Asset Management

Citizens Onboards $600 Million Florida-Based Team

By Amit Chowdhry ● Oct 23, 2024

Citizens Financial Group announced that it is welcoming a new team of seasoned wealth advisors, led by Stephen LaForte and Jonathan Soto, as part of its ongoing strategy to accelerate wealth capabilities in key markets across the U.S. Based in Boca Raton, these senior advisors bring more than four decades of combined experience in wealth management and previously managed approximately $600 million in client assets. They specialize in customized wealth management solutions for high-net-worth and ultra-high-net-worth individuals, families, and businesses.

Cresset Buying CH Investment Partners, Bringing Firm To $62 Billion In Assets

By Amit Chowdhry ● Oct 19, 2024

Cresset Asset Management announced an acquisition of CH Investment Partners, a $6.2 billion multi-family office and private investment firm serving ultra-high-net-worth families. Through this acquisition, the integrated firm will manage more than $62 billion in assets for high-net-worth and ultra-high-net-worth families.

Kestra: Funds Managed By Stone Point Agrees To Buy Majority Interest In Parent Partnership

By Amit Chowdhry ● Oct 19, 2024

Kestra Holdings announced that funds managed by Stone Point Capital (a leading private equity firm focused on global financial services and related industries) has agreed to buy a majority interest in the parent partnership of the company, replacing current partner Warburg Pincus. Private equity firm Oak Hill Capital will remain a minority owner. And the Kestra Holdings management team and a large number of Kestra-affiliated financial advisors and Bluespring-affiliated principals will retain equity positions in the company. Bluespring Wealth Partners is the acquisition arm of Kestra Holdings.

MyFO: $3.5 Million (Seed) Raised For Transforming Family Office Management

By Amit Chowdhry ● Oct 18, 2024

MyFO, a fast-growing platform for family offices and the wealth management professionals who service them, announced the closing of its oversubscribed $3.5 million seed funding round, led by Rhino Ventures. The platform simplifies and organizes financial lives by creating a comprehensive family office platform consolidating data, documents, and stakeholder management. The new injection of funds will scale its operations to meet growing demand, enhance its product offerings, and expand its team.

LPL Onboards $340 Million Morristown Wealth Management And $685 Million Air Capital Teams

By Amit Chowdhry ● Oct 18, 2024

LPL Financial announced that it onboarded a couple of teams recently. This includes Morristown Wealth Management and Air Capital.

MAI Capital Management Onboards $1.2 Billion Halpern Financial Team

By Amit Chowdhry ● Oct 16, 2024

MAI Capital Management, a registered investment adviser (RIA) specializing in investment and financial planning for high-net-worth individuals and families, announced the acquisition of Halpern Financial. The terms of the transaction were not disclosed.

Family Office Resource Group Reveals Launch And Equity Investment From 4100FS

By Amit Chowdhry ● Oct 16, 2024

The Family Office Resource Group (FORG) officially announced its launch, along with a growth equity investment from 4100FS. FORG provides a comprehensive and white-labeled family-office solution to wealth management and professional services firms that want to meet the often complex and ever-growing needs of ultra-high-net-worth (UHNW) individuals and families.

Cerity Partners Acquires $1 Billion Advisory Firm SBC Wealth Management

By Amit Chowdhry ● Oct 16, 2024

Cerity Partners, a leading independent wealth management firm in the U.S., announced that it is merging with SBC Wealth Management, an Indianapolis-based wealth management firm serving affluent individuals and businesses.

Cetera Signs Deal With Protective Life To Buy $12 Billion AUA Concourse Financial Team

By Amit Chowdhry ● Oct 16, 2024

Cetera Financial Group, a premier financial advisor Wealth Hub, announced that it has entered into a definitive agreement to acquire Concourse Financial Group Securities (CFGS), a subsidiary of Protective Life Corporation, via asset acquisition. Based in Birmingham, Alabama, CFGS is comprised of Protective's affiliated retail distribution system, dually registered broker-dealer, and registered investment advisor.