Industry

A trio of top custodial executives discussing big trends for the RIA sector downplayed the term -- at least as a marketing advantage -- during a panel this week at the MarketCounsel summit in Las Vegas.

Merrill Lynch compensation remains mostly the same next year, with some tweaks to smaller accounts.

Lebenthal picked up an RIA that oversees $250 million in assets, as well as a team of two advisors in New York.

Mega teams spend months, sometimes years, in the effort to find a new home and transition their oversized books.

Mark Evans will provide investment advice to clients of Ascent Private Capital Management. He is the second managing director of investments to join Ascent's Minneapolis office.

Canadian Imperial Bank of Commerce is weighing a bid for Frank Russell Co.’s asset management arm, a business the London Stock Exchange Group is preparing to sell early next year, people with knowledge of the matter said.

The three founders of Concord Equity Group Advisors, a firm LPL bought in 2011 after the RIA allegedly hid commissions from its institutional clients, settled with the SEC.

Raymond James & Associates recruited an advisor managing more than $191 million in assets from regional rival Stifel.

Man Group, the largest publicly traded hedge fund manager in the world, will buy fund-of-hedge funds assets from Merrill Lynch Alternative Investments to expand in the U.S. The London-based firm will acquire the contracts to manage Merrill’s $1.2 billion multi-strategy investments, and will pay Merrill Lynch $2.9 million when the deal closes and 35% of the management fees generated annually for five years, not to exceed $30 million.

The wirehouse brought over five advisors from UBS and Citi Personal Wealth Management.