Private equity firm
Hellman is said to be interested in Gartmore's $6.3 billion of hedge fund assets, particularly as hedge funds carry high fees and are increasingly in popularity.
"The move into hedge funds has done a lot to help them," commented Ian Brimecone, an investment banker at
Gartmore's parent company,
Fidelity launched a new hub aimed at helping advisors who said they're struggling to grow organically. The move comes as LPL Financial and BlackRock launched similar hubs this year.
Three advisory teams managing $10 billion in the San Francisco area are among an ongoing wave of departures from the biggest U.S. bank.
Experts say that busy entrepreneurs often miss incentives and advantages available to them. Financial advisors and tax professionals can give them a nudge.
The CEO of the RIA "roll-up" outfit thinks that ongoing industry consolidation doesn't necessarily mean all firms will start to look the same.
As ESG investments face political backlash, here's how financial advisors are talking to clients about impact investing.
An industry recruiter said the Bank of America subsidiary has become almost "unhinged" with the amount of money it's willing to offer advisors it's recruiting.
