Asset Management

iCapital Surpasses $200 Billion In Global Platform Assets

By Amit Chowdhry ● Oct 14, 2024

iCapital, a global fintech platform driving the alternative investment marketplace for the wealth management industry, announced that it has surpassed $200 billion in global platform assets. Increased global client demand for high-quality private market funds has led to this milestone and accelerated the growth of client assets on iCapital's platform.

EP Wealth Advisors: $26 Billion RIA Reveals Strategic Partnership With Opto

By Amit Chowdhry ● Oct 14, 2024

EP Wealth Advisors, a leading independent registered investment adviser (RIA) with an expanding national presence and client base, announced a strategic partnership with Opto Investments, a technology-enabled solution expanding private markets access for independent investment advisors. This deal will support EP Wealth’s ability to provide clients with a scalable, digital-forward solution comprising high-quality private market opportunities and flexible investment options.

CapIntel Partners With FactSet To Enhance Wealth Management Services

By Amit Chowdhry ● Oct 14, 2024

CapIntel (a leading proposal generation and client engagement platform) and FactSet (a global financial digital platform and enterprise solutions provider) entered a strategic partnership to enhance the wealth management experience. Through the FactSet Workstation, advisors can now create and share CapIntel’s digital, compliant, and personalized proposals for a seamless workflow and user experience.

Realta Wealth: Paul Tyler Named As SVP And Director Of Business Development

By Amit Chowdhry ● Oct 14, 2024

Independent wealth management firm Realta Wealth announced Paul Tyler has joined as Senior Vice President, Director of Business Development. Reporting directly to CEO Kevin Keefe, Tyler will spearhead national recruiting efforts for the firm that will focus on recruiting accomplished financial professionals currently affiliated with the largest independent platforms in the industry seeking affiliation with a firm offering a true boutique culture and bespoke service model.

Blue Owl Capital Buying IPI Partners For $1 Billion

By Amit Chowdhry ● Oct 14, 2024

Leading alternative asset manager Blue Owl Capital announced it has entered into a definitive agreement to acquire the business of digital infrastructure fund manager IPI Partners from an affiliate of ICONIQ Capital and an affiliate of Iron Point Partners for a purchase price of about $1 billion.

BlackRock Now Managing Record $11.5 Trillion Of Assets

By Amit Chowdhry ● Oct 11, 2024

BlackRock announced it reported a record $11.5 trillion of assets under management (AUM) for the third quarter. This is up from $9.1 trillion one year ago and $10.6 trillion in the last quarter.

Perigon Wealth Management Makes Changes To Leadership Team

By Amit Chowdhry ● Oct 10, 2024

Perigon Wealth Management - a rapidly growing independent wealth management firm with offices across the country and about $8.2 billion in client assets as of June 30, 2024 - announced it welcomed three key hires to support its continued expansion through organic growth and acquisitions.

Clara Capital: $20 Million Line Of Credit Signed With Revere Capital

By Amit Chowdhry ● Oct 8, 2024

Clara Capital Servicing - a leading provider of innovative financial lending solutions for small and medium sized businesses - announced the closing of a $20 million line of credit with Revere Capital, a renowned private lending firm.

Orion Reveals Capital Group ETF Model Portfolio Suite

By Amit Chowdhry ● Oct 8, 2024

Orion, a premier provider of transformative wealth tech solutions for fiduciary advisors, announced the launch of a new suite of ETF portfolios utilizing Capital Group ETFs. Capital Group is home to American Funds. These portfolios, managed by Brinker Capital, are available exclusively on the Orion Portfolio Solutions (OPS) and Brinker platforms.

Kovitz Onboards $5.9 Billion Fort Pitt Capital Team

By Amit Chowdhry ● Oct 6, 2024

Focus Financial Partners—a leading partnership of fiduciary wealth management firms and related financial services firms—announced that it has entered into a definitive agreement under which Pittsburgh-based Focus partner Fort Pitt Capital Group will join fellow Focus firm Kovitz Investment Group Partners. This deal is expected to close in Q4 of 2024, subject to customary closing conditions.

Perigon Wealth Management Brings In 3 Key Hires

By Amit Chowdhry ● Oct 6, 2024

Perigon Wealth Management - a growing independent wealth management firm with offices across the country and about $8.2 billion in client assets as of June 30, 2024 - announced it brought in three key hires to support its continued expansion through organic growth and acquisitions.

LPL Onboards $2.1 Billion Noble Group Team

By Amit Chowdhry ● Oct 6, 2024

LPL Financial announced that the advisors at The Noble Group have joined LPL Financial’s broker-dealer, RIA, and custodial platforms. They reported having served about $2.1 billion in advisory, brokerage, and retirement plan assets and joined LPL from Raymond James.

Mercer Advisors Onboards $523 Million KWAG Team

By Amit Chowdhry ● Oct 6, 2024

Mercer Global Advisors, a national Registered Investment Adviser (RIA), announced the acquisition of Kiely Wealth Advisory Group (KWAG) of North Carolina.

Beacon Pointe Assets Under Advisement Nears $37 Billion Through Latest Acquisitions

By Amit Chowdhry ● Oct 6, 2024

Beacon Pointe Advisors has revealed its latest acquisitions of Bridge Advisory with offices in Pasadena, CA, and Newport Beach, CA, and Charleston Investment Advisors in Mt. Pleasant, SC. Bridge Advisory oversees approximately $460 million, and Charleston Investment Advisors manages $140 million in client assets. This brings Beacon Pointe’s total assets under advisement to just under $37 billion, resulting in four total RIA transactions in 2024 so far.

LPL: Rich Steinmeier Named As Interim CEO Following Termination Of Dan Arnold

By Amit Chowdhry ● Oct 6, 2024

LPL Financial announced that the Board of Directors has terminated the company’s President and Chief Executive Officer, Dan H. Arnold, effective immediately for violating LPL’s commitment to a respectful workplace. He has also resigned from the Board. The Board appointed Rich Steinmeier, currently the company’s Managing Director, Chief Growth Officer, as Interim CEO, also effective immediately.

Wealth Enhancement Group Acquires $2.39 Billion FinTrust Capital Team

By Amit Chowdhry ● Oct 4, 2024

Wealth Enhancement Group (a national independent wealth management firm with over $94.7 billion in client assets) announced the acquisition of FinTrust Capital Advisors, which is a hybrid RIA headquartered in Greenville, South Carolina, with additional office locations in Anderson, South Carolina, and Athens, Georgia. This team of 14 advisors and 13 support staff oversees more than $2.39 billion in client assets and is led by Chief Investment Officer Allen Gillespie, CFA.

Altium Wealth Management Partnering With Kimberly Clouse To Deliver Custom Services

By Amit Chowdhry ● Oct 4, 2024

Hightower announced that it facilitated a partnership between Altium Wealth Management, its associated team with offices in New York and Connecticut, and Kimberly Clouse, an established family wealth advisor in the Boston area. Together, they enhance their abilities to deliver customized wealth advisory services to a high-net-worth clientele nationwide.

Idea Financial Raises $50 Million Warehouse Facility

By Amit Chowdhry ● Oct 4, 2024

Idea Financial, a leading provider of small business lines of credit, announced the closing of a new $50 million warehouse facility led by Performance Trust Capital Partners. This move significantly enhances Idea Financials' lending capacity and allows the company to increase its maximum loan limit to $350,000 for well-established small businesses.

Meketa Investment Group: $2 Trillion In AUA Surpassed

By Amit Chowdhry ● Oct 3, 2024

Meketa Investment Group - a global investment consulting and fiduciary management (OCIO) firm - announced the firm recently crossed $2 trillion in assets under advisement, serving over 250 clients. To support new client growth, the firm has added two consultants. Steve Voss joined the firm as a shareholder, managing principal, and consultant.

Dynasty Financial: $700 Million MATAURO Team Onboarded With Independence

By Amit Chowdhry ● Oct 3, 2024

Dynasty Financial Partners announced that MATAURO has joined its high-quality platform of technology-driven independent wealth management tools and services. With independence, MATAURO can offer tailored advice and strategies aligning with each client’s financial goals.

Raymond James Brings In $130 Million The Woodlands-Based Financial Advisor

By Amit Chowdhry ● Oct 2, 2024

Edward Sudzina, Western Gulf regional director for Raymond James & Associates (RJA), has welcomed financial advisor Miguel Velázquez to the firm's employee advisor channel in The Woodlands, Texas.

MAI Capital Management Onboards $238 Million Bolan Team

By Amit Chowdhry ● Oct 2, 2024

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

White Oak Commercial Finance: $120 Million Secured Credit Facility Raised

By Amit Chowdhry ● Oct 1, 2024

White Oak Commercial Finance (an affiliate of White Oak Global Advisors) announced it closed a new $120 million 3-year Senior Secured Credit Facility with Sauder Woodworking, a Midwest-based manufacturer and distributor of ready-to-assemble furniture and custom manufacturing furniture solutions with operations throughout the United States and Canada, acting as sole arranger and book runner.

Salute Raises Majority Investment From New Mountain Capital

By Amit Chowdhry ● Oct 1, 2024

Salute Holdings, a leading provider of integrated asset management services for the data center industry, announced it raised a majority investment from funds managed by New Mountain Capital, a leading growth-oriented alternative investment firm based in New York. Current investor LLR Partners will maintain a significant minority investment in the company.