Asset Management

Mariner Acquires Atlas Financial And Newport Advisory, Adding $878 Million More In AUM

By Amit Chowdhry ● Dec 16, 2024

Leading national financial services firm Mariner announced it has acquired Sarasota, Florida-based Atlas Financial and Newport Beach, California-based Newport Advisory in a pair of deals that will bring the firm a combined total of about $878 million in assets under management.

Concurrent Brings In 6 New Advisors, Reaching $9.7 Billion In AUM

By Amit Chowdhry ● Dec 16, 2024

Concurrent Investment Advisors, a leading multi-custodial hybrid registered investment adviser (RIA), announced it reached $9.7 billion in assets under management with the addition of six new advisors and additional support staff.

Summit Financial Onboards $550 Million Midway Wealth Partners Team

By Amit Chowdhry ● Dec 15, 2024

Summit Financial, an investment advisory firm with over 40 years of experience providing market-leading, multi-family office services that empower financial advisors to accelerate growth, announced that Midway Wealth Partners has joined its network. Summit’s partnership model, Summit Growth Partners (SGP), has strategically invested in Midway, bringing its total strategic investments to 17 for the year.

New York Life Investments Buying Stake In $4.5 Billion European PE Firm Andera Partners

By Amit Chowdhry ● Dec 15, 2024

New York Life Investments, Candriam and Andera Partners announced plans to enter into a strategic partnership where New York Life Investments, a diversified, global asset management firm with $750 billion in assets under management (AUM), will acquire – through its global affiliate network – a 40% minority equity interest in Andera.

Commonwealth Financial Brings In $300 Million FA Douglas Perry

By Amit Chowdhry ● Dec 15, 2024

Commonwealth Financial Group - a MassMutual firm serving New England - announced it has welcomed Douglas Perry and his accomplished team to its growing network. Formerly with BMO Investments in Portland, Oregon, Perry reported having served over $300 million in client assets, earning a reputation for his comprehensive and client-centric wealth management strategies. The team includes Caroline Perry, Vice President of Operations, and Megan Waters, Client Services Director. Together, they will operate under the newly established Stafford Wealth Advisors.

Raymond James Financial Onboards $400 Million Advisor Darren Wright

By Amit Chowdhry ● Dec 13, 2024

Raymond James Financial Institutions Division (FID) recently brought in Darren Wright, CFA, MBA, as a Corporate RIA-affiliated financial advisor to First Mid Wealth Strategies (FMWS), located at First Mid Bancshares as announced by Stephen Kruchten, senior vice president and FID national director.

Cetera Brings In $465 Million First Citizens State Bank Team

By Amit Chowdhry ● Dec 13, 2024

Cetera Financial Group announced that First Citizens State Bank has entered into a network agreement with Cetera Financial Institutions to support and grow its investment program, First Citizens Investment Services.

F2 Strategy: Ryan Beach Named As CEO

By Amit Chowdhry ● Dec 10, 2024

F2 Strategy - a leading wealth management technology and marketing services consultancy - announced the appointment of industry veteran Ryan Beach as chief executive officer. And the recruitment of Beach represents the latest in a series of strategic personnel additions that include Laura Korbel as president and Jay Halbert as chief financial officer.

Copia Acquiring Wealth Manager Relationship App Company Kinship

By Amit Chowdhry ● Dec 10, 2024

Copia Wealth Studios - an intelligence platform providing insights on over $30 billion in assets - announced the acquisition of Kinship, a relationship management app for wealth managers, marking a significant step toward creating the first comprehensive operating system for asset owners and their managers.

Raymond James Onboards $200 Million Father-Son Advisor Team

By Amit Chowdhry ● Dec 10, 2024

Dominic Prioli, Upper Midwest regional director of Raymond James & Associates (RJA), announced it recently welcomed financial advisors Thomas Grobbel and John Grobbel to RJA in Bloomfield Hills, Michigan.

LPL Brings In $550 Million Frontline Investment Team

By Amit Chowdhry ● Dec 10, 2024

LPL Financial announced that financial advisors Amanda Miller, Devin Richard, and Jonathan Vila, CRPC, of Frontline Investment Advisors have joined LPL Financial’s broker-dealer, aligned with existing firm GradePoint Financial. They reported having served approximately $550 million in advisory, brokerage, and retirement plan assets and joined LPL from VALIC Financial Advisors, the broker-dealer for AIG Retirement Services.

Obra Capital: First CLO Offering Closed For $403.75 Million

By Amit Chowdhry ● Dec 9, 2024

Obra Capital, an asset management firm with a specialized approach to alternative investing, announced the final closing of its inaugural Collateralized Loan Obligation offering (CLO). Obra CLO 1 - at over $400 million in size, further diversifies Obra’s strategies in alternative assets and structured credit and underscores its ongoing commitment of providing various strategies aimed at delivering long-term value for investors.

Mariner Adding $878 Million In AUM Through Acquisitions

By Amit Chowdhry ● Dec 9, 2024

BridgePort Financial: Nikki Bell Named As SVP Of Operations And Service

By Amit Chowdhry ● Dec 9, 2024

Nikki Bell has been hired as Senior Vice President of Operations and Service at BridgePort Financial Solutions, a registered investment advisor (RIA) firm serving fee-only independent advisors with a range of holistic solutions. Reporting to Managing Director Eddie Rollins, Bell will be managing the firm's operational functions, with a focus on streamlining BridgePort's advisory platform. And he will also work closely with BridgePort leaders to drive the development and implementation of new platforms and offerings to further support the firm's expanding network of fee-only advisors.

Eldridge Industries Launching Asset Management And Insurance Holding Firm

By Amit Chowdhry ● Dec 9, 2024

Eldridge Industries announced it is launching Eldridge, an asset management and insurance holding company with approximately $74 billion in assets under management. And Eldridge will be wholly owned by Eldridge Industries and consist of two divisions: Eldridge Capital Management and Eldridge Wealth Solutions.

Orion: Chris Shutler Named As Head Of Strategy

By Amit Chowdhry ● Dec 9, 2024

Orion, a transformative wealthtech solutions providor for financial advisors and the enterprise firms that serve them, announced the appointment of Chris Shutler, CFA, as Head of Strategy.

Concurrent Investment Advisors Reaches $9.7 Billion In Assets Under Management

By Amit Chowdhry ● Dec 9, 2024

Concurrent Investment Advisors - a leading multi-custodial hybrid registered investment adviser (RIA) - announced it has reached $9.7 billion in assets under management with the addition of six new advisors and additional support staff.

Allworth Financial Onboards $500 Million Ryan Wealth Management Team

By Amit Chowdhry ● Dec 8, 2024

Allworth Financial announced the acquisition of Ryan Wealth Management, an RIA firm with offices in Yuba City, California, and Spokane, Washington. This partnership strengthens Allworth’s presence in the California and Pacific Northwest markets while further expanding the firm’s expertise in retirement and investment advisory services.

Why SageView Is Buying $400 Million Retirement Plan Consulting Company OnTrack 401(k)

By Amit Chowdhry ● Dec 8, 2024

SageView Advisory Group—one of the nation's leading independent RIA firms—announced it has acquired OnTrack 401(k) of Frederick, Maryland. OnTrack 401(k), which has $400 million in Assets Under Advice (AUA), provides retirement plan consulting services to over 90 institutions.

Mubadala Capital Committing Over $1 Billion To Silver Rock’s Funds

By Amit Chowdhry ● Dec 8, 2024

Mubadala Capital - the alternative asset management subsidiary of Mubadala Investment Company - announced that it has entered into a strategic partnership with Silver Rock, a credit asset manager with over $10 billion in assets under management (AUM). Under this deal, Mubadala Capital will acquire a 42% stake in Silver Rock Financial LP through a combination of cash and stock, with an option that could take Mubadala Capital's ownership to 50% over time.

Voya Partnering With Orion On Launching Technology Platform For Financial Pros

By Amit Chowdhry ● Dec 6, 2024

Voya Financial announced it is collaborating with Orion, a provider of transformative wealth-tech solutions for financial professionals, to launch a new and enhanced technology platform for its Voya Financial Advisors (VFA) business. And Voya WealthPath will offer VFA’s financial professionals an integrated experience of holistic in-plan, retail, and advisory solutions like financial planning and client relationship management tools.

Avantax Onboards $143 Million FA Andrew Erickson

By Amit Chowdhry ● Dec 5, 2024

Avantax - a unique community within Cetera Holdings and a leader in tax-focused financial planning and wealth management - announced it welcomed independent financial advisor Andrew Erickson, CFP CEPA, founder of ClearGuide Wealth. Based in the Chicagoland area, Erickson transferred to Avantax after eight years with Edward Jones, where he had approximately $143 million in client assets under administration as of July 30, 2024.