Private equity

The wealth managers respectively recapitalized as the spigots of capital keep expanding in the industry, even amid signs for concern in the larger economy.

Higher fees, illiquidity and lack of transparency raise questions about suitability.

The fund would potentially offer multimillionaires exposure to a swath of assets unavailable on public markets.

From ultrarich to moderately wealthy, investors looking for outsized gains are being told to buy into the professional funds. There are risks.

The 2022 outlook looks to be much the same.

As private equity muscles into wealth management's fastest growing niche, it's injecting Wall Street business practices into financial planning.

Another big name in private equity is betting on an independent wealth manager and buying out a minority investor that fueled the RIA consolidator’s expansion.

The SEC head has already promised to take a closer look at crypto, online brokers and green investment funds. Now he is taking aim at the world of private capital.

Aaron Klein will remain CEO and previous investors like FTV Capital will exit in the recapitalization deal.

The California-based firm’s latest $1 billion RIA grab is just the start, its leaders say.