Managers Investment Group finalized plans this week to acquire $3 billion of customer assets from Freemont Investment Advisors.
The deal gives Managers control of Freemont's 12 no-load mutual funds, which are managed by independent sub-advisors, as well as assets in 401(k) plans and separate accounts. As a result of the deal, Managers now offers 37 mutual funds with $8 billion in assets.
Managers also has bragging rights to marquee investment professionals like Bill Gross of
Gryphon Wealth will keep Wells Fargo Clearing Services as its custodian in a deal that brings in tech support from TradePMR, a firm acquired by Robinhood in 2024.
If wealth management clients have children who are recent college graduates, pointing them in the right direction on their first 401(k)s helps build strong connections with two generations.
Subscribers to Financial Planning can earn one continuing education credit toward recertification by successfully completing the 10-question quiz.
Even if they must refer wealth families to a tax professional for a generation-skipping or dynasty trust, financial advisors can play a valuable role.
Jim Gold of Steward Partners thinks impending advisor retirements will continue driving smaller RIAs into M&A deals with big acquirers — even as AI turns many investors into "do-it-yourselfers."
Justin Brownlee started an RIA targeting energy, oil and gas employees. His hyperspecific marketing tactics have helped grow the firm into a thriving niche.
