RIAs

The custodian has restructured the way it services RIAs and plans to scale.

The passively managed fund will be made available to qualified purchasers through family offices, RIAs and other institutions, a person familiar with the matter says.

New digital integrations with CAIS and iCapital make it easier for independent advisors to access private equity and hedge funds.

Previously, criteria focused on an investor’s wealth. Now, a broader group has access to investments that include private company offerings and certain private equity funds.

Lower transaction costs can often come with higher expense ratios at the nation’s largest IBD.

The group includes an advisor who started his career at Merrill in 1977.

This follows another August acquisition — an ex-UBS team that managed $1 billion in assets.

The slate of new hires come from several competitors including Wells Fargo and Edward Jones.

The new recruits include a 34-year industry veteran.

The company’s new self-guided tool will generate a plan for clients in as little as 15 minutes.