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Mercer raises $1 billion in recapitalization deal, bringing in new private equity backer
The additional investment from Altas Partners pushes Mercer's valuation past $3 billion.
Creative Planning acquires $2.5 billion professional services firm
BerganKDV provides accounting, tax and audit services and business advice, in addition to wealth management.
Advisor Group hires Dynasty co-founder Ed Swenson to lead RIA channel
The independent broker-dealer is developing different channel strategies as part of its rebranding, and RIAs are a big part of that.
Market volatility exposes generation gap among investors
As the banking crisis unfolded during the first quarter, the youngest investors were loading up on financial sector stocks and crypto, while older investors backed off.
The ‘AUM illusion’ and organic growth
Having more people know what you can do for them rather than what they can do for you could be a route to growth that suits many advisors.
Direct indexing struts its tax management magic
The technology is gaining appeal as way for advisors to separate themselves from the financial planning pack.
Backers of bill to ease small-firm regulatory burden seek Senate gains after House win
The legislation would force the SEC to calibrate compliance costs for small and growing businesses, including advisory firms.
Hightower takes stake in $2.3 billion New England RIA
Vigilant Wealth Management has offices in Portland, Maine, and Portsmouth, New Hampshire.
Fidelity leans into alternative strategies as demand grows amid economic uncertainty
Fidelity's alts platform, which launched in 2013, has seen assets grow by 70% since 2020.
Thrivent Advisor Network adds 25th affiliate to its turnkey RIA platform
Since launching as a spinoff of Thrivent Financial in 2019, the platform has grown to $5 billion in client assets.
Concurrent restructures to recruit advisors from across wealth management
Since becoming a hybrid RIA, Concurrent has added five new firms that combine for $440 million and it's ramping up to co-brand advisors from every possible direction.
Merit notches 19th deal since taking PE capital
The acquisition of Planned Futures, which manages $460 million, expands Merit's footprint in Pennsylvania.
BNY Mellon ups its cash management game
Its expanded LiquidityDirect platform provides access to various short-term cash management funds, strategies and even community banks.
What keeps these top securities regulators awake at night?
"I call it B-D/IA arbitrage," Finra's Christopher Kelly said, describing his concern about advisors flouting the boundaries between charging clients fees and commissions.
The evolution of RIA consolidation starts to favor buyers
Fidelity's latest report shows more deals involving smaller firms and structures that put buyers in the driver's seat.
Merrill team with $200 million in assets joins Sanctuary
Jersey City, New Jersey-based Crescent Harbor Private Wealth was founded by John Araneo.
When fiduciary duty is at odds with what’s right for clients
It's time for the financial services industry to rethink its rules when it comes to offsetting fees.
Cetera goes more RIA-ish by hiring Durbin from Fidelity
It's in the best interest of Cetera's owner, Genstar Capital, to make the broker-dealer network look as much like a registered investment advisor as possible.
Advisor movement continues to slow, but there’s a bright spot
Despite the broader slowdown in recruiting over the first three months of the year, the RIA and independent broker-dealer channels have continued to bring on experienced advisors at a steady pace.
Goldman custody business gains steam with $1 billion add from Prime Capital
Goldman representatives say the custody operation is on track for success, but don't disclose details.
