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Captrust acquires $2.3 billion Southern Wealth Management for fifth deal this year
This marks the third Texas acquisition this year for Captrust, which now has 69 deals on the books.
Allworth Financial adds $260M father-daughter RIA firm to fast-growing footprint
With women controlling an increasing share of wealth, the addition of another female partner-advisor is important for Allworth
RIA M&A stumbles in the second quarter
Acquirers say the highest-quality firms still command high valuations, while the rest are seeing new deal structures.
Millennial advisor carves a niche populated by her peers
Emily Stead wants to be the advisor people think of when a younger person is facing a financial challenge.
Mercer Global Advisors heads northeast for second acquisition of the week
The deal adds Delaware-headquartered RIA Mallard Financial Partners, with $180 million in AUM, to Mercer’s growing footprint.
New mission for African American advisor trade group
The Association of African American Financial Advisors is a 'sleeping giant trying to awaken,' says chair Christian Nwasike.
Why bonds are shaping up to be the new alternative investment
As the recession outlook moves further down the road, advisors see the Fed keeping rates higher for longer, boosting the appeal of fixed income.
Cerity Partners merges with UHNW-focused AJ Wealth
AJ Wealth was founded by two former Goldman Sachs wealth managers and serves family offices of ultra-high-net-worth clients.
Financial Professionals Coalition seeks to help ‘disenfranchised’ financial advisors
Former Finra board member Stephen Kohn set up the group to help advisors who are looking for a new job, seeking to address a customer complaint on their record, or need help with a range of other issues.
Advisors prep clients for recession everyone anticipates but nobody can see
Consensus estimates are that the US economy will dip into recession later this year or early next year.
Mercer Global Advisors adds $400 million in first deal since latest recapitalization
The founder of Macon, Georgia-based Day & Ennis, a 35-year-old RIA, cited the need to scale as a driving force behind the deal.
Finra dings Hightower with $353,000 penalty over alt sales
Both GPB private placements and the LJM mutual fund were widely sold by brokerage firms prior to 2018.
Strong first half for markets forces advisors to defend pessimistic outlooks
The broad markets are climbing a wall of worry, although that's been overshadowed by the triple-digit returns of tech sector highfliers.
Staying in-plan: More 401(k)s keep retiree assets but more products needed
Keeping retirees in the plan helps both participants and sponsors save on costs, but many 401(k)s are lacking income options.
Carson Group parts ways with its first chief technology officer
Nimesh Patel was named to the firm's newly created CTO position in February 2022.
SEC report on RIA mandatory arbitration leaves many questions about potential investor harm
The report says more than half of investment advisors force their clients to go to arbitration to settle disputes, but it doesn't put a number on RIA arbitration cases or the costs for claimants.
Procyon Partners adds two advisors managing $600 million
Frank McKiernan and Jerry Sneed are joining Procyon, a Dynasty Financial network firm, from Baker Tilly Wealth Management.
RIA valuations are up but hitting a plateau: Fidelity
Owners of RIAs want higher prices for their firms now than they did between 2017 and 2019, the last time Fidelity did this study.
Not enough rookie advisors to go around, Cerulli says
Financial advisor head count grew by just 2,579 advisors in 2022, while the failure rate among rookie advisors was more than 72%, according to a Cerulli study.
Number of investment advisors hits record high
Employment at advisory firms also reached a record, while assets under management declined in 2022, according to an annual study by the Investment Adviser Association and National Regulatory Services.
