Asset Management

Miravast Closes $346 Million For Second Flagship Fund

By Amit Chowdhry ● Jul 21, 2024

Miravast Asset Management, a leading vertically integrated investment manager with deep experience underwriting longevity risk and investing in life settlements, announced that it recently completed fundraising for Miravast ILS Credit Opportunities II LP (Fund II) with $346 million of fund commitments.

Star Mountain Capital: Curtis Glovier Named As Managing Director And Strategic Portfolio Officer

By Amit Chowdhry ● Jul 19, 2024

Star Mountain Capital, a specialized investment manager with over $4 billion in assets under management (AUM) focused on generating premium yield and total returns from the less efficient and resources-intensive market of U.S. private small and medium-sized businesses (SMBs), announced that Curtis Glovier has increased his involvement with Star Mountain from a Senior Advisor to a full-time role of Managing Director and Strategic Portfolio Officer.

Uptick Partners Launches With New $275 Million Financial Advisor

By Amit Chowdhry ● Jul 18, 2024

Uptick Partners - the Bridge Builder to Independence - announced the official launch of the firm’s RIA platform for advisors looking to break away from captive broker-dealers, with the arrival of the firm’s first breakaway advisor.

Farther: Wealth Management Firm Surpasses $3 Billion In AUM

By Amit Chowdhry ● Jul 17, 2024

Farther, a leading technology-centric wealth management firm, announced 32 new strategic hires and the firm’s AUM surpassed $3 billion. These new strategic hires strengthen Farther’s ability to deliver its first-of-its-kind wealth management approach that combines custom-built, world-class technology with the bespoke financial expertise of a traditional wealth advisor.

Wealth Enhancement Group Buys $123+ Million Hybrid RIA Peak Financial

By Amit Chowdhry ● Jul 17, 2024

Wealth Enhancement Group, a national independent wealth management firm with over $85.4 billion in client assets, announced it acquired Peak Financial Services, a hybrid RIA located in Northborough, Massachusetts. Peak Financial Services oversees more than $123 million in client assets and is led by Founder & President, Kevin O'Brien, CFP, AIF, CAP.

LPL Reveals New Team Additions: Danielle Qualls, First Summit, Zack Wealth, Countiss, Integrity, And Summit Planning

By Amit Chowdhry ● Jul 16, 2024

Over the last couple of weeks, LPL announced a number of team additions. These are the details.

Kingsview Partners Opens New Michigan Office With Wealth Managers | Partners Acquisition

By Amit Chowdhry ● Jul 16, 2024

Kingsview Partners announced that Wealth Managers | Partners Chris Kramer and Alan Gieleghem have officially joined Kingsview Partners in Rochester Hills, Michigan. With previous roles in the entertainment and education industries, the team has combined experience and credentials help them provide expertise for individuals, families, and businesses.

Commonwealth Financial Adds $300 Million Terramar Wealth Team

By Amit Chowdhry ● Jul 16, 2024

Commonwealth Financial Network, a national firm dedicated to providing financial advisors with holistic, integrated business solutions, announced that Terramar Wealth of Carlsbad, California, has joined its network of independent financial advisors. Previously with Osaic, the team reported serving over $300 million in client assets. The advisors include Mike Gallop, CFP, AIF, Danny McMahon, Steve Statzer, Steve Rubinstein, Greg Fox, Jeffrey Gardner, and Todd Oberlin, and are joined by Pat Posada, director of compliance.

Arkadios Capital Brings In $850 Million Advisory Group Gulf Coast Wealth Management

By Amit Chowdhry ● Jul 16, 2024

New Orleans-based Gulf Coast Wealth Management announced it has moved its $850 million in assets under advisement to Arkadios Capital, a fast-growing hybrid broker-dealer disrupting the financial services industry.

OIC: Growth Fund I Closed Above Target At $370 Million

By Amit Chowdhry ● Jul 16, 2024

Orion Infrastructure Capital (OIC), a US middle-market infrastructure manager, announced it has successfully concluded the fundraising of its inaugural Infrastructure Growth Fund. This fund raised over $370 million in commitments, surpassing the initial target size of $350 million.

BlackRock’s Assets Hit $10.65 Trillion

By Amit Chowdhry ● Jul 16, 2024

The assets managed by BlackRock has hit a record $10.65 trillion as of the second quarter due to an increase in client asset values. Investors also put in a significant amount of funds into the company’s exchange-traded funds (ETFs).

EP Wealth Advisors Acquiring $700 Million (AUM) Sloan Investment Management

By Amit Chowdhry ● Jul 16, 2024

EP Wealth Advisors - a leading independent registered investment adviser (RIA) with an expanding national presence and client base - announced the acquisition of Dallas-based Sloan Investment Management. This partnership adds about $700 million in assets under management (AUM), bringing EP Wealth’s total AUM in the Dallas region to over $1 billion, and $25.2 billion nationwide.

NewEdge Advisors Brings In $580 Million Dallas-Based Team Fortis Wealth

By Amit Chowdhry ● Jul 12, 2024

NewEdge Advisors (a leading New Orleans-based RIA) that is supporting successful independent financial advisors nationwide announced that Dallas-based team Fortis Wealth Advisors has joined the firm from J.P. Morgan Securities, where they were overseeing approximately $580 million in client assets.

Perigon Wealth Management Acquires $150 Million Firm Creative Financial Planning

By Amit Chowdhry ● Jul 12, 2024

Perigon Wealth Management - a rapidly growing independent wealth management firm with offices across the country and about $7.75 billion as of March 31, 2024 - in client assets, today announced the acquisition of Creative Financial Planning Inc. of New York, a firm with approximately $150 million in assets under management (AUM). Terms were not disclosed.

Star Mountain Capital Names Charles Millard As Senior Advisor

By Amit Chowdhry ● Jul 10, 2024

Star Mountain Capital, a specialized investment manager with over $4 billion in assets under management focused on generating defensive and premium yield and total returns from the less efficient and resources-intensive market of U.S. private small and medium-sized businesses, announced that Charles Millard has joined as Senior Advisor.

Americana Partners Expands Into LatAm Market

By Amit Chowdhry ● Jul 10, 2024

Americana Partners, an independent registered investment advisor (RIA) with $7+ billion in assets under management, announced its expansion into the Latin American market with the launch of Americana Partners International, dedicated to providing family office services to ultra-high net-worth individuals in the region.

First Foundation: $228 Million Equity Investment Closed

By Amit Chowdhry ● Jul 9, 2024

First Foundation announced today the closing of its individual investments aggregating to $228 million in the company from affiliates of Fortress Investment Group, Canyon Partners, Strategic Value Bank Partners, North Reef Capital, and other investors.

Raymond James Brings In $1.3 Billion Las Vegas-Based Advisor Team

By Amit Chowdhry ● Jul 6, 2024

Rick Sanchez, West Coast regional director for Raymond James & Associates (RJA), announced that the firm has brought in a team of seven financial advisors to the firm in Las Vegas. This team includes financial advisors Nick Takahashi, CRPC, James Zapotocky, Joshua Yocam, Luka Vasiljevic, Michael Ortega, Stephen Ellingsen and Sean Tsaconas, and senior client service associate Yalda Momeni.

Ameriprise Brings In $100+ Million Financial Advisor Team

By Amit Chowdhry ● Jul 3, 2024

Financial advisor Michael Cruz has recently joined the branch channel of Ameriprise Financial from Wells Fargo Clearing Services with $100 million in assets in Temecula, California.

Stifel: Jeff Markham Named As Managing Director

By Amit Chowdhry ● Jul 3, 2024

Stifel Financial announced that veteran wealth management executive Jeff Markham has joined the firm’s Stifel, Nicolaus & Company broker-dealer subsidiary as Managing Director.

Raymond James Absorbs $250 Million Central Florida-Based Veteran Advisor Team

By Amit Chowdhry ● Jul 2, 2024

Raymond James announced it welcomed financial advisor Anthony Losh, CFP, CRPCTM, CRPSTM, to the firm's employee advisor channel Raymond James & Associates (RJA) in Stuart, Florida. This was revealed by Tom Walrond, Eastern division director for RJA.

LPL Brings In $160 Million Virginia-Based Advisory Team

By Amit Chowdhry ● Jul 2, 2024

LPL Financial announced that financial advisor W. Scott Hengerer, CMFC, CRPC, has joined LPL Financial’s broker-dealer, RIA and custodial platforms to launch a new independent practice called James River Private Wealth. And he reported serving approximately $160 million in advisory, brokerage and retirement plan assets and joins LPL from Ameriprise.

AssetMark Buying $12 Billion In Assets From Morningstar Wealth

By Amit Chowdhry ● Jul 2, 2024

Wealth management platform AssetMark (a wholly owned subsidiary of AssetMark Financial Holdings and a Registered Investment Adviser) announced a strategic alliance with Morningstar Wealth (a division of independent investing insights firm Morningstar).

Baldwin Brothers Buys Assets Of KLR Investment Advisors

By Amit Chowdhry ● Jul 2, 2024

Baldwin Brothers, a fifty-year legacy wealth and investment management firm based in southeastern Massachusetts with just under $2.3 billion of assets under management, announced the acquisition of the assets of KLR Investment Advisors, an elite wealth management firm based out of Providence, Rhode Island.

PPM America: Thirteenth CLO Closed At $401 Million

By Amit Chowdhry ● Jun 30, 2024

PPM America announced the closing of PPM CLO 7 Ltd. (CLO 7). And CLO 7 has 16 unique investors, seven of which are new to PPM, and a deal size of $401 million. It is PPM’s seventh CLO closed since the firm re-entered the CLO market in 2018 and the thirteenth CLO closed in the firm’s history.

H.I.G. Capital: $1.3 Billion Raised For Infrastructure Fund

By Amit Chowdhry ● Jun 28, 2024

H.I.G. Capital, a global alternative asset management firm with $64 billion of capital under management, announced the closing of H.I.G. Infrastructure Partners. This fund closed with aggregate capital commitments of approximately $1.3 billion.

HPS Investment Partners: Over $21 Billion Raised For Specialty Loan Fund VI

By Amit Chowdhry ● Jun 26, 2024

HPS Investment Partners, a leading global credit investment firm with about $114 billion of assets under management (AUM), announced the final close of Specialty Loan Fund VI (SLF VI), with $21.1 billion in investable capital.

Allworth Financial Acquires $220 Million Del Monte Group

By Amit Chowdhry ● Jun 24, 2024

Allworth Financial announced it has acquired Northern California-based Del Monte Group - which brings the firm to 18 California locations and 42 offices nationwide. The financial terms of the agreement were not disclosed.

Wealth Enhancement Group Acquires $219 Million RIA Atlas Fiduciary Financial

By Amit Chowdhry ● Jun 24, 2024

Wealth Enhancement Group, a national independent wealth management firm with $85 billion in client assets, announced it acquired Atlas Fiduciary Financial, an independent RIA with two offices in Sarasota, Florida and Oakland, New Jersey.

NewEdge Advisors Brings In $540 Million RIA Team Stonebridge Financial Partners Of Michigan

By Amit Chowdhry ● Jun 24, 2024

NewEdge Advisors, a leading New Orleans-based RIA supporting successful independent financial advisors nationwide, announced that Stonebridge Financial Partners, a Michigan-based team, has joined the firm from Carson Wealth where they were overseeing approximately $540 million in client assets.