Wealth management

“The name may change but our commitment to the business, our clients and our advisors serving these clients is steadfast,” said division head Barry Sommers.

Wealth management firms are consolidating at a breakneck pace in a bid to grab wealthy U.S. clients.

The deal will push Paris-based iM Global’s assets above $24 billion and enable it to break into wealth management.

The benefits of traditional fixed income are diminishing with today’s low interest rate environment, but alternative investments can help solve the portfolio-allocation problem.

The RIA picks up 1,300 clients with $780 million in assets, underscoring feverish consolidation among wealth management firms.

Over the past year, the lineup of stock and bond funds notched an average gain of more than 25%.

Due to declining returns from bonds, the model 60/40 portfolio may eke out real returns of just 1%-2% a year over the next decade, said Lim Chow Kiat, chief executive officer of GIC.

The two fintechs are vying with each other and Envestnet to be advisors’ preferred digital hub.

The rep reeled in at least a dozen victims to the complex scam even though he was suspended from the industry for a different case, according to investigators.

Ascensus sold the practice with four reps and $490 million in client assets after acquiring it two years ago.

ARKK, along with other funds in her lineup, is in the green after logging its longest stretch of losses since the COVID 19-spurred meltdown last year.

Such products attracted more than $32 billion in January and February, by far their best start to a year.

Questions about job losses and real estate are adding more complexity to the usual post-deal issues involving advisor retention and company consolidation.

The firm hired more than 10,000 employees, boosting total staff to 47,000 associates.

Robinhood Markets has snared most of the attention for attracting an army of day traders during the pandemic. But far bigger profits are flowing to the family behind Fidelity Investments in Boston.

The RIA acquired the innovative practice while bulking up its social justice investing efforts and its wealth redistribution planning services.

Wealth Enhancement Group’s second acquisition of 2021 comes as experts say there’s an “ever-increasing buyer appetite” for $1 billion-plus firms.

After going public, the clearing firm plans to to grow and nudge further into the traditional advisory space, says its president.

While the quant firm will miss becoming the first to flip mutual funds to ETFs, its nearly $26 billion conversion will by far be the biggest.

This group carried fees nearly three times the industry average.