Asset Management

Corient Acquires Multi-Family Office Business Of Geller & Company

By Amit Chowdhry ● Jan 25, 2025

Corient, one of the largest and fastest-growing national wealth advisors in the U.S., announced it acquired the multi-family office business of Geller & Company (Geller MFO). And Geller MFO is a premier New York City-based multi-family office with $10.4 billion in assets under management and advisement. This move reinforces Corient’s presence in one of the nation’s largest markets and deepens the firm’s family office capabilities.

Integrated Partners Expanding West Coast Presence With Addition Of RetirementDNA

By Amit Chowdhry ● Jan 25, 2025

Integrated Partners, a national financial planning and registered investment advisory (RIA) firm serving over $20 billion in assets under advisement (AUA), announced San Diego-based RetirementDNA as the latest advisory team to join its network. This deal marks a significant expansion of both firms' capabilities in retirement plan services and wealth management.

LPL Financial Onboards $430 Million Advisors Larry Forlenza And Carl Hanks

By Amit Chowdhry ● Jan 24, 2025

LPL Financial announced that financial advisors Larry Forlenza, CRPC, and Carl Hanks, CRPC, have joined LPL Financial’s broker-dealer, RIA and custodial platforms. And they reported serving about $430 million in advisory, brokerage and retirement plan assets and join LPL from Raymond James Financial Services.

Raymond James Onboards $500 Million Financial Advisor Kristin Sullivan

By Amit Chowdhry ● Jan 23, 2025

Raymond James announced it recently welcomed financial advisor Kristin Sullivan, CWS, MBA, to Raymond James Financial Services (RJFS) – which is the firm’s independent advisor channel – according to Sanjiv Shukla, Western assistant division director for RJFS.

LPL Onboards $340 Million Advisor Marcus Alexander

By Amit Chowdhry ● Jan 22, 2025

LPL Financial announced that financial advisor Marcus Alexander, CPFA, MBA, has joined LPL’s employee advisor channel, Linsco by LPL Financial, to launch Alexander Wealth Solutions. He reported serving approximately $340 million in advisory, brokerage, and retirement plan assets and joined LPL from Merrill Lynch. He will serve clients from LPL’s newest Linsco office in Newport Beach, California.

AllianzGI: €1.5 Billion Raised For Secondary Private Credit

By Amit Chowdhry ● Jan 21, 2025

Allianz announced that the Allianz Private Debt Secondaries Fund (APDS) held the final close at €1.5 billion, including related transaction vehicles. And the APDS enables institutional clients to invest in secondary opportunities targeting the US, Europe, and Asia. The launch of the successor strategy is planned for the middle of this year.

Ares Management: €30 Billion Raised For European Direct Lending Strategy

By Amit Chowdhry ● Jan 21, 2025

Ares Management, a leading global alternative investment manager, announced the final closing of its sixth commingled European direct lending fund, Ares Capital Europe VI (ACE VI). And with total commitments of €17.1 billion, the fund closed above its €15 billion target and reached its hard cap. Ares believes ACE VI is the largest institutional fund in the global direct lending market based on LP equity commitments.

Elevation Point Invests In Michigan-Based $750 Million AUM Firm Stonebrook Private

By Amit Chowdhry ● Jan 21, 2025

Elevation Point, a growth accelerator and minority stake partner for independent advisors and breakaway firms announced its strategic investment in Stonebrook Private, based in Northville, Michigan.

Homrich Berg Closes $6.4 Billion RIA WMS Partners Acquisition

By Amit Chowdhry ● Jan 20, 2025

HB Wealth Management (HB), a leading Atlanta-based fee-only wealth advisor, announced the closing of its acquisition of WMS Partners (WMS), a $6.4 billion AUM RIA headquartered in Towson, Maryland. This strategic deal enhances HB’s family office service offerings, strengthens its presence in the mid-Atlantic region, and positions the combined firm to better serve ultra-high-net-worth families across the U.S.

iCapital To Buy Parallel Markets To Advance Financial Identity Platform

By Amit Chowdhry ● Jan 20, 2025

iCapital (a fintech platform driving the world’s alternative investment marketplace for the wealth and asset management industries) and Parallel Markets (a leader in reusable financial identity, providing a scalable, end-to-end solution for investor onboarding, verification, and monitoring) announced they have entered a definitive agreement under which iCapital is expected to acquire Parallel Markets.

Waverly Advisors Buying Dickinson Investment Advisors

By Amit Chowdhry ● Jan 20, 2025

Waverly Advisors - a federally registered investment adviser (RIA) specializing in investment management, financial planning and wealth management solutions for a diverse group of high-net-worth individuals, corporate retirement plans and institutional clients, announced it has acquired Dickinson Investment Advisors, an investment advisory firm in Council Bluffs, Iowa. This partnership expands Waverly's reach into new markets across Iowa.

Cetera Brings In Advisors With $255 Million In Combined AUA: Jennifer Read and Terri Steele

By Amit Chowdhry ● Jan 20, 2025

Financial advisor firm Cetera Financial Group recently announced that advisors Jennifer Read, Terri Steele, and their team have joined Cetera Advisors. Read, Steele and their team, who have a combined $255 million in assets under administration as of September 1, 2024, are joining Cetera from Osaic. Read and Steele decided to make the switch to Cetera to enjoy increased flexibility to work together.

Kestra Financial: John Amore Promoted To President

By Amit Chowdhry ● Jan 17, 2025

Wealth management platform company Kestra Financial announced that John Amore, the current head of wealth management, will assume the role of Kestra Financial president effective the beginning of April 2025. And Stephen Langlois, the current president of Kestra Financial, will retire at the end of 2025. Langlois will remain on staff as a senior advisor through the end of the year while ensuring a smooth transition.

Platform Partners: $180 Million Of Follow-On Equity Capital Commitments Raised

By Amit Chowdhry ● Jan 17, 2025

Platform Partners, a private investment company founded in 2006, announced it closed on $180 million of follow-on equity capital commitments to its perpetual investment vehicle, Platform Partners Investment Company. And Platform exceeded its original target with commitments from both existing and a select group of new shareholders, bringing total assets under management to approximately $800 million.

Janus Henderson: Kelly Cavagnaro Named As Head Of North America Institutional

By Amit Chowdhry ● Jan 17, 2025

Janus Henderson Investors announced the appointment of Kelly Cavagnaro as Head of North America Institutional within its North America Client Group, effective immediately. Cavagnaro will focus on expanding the firm’s institutional presence in North America by bringing the breadth and depth of Janus Henderson’s investment and solutions expertise to bear in helping its clients define and achieve superior financial outcomes. Based in Boston, Cavagnaro will report to Michael Schweitzer, the firm’s Head of North America Client Group.

Schwab Asset Management Launching The Schwab Core Bond ETF

By Amit Chowdhry ● Jan 17, 2025

Schwab Asset Management, the asset management arm of The Charles Schwab Corporation, announced launching the Schwab Core Bond ETF (Trading under SCCR on the NYSE Arca). This is the business’s second actively managed fixed-income ETF after the launch in August 2024 of the Schwab Ultra-Short Income ETF (Trading under SCUS on the NYSE Arca). The first day of SCCR trading is expected to be on or about February 5.

Farther Brings In $650 Million SignalPoint Asset Management Team

By Amit Chowdhry ● Jan 16, 2025

Farther, a leading technology-driven wealth management firm, announced it has welcomed SignalPoint Asset Management to its platform. And with about $650 million in client assets under management, SignalPoint represents Farther’s most significant partnership to date, solidifying its reputation as a rapidly growing RIA.