The asset management industry's involvement in the digital advice space continues to deepen, as firms focus on providing institutional solutions for advisors.

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The move broadens its line of digital advice offerings to better serve a variety of clients, says Pershing Advisor Solutions CEO Mark Tibergien.

One of the industry's largest aggregators now has around $15B in AUM.

"We anticipate rapid growth within the Texas market,” says Jeff Dekko, CEO of Wealth Enhancement Group.

“Our growth is going to be organic,” says Raymond James Financial CEO Paul Reilly, who adds that he has “concerns” about the DoL rule.

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Demand for advisory firms is growing, investment bankers say.

Blackstone will shutter a mutual fund that allocates money to hedge fund managers following a large redemption by the vehicle’s main backer, Fidelity.

“We expect this momentum to continue and potentially accelerate over the next five to seven years,” says investment banker David DeVoe.

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Fidelity suspended sales of MetLife's annuities as the life insurer weighs a possible sale, spinoff or public offering of a retail unit that provides the retirement products.

Lightyear Chief Executive Donald Marron is getting a second chance to purchase the insurer's broker-dealer arm.

Legg Mason broadened its alternative investments capabilities and also made a deal to expand its ETF business.

Invesco acquired Jemstep, a robo solution for advisors, for an undisclosed sum. It's the latest in a line of digital advice moves from asset management giants, which began in earnest last year.

Chicago-based NextCapital announced a $16 million funding deal in mid-December that includes support from Manulife and AllianceBernstein. It had already found investors in 2014 from Russell Investments and Transamerica Ventures Fund.

Cedar Capital CEO Paul Ingersoll says he is confident in his firm's decision to acquire F-Squared's remaining assets, despite its past problems with the SEC.

Huntington Bancshares in Columbus, Ohio, has agreed to sell its fund-servicing business, Huntington Asset Services, to Ultimus Fund Solutions, a provider of back-office and other services for small and midsize advisers.