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CI Financial adds $5 billion RIA, reports record financial results
The Canadian financial conglomerate acquired Newport Beach, California-based Corient Capital, while its earnings show its U.S. operations now represent its largest business segment.
Focus Financial Partners looks to double revenue by 2025: Adolf
The RIA aggregator reported that it finished 2021 with a bang, closing 22 deals in the fourth quarter alone. For the year, it hit a new high of 38 RIA transactions.
Why RIAs should look at PE the way PE looks at RIAs
As private equity pours cash into wealth management, financial advisers should be exposing clients to private equity investments.
The latest in financial #AdviserTech — February 2022
This month’s #AdviserTech roundup includes Wealthfront’s $1.4 billion acquisition by UBS, Gemini’s purchase of Bitria, and a couple of deals related to RIA compliance technology.
An advisory firm that helps blended families rebuild
Blend Wealth's co-founders are using their own experiences to help other blended families get on the same page financially.
OneDigital acquires $170 million Florida firm
Sarasota-based Generations Wealth Planning is led by a father-and-son team, Rob and Kevin Lyons.
SEC fines 12 firms total of $292,523 in Form CRS enforcement actions
It's the agency's second round of Form CRS compliance cases. The SEC is encouraging firms to self-report delinquencies.
Hightower’s suit against $39 million RIA described as ‘wirehouse 101’
The $104 billion Chicago-based aggregator is going after a Seattle adviser for taking clients with him when he left a year ago.
Raymond James nabs Florida team managing $227 million
The Orlando-based advisers will operate as Signature Wealth Partners and will serve high-net-worth individuals, pre-retirees and corporate executives.
Allworth Financial acquires $480 million RIA
The agreement brings Allworth’s total number of offices to 21 across the country.
Fusion Family Wealth sells minority stake to Merchant
Merchant's partnership structure continues to push into the RIA space with nearly 50 ownership stakes.
Merchant Investment Management takes minority stake in $1 billion RIA
The Chicago-area advisory firm, Inspirion Wealth Advisors, will use equity infusion to develop next-generation planners and potentially make acquisitions.
Wirehouses are most productive channel: Cerulli
Although wirehouses are shrinking, the study finds their reps have an average AUM of $198 million, versus an average of $88.1 million industrywide.
CI Financial’s US expansion is a Canadian success story
The Toronto-based company's business operations in the United States represent the largest and fastest-growing segment of the $304 billion financial conglomerate.
Merchant Investment Management takes stake in Minnesota RIA
Summit Investment Advisory Services manages $490 million for clients in Minnesota, Wisconsin and Florida.
ETFs give advisers varied tools for fighting inflation
The new Amplify Inflation Fighter ETF joins a short list of strategies designed to hedge and leverage price pressures.
Fidelity updates its Wealthscape tech platform
Refreshes mobile app and adds a digital empowerment tool.
Hub acquires assets of West Coast RIA
Kornerstone, based in Chico, California, manages $560 million.
Private equity influence on wealth management is big and getting bigger
The 38 direct PE investments in wealth management last year compares to 23 in 2020 and 11 in 2019. Now PE is eyeing the wealthtech space.
River Wealth Advisors sells minority stake to Merchant Investment Management
Merchant insists the noncontrolling investment is distinct from traditional private equity capital, which often comes with a short-term commitment.
