GenXFinancial, the Nashville, Tennessee-based parent of super office of supervisory jurisdiction Innovative Financial Group, will acquire Boston Partners Financial Group, another large office of supervisory jurisdiction that's affiliated with Royal Alliance Associates. Each OSJ manages about $4.5 billion in client assets.
Upon completion of the transaction, the terms of which were not disclosed, GenX will supervise 180 independent representatives and become the largest super-OSJ affiliated with Royal Alliance, an Advisor Group subsidiary.
Mark Marroni, who has led Boston Partners for more than 20 years, will continue to lead his own ensemble practice affiliated with GenXFinancial following the close of the transaction, and will operate under the Boston Partners Financial Group brand.
The collective of groups including CFP Board, the FPA, NAPFA, and XYPN called for continued support in a legal battle to reinforce clients' best interests.
TMG adds to its $14 billion in AUM and AUA with a new California partnership while Cleveland-based Prosperity welcomes two veterans to its leadership.
Soon-to-launch AI-powered tool allows retail investors to build bespoke indexes, with users able to buy in with fractional shares.
The competing legal strategies appear contrary to Stifel’s public statements about defending its structured notes’ tactics.
The two firms have also bolstered their ranks with additions from LPL, Morgan Stanley, and PNC Investments.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
