Asset Management

GTCR To Buy Wealth Management Tech Platform AssetMark For $2.7 Billion

By Amit Chowdhry ● Apr 27, 2024

AssetMark Financial Holdings (a leading wealth management technology platform for financial advisors) announced that it has signed a definitive agreement to be acquired by GTCR (a leading private equity firm with expertise in financial technology, wealth, and asset management). AssetMark stockholders will receive $35.25 per share in cash, representing a total equity valuation of about $2.7 billion. Under the terms of the deal, GTCR will buy a 100% interest in the company.

Ritholtz Wealth Management Pushes For Expansion With New Manhattan Beach Office

By Amit Chowdhry ● Apr 26, 2024

Ritholtz Wealth Management (RWM), a national RIA overseeing over $4 billion in assets for high-net-worth clients and institutions, announced opening a new office in the Manhattan Beach neighborhood of Los Angeles, California. Building on the recent opening of the firm’s Charlotte, North Carolina office, this expansion highlights the appeal of RWM’s sophisticated yet straightforward approach to financial planning and asset management.

LPL Brings In $800+ Million Heritage Private Wealth Team

By Amit Chowdhry ● Apr 26, 2024

LPL Financial announced that financial advisor Clayton Ortloff has launched a new independent practice called Heritage Private Wealth through affiliation with LPL Financial’s supported independence model LPL Strategic Wealth Services. And he reported having served about $800 million in advisory, brokerage and retirement plan assets and joins LPL from Merrill Lynch.

Wilmington Trust Reveals Global Capital Markets Team Additions

By Amit Chowdhry ● Apr 25, 2024

Wilmington Trust, a leader in corporate and institutional trust services, announced changes to its Global Capital Markets (GCM) leadership team. Susie Aliker will be welcomed as head of GCM Europe, and Alan Geraghty will be named head of GCM Global Product Management.

Epiris: Mike Ebeling Joins Senior Investment Team

By Amit Chowdhry ● Apr 25, 2024

Epiris has announced the appointment of Mike Ebeling as a partner on its investment team. Ebeling will join the firm’s executive and investment committees and work with Epiris’ investment team to deploy Epiris Fund III, which held its final close in February with total commitments of £1.044 billion. The fund's target was £850 million and oversubscribed at its hard cap.

Jolt Capital Names Zineb Semlali As Director of Investor Relations

By Amit Chowdhry ● Apr 25, 2024

Jolt Capital, a leading private equity firm specializing in European growth tech companies, announced the appointment of Zineb Semlali as Director of Investor Relations. Semlali will report to Chairman and Managing Partner Jean Schmitt and will actively participate in the company's fundraising efforts.

Homrich Berg: Andrew Page Named As Head of Corporate Development

By Amit Chowdhry ● Apr 25, 2024

Homrich Berg (HB), a leading Atlanta-based RIA serving families and investors from its offices in the Southeast, announced it is welcoming Andrew Page as Head of Corporate Development. HB launched this new position to add a leader utilizing Page’s dealmaking experience - signaling the $16 billion firm’s continuing focus on growth by acquisition.

Rockefeller Asset Management Brings In 3 Veteran Portfolio Managers

By Amit Chowdhry ● Apr 25, 2024

Rockefeller Asset Management, the asset management arm of Rockefeller Capital Management, announced it has added three high-yield and investment-grade municipal bond professionals, including Scott Cottier, Managing Director and Portfolio Manager; Mark DeMitry, Senior Vice President and Portfolio Manager; and Michael Camarella, Senior Vice President and Portfolio Manager.

Alpha Capital Family Offices: Tom Riley Hired To Lead Portfolio Management

By Amit Chowdhry ● Apr 25, 2024

Alpha Capital Family Offices (ACFO) announced that it has recruited industry veteran Tom Riley, CFA (Chartered Financial Analyst), to join and lead portfolio management at the firm.

EQT: Private Wealth Team Expanded With Hiring Of Peter Aliprantis

By Amit Chowdhry ● Apr 24, 2024

EQT announced the appointment of Peter Aliprantis as partner and head of EQT's fast-growing Private Wealth Management business in the Americas. Aliprantis will report to Peter Beske Nielsen, partner and global head of private wealth, based in EQT's New York office.

Silver Creek Capital: Nathan Kelso Named As Chief Technology Officer

By Amit Chowdhry ● Apr 24, 2024

Silver Creek Capital Management, an alternative investment boutique focused on building investment solutions for institutional and sophisticated investors globally, announced that Nathan Kelso has joined the firm as Chief Technology Officer. For over a decade, Kelso was Chief Information Security Officer of Research Affiliates, a leader in smart beta and asset allocation, and earlier worked in a senior information technology role at BlackRock.

The AmeriFlex Group Surpasses $11.5 Billion In Client Assets

By Amit Chowdhry ● Apr 23, 2024

The AmeriFlex Group, a rapidly growing, advisor-owned hybrid RIA that prioritizes financial planning, recently announced it has surpassed $11.5 billion in total client assets. For the first quarter alone, the firm grew its assets under administration (AUA) by 17%, representing $1.9 billion.

UBS Brings In Financial Advisor Team Headed By Christopher Toregas In LA

By Amit Chowdhry ● Apr 22, 2024

UBS Wealth Management USA announced that Christopher Toregas, CFP, has joined the firm as a Managing Director and Senior Portfolio Manager in the Century City office. Toregas and his team joined the firm’s Los Angeles Market, managed by Market Executive Lauren Gorsche and Market Director Kreg Pearless.

Apella Wealth: AUM Increased By $464 Million With ClearLogic Financial Addition

By Amit Chowdhry ● Apr 22, 2024

Apella Capital (DBA Apella Wealth), a financial advisory and wealth management firm serving individuals, families, and businesses, announced today that ClearLogic Financial, a registered investment advisor (RIA), has joined the firm. This acquisition establishes Apella’s presence in Reston, VA, and adds to its regional financial planning and investment management capabilities.

Cresset Brings In Two Advisory Teams That Managed About $5 Billion In AUM

By Amit Chowdhry ● Apr 21, 2024

Cresset announced that it has brought two new advisory teams to its San Francisco office. Previously with J.P. Morgan Wealth Management and First Republic Bank, the two teams comprise three lead advisors and 12 supporting financial professionals. The teams previously managed about $5 billion in assets for 160 client households.

UBS: James Herring And John Gaffney Join Private Wealth Management Team

By Amit Chowdhry ● Apr 21, 2024

UBS announced that Private Wealth Advisors James Herring and John Gaffney will join the New York City firm. And at the conclusion of their notice periods, Herring and Gaffney will join the UBS Manhattan Market. They will be based at the firm’s 299 Park Ave Private Wealth Management office, which Chris Amo and Bob Sorrentino manage.

Raymond James Brings In $130 Million Financial Advisor

By Amit Chowdhry ● Apr 20, 2024

Raymond James’ California regional director for the firm's employee advisor channel Raymond James & Associates (RJA ) John Simmons announced it has welcomed financial advisor Taimur "Tam" Baig to RJA in San Diego

Raymond James Adds $170 Million Financial Advisor Team In Indiana

By Amit Chowdhry ● Apr 20, 2024

Raymond James’ Midwest division director for the firm’s independent advisor channel Raymond James Financial Services (RJFS), David Sisemore, announced that the firm has recently welcomed financial advisors Jefferson Hankins, CFP, and Kurt Boggs, CFP, to RJFS. These advisors are founders of Hankins & Boggs Group, a Reynolds Wealth Management branch in Warsaw, Indiana.

TIFIN: Rob Pettman Named As Chief Revenue Officer And President

By Amit Chowdhry ● Apr 20, 2024

TIFIN, a leading AI and innovation platform for wealth, announced the appointment of Rob Pettman as its Chief Revenue Officer and President. In this new role, Pettman will report directly to TIFIN's Founder and CEO, Dr. Vinay Nair.

Janney Brings In $600 Million Shore To Shore Private Wealth Team

By Amit Chowdhry ● Apr 20, 2024

Janney Montgomery Scott, a leading full-service wealth management, capital markets, and asset management firm, announced the addition of Shore to Shore Private Wealth in Lewes, Delaware. The Shore to Shore team is headed by Financial Advisor Michael Koppenhaver, Executive Vice President/Wealth Management. And he is joined by Account Executive Susan Damask, Senior Registered Client Relationship Associate Amy Gibson, and Private Client Associate April E. Smith. The team previously worked with Merrill Lynch.

LPL Brings In $170 Million Financial Advisor

By Amit Chowdhry ● Apr 20, 2024

LPL Financial announced that financial advisor Philip Nation, CFP, ChFC, CLU, has joined its broker-dealer, RIA, and custodial platforms, aligned with existing firm Founders Financial Alliance. He reported serving about $170 million in advisory, brokerage, and retirement plan assets and joined LPL from Ameriprise Financial.

Keebeck Wealth Management: An Interview With Founder And CEO Bruce K. Lee On Redefining The Investment Landscape

By Amit Chowdhry ● Apr 17, 2024

Keebeck Wealth Management is a registered independent advisory firm (RIA) focused on working with corporate executives, private business owners, entrepreneurs, & their multi-generational families. And Pulse 2.0 interviewed Keebeck Wealth Management founder and CEO Bruce K. Lee to learn more about the firm.

Modern Wealth Management Names Jason Del Col As Head of Advisory Services

By Amit Chowdhry ● Apr 16, 2024

Modern Wealth Management, a registered investment adviser (RIA) focused on meeting the evolving needs of wealth management firms, advisors, and their clients that recently surpassed over $3 billion in AUM, announced the appointment of Jason Del Col as Head of Advisory Services. Del Col will become part of the Modern Wealth executive team to lead the firm’s advisory services platform and manage its strategic evolution. Modern Wealth’s service model was built to provide clients with financial, tax, and retirement planning services and access to personalized wealth management solutions.

Compass Group Equity Partners: Fund III Closed At Hard Cap Of $408 Million

By Amit Chowdhry ● Apr 16, 2024

Compass Group Equity Partners, a St. Louis-based private equity firm, has closed Compass Group Fund III - hitting a hard cap of $408 million. This is Compass Group's second fundraising effort in the past two years and was achieved through a first and final closing this week after launching fundraising efforts late last year.

Diversify Advisor Network Brings In $645 Million Key Advisors Wealth Management Team

By Amit Chowdhry ● Apr 16, 2024

Diversify Advisor Network, an advisor-founded and advisor-led wealth management firm, announced that Key Advisors Wealth Management, a Delaware-based fee-only firm with $645 million in assets under management (AUM), is joining Diversify Wealth Management to take advantage of its Partner Platform affiliation model.

Arax Buying $9 Billion Wealth Manager U.S. Capital Wealth Advisors

By Amit Chowdhry ● Apr 16, 2024

Arax Investment Partners, a premier wealth management platform company backed by RedBird Capital Partners, announced the addition of U.S. Capital Wealth Advisors (USCWA), an independent Houston, Texas-based hybrid wealth management firm, manages about $9 billion in AUM/A across over 5,500 clients and 62 advisors.

Adams Street Partners: $1 Billion Raised For First Middle Market CLO

By Amit Chowdhry ● Apr 12, 2024

The Private Credit team of Adams Street Partners, a private markets investment firm with over $58 billion in assets under management, announced the final closing of a $1 billion middle market collateralized loan obligation (CLO), ASP Summa. And the CLO is a first for Adams Street and was structured in partnership with American Equity Investment Life Insurance Company, a leading issuer of fixed index annuities.

Wealth Enhancement Group Surpasses $81 Billion In Client Assets

By Amit Chowdhry ● Apr 11, 2024

Wealth Enhancement Group, a national independent wealth management firm, announced three key leadership appointments, continued growth in strategic markets, and the surpassing of $81 billion in client assets.

MG Partners Private Wealth Launched With Support From LPL

By Amit Chowdhry ● Apr 10, 2024

LPL Financial announced that financial advisors Christopher “Noah” Geoghegan, CTFA, and Tomohiko “Tom” Minami, CFP, CFA, launched a new independent practice called MG Partners Private Wealth through affiliation with LPL Financial’s supported independence model, LPL Strategic Wealth Services. They reported having served about $435 million in advisory, brokerage, and retirement plan assets and joined LPL from Truist.

Sequoia Financial Group Buys AltruVista

By Amit Chowdhry ● Apr 10, 2024

Sequoia Financial Group, a leading SEC-registered wealth manager with over $18 billion in assets under management as of March 31, 2024, announced it had acquired AltruVista, an SEC-registered investment advisor offering independent and holistic financial planning and asset management services to high-net-worth clients. The financial terms were not disclosed.