Finance

Another big name in private equity is betting on an independent wealth manager and buying out a minority investor that fueled the RIA consolidator’s expansion.

The SEC head has already promised to take a closer look at crypto, online brokers and green investment funds. Now he is taking aim at the world of private capital.

Advisors scramble to help clients earn interest, but with rates set to rise in 2022, richer households could see their portfolios hit harder because of duration risk

With a new South Florida home and booming stateside business, the Canadian asset manager now aims to become the leading high net worth and ultra high net worth platform in the U.S.

The firm added hundreds more advisors and boosted the number of practices with at least $5 million on its platforms.

Higher expenses trimmed the firm’s earnings, but its CEO described $49 billion in assets as only “a drop in the bucket” compared to future adoption among advisors.

The midsize firm’s headcount fell for the fourth straight quarter, even as nearly every other key metric expanded from the year-ago period.

The RIA aggregator has closed or announced more than 30 transactions in 2021, and Rudy Adolf’s team sees the greatest opportunity among its traditional M&A targets.

Hundreds more financial advisors have flocked to the wealth manager this year, driving new highs in headcount, client assets and several other metrics.

Expenses relating to recruiting and M&A rose at a faster clip than revenue, prompting one analyst to downgrade the company’s stock.