Carson Group Grows to Billion Dollar Valuation
Carson Group is now being valued at more than a billion dollars. The fast-growing financial technology and services firm is taking on Bain Capital as a minority partner. According to the release, Bain's investment should help with expansion by acquisition and technology development. Carson Group's executive team will remain intact, with Founder and Chief Executive Officer Ron Carson at the helm.
United Expands Advisory Services with $2 Billion RIA Acquisition
United Community Banks is expanding its Advisory Services division by acquiring FinTrust Capital Partners in Greenville, South Carolina. According to the release, FinTrust managed about $2 billion across its advisory, retirement planning and brokerage businesses as of the end of Q1. United's board of directors has approved the deal, which is expected to close in the third quarter this year.
Merrill Lynch Team of Advisors Join LPL
A team reportedly managing $650 million in assets is leaving Merrill Lynch and launching a new firm with LPL Financial. According to the release, the four advisors will leverage LPL’s broker-dealer, corporate RIA and custodial platforms, and the Strategic Wealth Services model. Their independent practice called NorthEnd Private Wealth will be headquartered in Greenville, South Carolina.
#1 RIA Valued at $7.3 Billion in Investment from PE Firm Warburg Pincus
The #1 independent advisory firm in the country just announced has a new investment from Warburg Pincus. The PE firm is acquiring minority ownership and joining the board of Edelman Financial Engines, which manages $260 in assets. According to the release, this strategic investment values the nation's top RIA at $7.3 billion and is expected to close in the second quarter of this year.
Former White House Economic Director Larry Kudlow to Join $2.6 Billion RIA
Former White House Economic Director Larry Kudlow is joining The Bahnsen Group, a bicoastal $2.6 billion wealth management firm. As part of his new role as economic advisor, Kudlow will participate in client events and advise The Bahnsen Group’s investment committee. CIO David Bahnsen said in the release “Larry has been a mentor to me for many years, both personally and professionally. We both share a love of free markets."
Stratos Wealth Partners: How Advisors Are Navigating Disruption and Change
Stratos Wealth Partners Founder & CEO Jeff Concepcion shares how the Coronavirus crisis has forced firms to innovate, offers his advice for staying engaged, and speculates about the future of communication.
Mercer Global Advisors Acquires $815 million Atlanta RIA
One of the largest financial planning firms in the country managing nearly $25 billion is expanding its footprint in Georgia. Mercer Global Advisors is buying Atlanta Financial Associates. AFA is a woman led and founded RIA that has about 570 clients and $815 million in assets under management.
Barry Ritholtz: Favorite Stories from the Least Favorite Year
Ritholtz Wealth Management Chairman & CIO Barry Ritholtz shares what it was like launching his own firm and the lessons he has learned along the way. He also outlines 10 finance phrases to avoid, compares the stock market to the economy, and talks about why it's important to set goals.
#1 Financial Advisory Firm Shares Biggest Piece of Investment advice
David Rea tells investors not to forget this very critical investing principle. He's President of Salem Investment Counselors, which has been ranked the #1 Advisory Firm by CNBC two years in a row.
$2 Billion Advisors from Morgan Stanley Move to LPL Affiliate
A $2 billion team from Morgan Stanley is heading to LPL affiliate Gladstone Wealth Partners. John Gallagher and Mark Levin are setting up a new office in Marlton, NJ. The advisors said in the press release that they chose the name cfor the new firm because Maverick means "independent-minded."
Mitlin Financial Founder Talks Technology, Client Needs & Diversity
Larry Sprung, Founder and Wealth Advisor at Mitlin Financial, shares how client needs and expectations have changed over the years and how to align investments with goals. He also weighs in on diversity and inclusion, what inspired him to become a financial planner, and the evolution of technology.
LPL Recruits $1 Billion Team from Omaha
LPL Financial just picked up a $1 billion team from Omaha. Tagge Rutherford Financial Group is leaving Cetera to join LPL Financial’s broker-dealer and corporate RIA platforms. Executive Monte Peterson said in the release, "we recognized a need for a change—one that impacts clients positively and creates more office efficiencies."