Industry

When Redtail Technology moved into its new building 18 months ago, CEO Brian McLaughlin ensured it had homey touches, like comfortable seating, a basketball court and slides.

Several RIAs have taken a cue from doctors in recent years, running in-house residency programs to train the next generation of planners.

The firm expects to add $10 million in revenue once the deal closes later this year.

The No. 1 IBD is pitching advisors on the merits of its offerings — but rivals have also added major teams from its ranks.

The company is considering buying bolt-on units to expand in private credit, real assets and non-U.S. businesses, said PGIM CEO David Hunt.

"I would go home at night and question if I added value to anyone’s life that day," writes Ashley Folkes. "The answer was usually no."

The firm adds a second $1B RIA - and its family office.

The aggregator nears $1 billion in revenue.

The IBD is one of three dozen firms the regulator has accused of failing to provide sales-charge waivers to eligible retirement plans and charities since 2015.

A portfolio that minimizes the frequency and magnitude of losses, while maintaining an equity-like overall return, may be worth emulating.