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Pinnacle Associates acquires $580 million Virginia RIA
Investment Management of Virginia was founded in 1982 and has offices in Richmond and Charlottesville.
Giant RIA merger creates firm with $15 billion in assets
The management of Adviser Investments, Ropes Wealth and Summit Partners will own the combined firm.
Advisor Group loses teams with $615 million to Commonwealth, LPL
Trusted Wealth Partners in Omaha, Nebraska, is moving to Commonwealth while Connecticut-based Hedberg Wealth Management is going to LPL.
RIAs are embracing compliance as a necessary evil
In an era of increasingly complex regulatory oversight and possibly the most aggressive SEC ever, breakaway RIAs are realizing that compliance is not something to be ignored.
RIAs need to get past their fear of asking for referrals
Research shows most new clients come directly from referrals from existing clients, yet most advisors are reluctant to ask for referrals.
CI equity sale seen as endorsement of higher wealth management valuations
The sale of the 20% equity stake values the US wealth unit, CI Private Wealth, at $5.3 billion, and it postpones the planned IPO.
Organic growth in the RIA space is fading away
David DeVoe challenges the industry to refocus on organic growth, but not just for growth's sake.
Bain, Abu Dhabi purchase 20% stake in CI Financial’s US wealth unit
The transaction allows CI to pay down some of the debt it accumulated as it acquired wealth management firms across the US.
Savant Wealth closes in on $20 billion with fourth acquisition of the year
The deal for Domani Wealth adds $1.5 billion and expands Savant's footprint with Domani's four offices in central Pennsylvania.
Wells Fargo team with $1 billion jumps to RIA
The Compass Group advisors are joining DayMark Wealth Partners, a Cincinnati, Ohio-based RIA with $907 million in assets.
Advisor, industry groups blast SEC custody proposal
Trade groups question a provision in the proposal that would deem advisors with discretionary authority over client accounts to have control of the assets.
Ex-Brinker execs launch firm catering to RIAs and foreign banks looking to start RIAs
Jason Moore and John Coyne have high hopes for their three-pronged business model at Ategenos Capital.
Cresset bulks up multifamily office by merging with True Capital Management
True brings $1.7 billion and a raft of athlete and entertainer clients to the Cresset platform, which is hovering around $33 billion.
First Republic advisor joins Certuity
Daniel Lee had been affiliated with First Republic since 2013 and was credited with bringing in $7 billion in assets.
Hightower takes stake in TEN Capital
The firm, with offices in Spokane and Seattle, Washington, oversees $1 billion in assets.
Financial advisors shun ‘sell in May’ — but still make the case for selling
History is on the side of sitting on the sidelines from May through October, but advisors say investing is not that simple.
AmeriFlex Group rolls out proprietary planning solution
AmeriFlex Premier+ will allow advisory firm clients to look at possible future outcomes that could result from their planning decisions.
Illinois RIA joins LPL from Securities America
Thomas Reynolds and Kathleen Gfrorer of Oakbrook-based Landmark Capital are closing their RIA to join LPL’s corporate RIA.
SEC approves stronger reporting requirements for private fund advisors
Hedge funds with at least $1.5 billion in assets now have to report significant investment losses and withdrawals to the SEC within 72 hours.
Wealth Enhancement Group snaps up Iowa RIA with $355 million in assets
The deal for Dubuque-based Heacock & Jones Financial Services is Wealth Enhancement Group's sixth acquisition this year.
