Neuberger Berman of New York has announced that it intends to acquire the private asset management business of Delta Capital Management LLC, also of New York, which has approximately $550 million in assets under management. Terms of the transaction were not disclosed but it is expected to close before the end of the year. Francis L. Fraenkel and Peter K. Loeb, managers of Delta's private asset management group, will be managing directors at Neuberger Berman's private asset-management group, the firm announced. Both Fraenkel and Loeb specialize in the large-cap growth style of management.
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The second-largest asset custodian tilts its policies toward larger firms as commission-free trading continues to eat into its business safeguarding client assets.
7h ago -
Advisory practice sellers frequently wish they had taken more time for important strategic tasks before the deal, David Grau of Succession Resource Group says. He provided a list explaining why the timeline will take longer than many sellers may think.
8h ago -
Discussions about what David Solomon's longtime heir apparent might do as CEO surfaced following news reports that Waldron could take over as soon as next year.
10h ago -
New rules taking effect next year will require CFPs to earn more credits to maintain certification; FP subscribers have access to a library of more than a dozen CE quizzes.
October 1 -
The new platform looks to personalize both client and planner profiles to create better matches and relationships.
October 1 -
In addition to proposing broader access to private market investments for those who pass a test and for CFPs and other credential holders, the SEC also proposed expanding advisors' ability to charge performance-based fees.
September 30









