Asset Management

Raymond James Welcomes $165 Million Advisory Team

By Amit Chowdhry ● Sep 2, 2024

Raymond James’ senior vice president and FID national director of the Financial Institutions Division (FID), Stephen Kruchten, announced that the firm has welcomed the wealth advisory team of Security Wealth Management (based at Security Savings Bank) to the FID. With this new alignment, the group will offer its clients investment and wealth management services through Raymond James Financial Services.

CW Advisors Adds $1.2 Billion Agili Team

By Amit Chowdhry ● Sep 2, 2024

CW Advisors - a registered investment advisor (RIA) based in Boston - announced it has partnered with Agili, an independent, fee-only firm that blends financial planning, investment strategy, and strategic services. This deal adds $1.2 billion of assets under management to CWA.

LPL Brings In $375 Million 4Point Wealth Management Team

By Amit Chowdhry ● Sep 2, 2024

LPL Financial announced that financial advisors Christina McConnell, CRC, ADPA, Laura Long, CRPC, AWMA, MBA, and Jay Tillman, CPWA, CIMA, CFP, RICP, CLU, have joined LPL Financial’s supported independence model, LPL Strategic Wealth Services (SW). The team has reported having served approximately $375 million in advisory, brokerage and retirement plan assets and joins LPL from Wells Fargo Financial Advisors Network (FiNet).

Ameriprise: $120+ Million FA Karen DeBaker Joins

By Amit Chowdhry ● Sep 2, 2024

Ameriprise Financial announced that financial advisor Karen DeBaker, CFP has joined the well-established independent Ameriprise practice Threshold Financial Partners. This team is based in De Pere, Wisconsin, and led by financial advisor Carey Somerville. DeBaker brings ten years of experience as a financial advisor, most recently with Raymond James, and more than $120 million in client assets.

Conway And Opto Partner On Providing RIAs With Institutional-Grade Private Markets Custom Funds

By Amit Chowdhry ● Aug 27, 2024

Conway Investment Solutions (a collaborative investment solutions partner for financial advisors) recently announced a strategic partnership with Opto Investments (a technology-enabled solution expanding private markets access for independent investment advisors).

Avantax Brings In $60 Million Advisor Ali Kazemi

By Amit Chowdhry ● Aug 27, 2024

Avantax - a unique community within Cetera Holdings and a leader in tax-focused financial planning and wealth management - announced it has welcomed financial advisor Ali Kazemi, who is a seasoned professional with over 30 years of financial services experience.

TCW: Second CLO Closed This Year At $400 Million

By Amit Chowdhry ● Aug 26, 2024

The TCW Group, a leading global asset management company, announced that it has closed its second $400 million Collateralized Loan Obligation (CLO) fund this year, TCW CLO 2024-2. This fund is secured primarily by broadly syndicated first-lien loans. This closing adds to TCW’s strong, continued growth in alternative credit assets, which have doubled since 2020.

Magnetar: Alternative Asset Manager Raises $235 Million For AI Fund

By Amit Chowdhry ● Aug 26, 2024

Leading alternative asset manager Magnetar announced the closing of Magnetar AI Ventures Fund LP - which is a $235 million venture fund that invests in early-to-growth stage companies advancing the generative AI revolution. This fund builds on Magnetar’s history of investing opportunistically across the private-public continuum and serving as a long-term partner to portfolio companies.

Rise Growth Reveals Inaugural Strategic Minority Investment In Bleakley Financial

By Amit Chowdhry ● Aug 23, 2024

Rise Growth Partners, a wealth management industry’s first synergistic financial partner for growth-oriented registered investment advisors (RIAs), announced an inaugural strategic minority investment in Bleakley Financial Group.

NewEdge Capital: About $5.5 Billion In Expected Assets Recruited In First Half Of 2024

By Amit Chowdhry ● Aug 22, 2024

NewEdge Capital Group, a leading and rapidly growing wealth management firm supporting successful financial advisors nationwide, announced that successful organic growth and recruiting efforts have put the firm on pace for another record year of growth. As of June 30, 2024, NewEdge Capital Group’s total client assets serviced are over $55 billion, with a substantial part of that figure coming from successful recruitment efforts.

RIA Crux Wealth Advisors Launches With First Tranche Of $1 Billion

By Amit Chowdhry ● Aug 22, 2024

Crux Wealth Advisors announced their official launch as a hybrid Registered Investment Adviser and full-service wealth management firm. After two years of due diligence and preparation, this now fully autonomous firm launched with its first tranche of $1 billion in client assets under management (AUM) in a planned multi-phase transition strategy to minimize client and business disruption while also allowing for equally as efficient transitions in the coming months.