M&A

• M&A

  Insurer to buy $3B TAMP as incumbents seek wealthtech convergence

  Sammons is trying to solve the longtime question of how best to combine planning with certain products through technology.

  By Tobias Salinger

  4h ago

  
• M&A

  How a Canadian asset manager became the fastest-growing RIA buyer in the US

  CI Financial has inked 14 deals for RIAs in less than a year — taking the lead in a hot M&A market.

  By Jessica Mathews

  January 28

  
• Fund performance

  Worst-performing actively managed funds of 2020 post 30% loss

  The 20 funds in this ranking carried an average expense ratio of more than twice the broader industry.

  By Andrew Shilling

  January 27

  
• Asset managers

  Reddit crowd bludgeons Melvin Capital in warning to industry

  The explosive growth in retail day-trading, powered by platforms like Robinhood and forums like wallstreetbets, has turned the old order on its head.

  By Katherine Burton and Hema Parmar

  January 27

  
• Portfolio management

  AQR cuts 60/40 outlook again with ‘depressed’ returns everywhere

  The quant manager has been warning for years that investor objectives are going to be increasingly hard to meet amid “soberingly low” gains.

  By Sam Potter

  January 27

  
• Clearinghouses/custodians

  $9B RIA Allworth Financial scoops up 4 ex-TD employees

  Among the new hires is Scott Collins, former head of brokerage independence and institutional sales consulting. He is one of many ex-TD Ameritrade alums seeking new employment after Charles Schwab acquisition’s of the firm.

  By Jessica Mathews

  January 26

  
• M&A

  Midsize IBD to make its first $1B acquisition

  Arete Wealth’s niche focus on alts for HNW and UHNW clients has given it a strong foothold in a fractured sector, experts say.

  By Tobias Salinger

  January 22

  
• Active management

  Actively managed funds with the biggest gains of 2020

  The top 20 carried an average expense ratio of more than three times the broader industry.

  By Andrew Shilling

  January 20

  
• Wells Fargo

  Wells Fargo nears deal with GTCR, Reverence for asset manager

  To streamline the company, CEO Charlie Scharf has been looking to sell certain businesses since taking over in 2019.

  By Matthew Monks and Hannah Levitt

  January 15

  
• Asset managers

  Fund managers donated $1M to GOP election deniers

  Pressure is mounting for firms to respond to last week’s violence at the Capitol.

  By Annie Massa and Katherine Burton

  January 14

  

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