and two more firms with products in the filing stages
The plaintiff failed to raise issues with the company's process of selecting and monitoring funds, a judge wrote
As control shifts to Democrats, corporate bonds for climate, infrastructure and other projects likely to grow
All major U.S. benchmarks notched all-time highs, with the Nasdaq up 2.5%, a day after violence rocked the Capitol
Qualified charitable contributions can help offset the tax bill from required minimum distributions — but only with the right timing
Advisers and analysts also cautioned investors and clients not to confuse ugly, divisive political action like riots with what’s happening in the broad stock market, which has been on a record run since March and the advent of COVID-19.
The company was already targeted in another class-action case over the target-date series and managed account options in its plan
It is acquiring woman-led Atlanta Financial Associates, which has $815 million under management
Raleigh-based Captrust swells to $409 billion under advisement with its Southwest expansion
Big mergers can lead to headaches for broker-dealers.
The S&P 500 pared its advance to 0.6% at the close, after rallying as much as 1.5% earlier Wednesday
The managed-account service will stand out in the marketplace because it will be embedded in Vestwell’s technology, rather than located away from a record keeper and within an investment manager’s system, a detail that will help the firm compete on cost
Firm veteran Mandell Crawley takes new job; Elizabeth Dennis will succeed him as head of private wealth management
Whitnell is Rockefeller’s second family office acquisition, following the addition of Silicon Valley-based Financial Clarity in 2019, Rockefeller Capital Management has continued to expand its presence in the Midwest, opening its first Chicago-based Private Wealth Management office in October 2020
