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The Minneapolis-based firm didn't immediately name a replacement, but pledged to maintain operations at its hybrid RIA.
July 12 -
Engine Capital, an activist hedge fund in the stock, called on Avantax to explore a sale last month, saying it could fetch as much as $32 per share amid rapid consolidation in asset management.
July 12 -
Amid a low tide of deals, the giants continue to identify RIAs and other firms giving them more scale and new capabilities.
July 11 -
Jeff Jones sees allowing donations to 501(c)3 groups as a way to accommodate advisors coming into the industry from the insurance world.
July 11 -
The deal, a mix of cash and equity, will expand the RIA consolidator's growing service offerings to clients.
July 11 -
The giant asset manager and its rivals like Vanguard and Schwab are all benefiting from offering advisors funds bundled into ready-made strategies.
July 11 -
Advisors seeking to sell their firms will find buyers that are increasingly focused on larger practices.
July 10 -
The firm's employee brokerage is bringing Alex. Brown, which it acquired in 2016, more firmly into its fold.
July 10 -
Drew Tignanelli argues that financial advisors should be subject to the more rigorous professional and educational standards governing doctors and accountants.
July 10 -
A small tweak to business practices could earn many firms in the industry much more in income, and it's hiding in plain sight.
July 7