HGGC, a middle-market private equity firm based in Palo Alto, California, created Aspire Holdings, a new company that will hold the firm’s investments in registered investment advisers as it pursues a plan to invest up to $300 million in the space.
To date, HGGC has taken equity stakes in Apella Capital, Merit Financial Group and WA Asset Management, the firm said in a press release Wednesday.
Steve Young, HGGC's co-founder and president, will act as chairman of Aspire.
HGGC’s current and future RIA investments will continue to operate independently. The firm plans to invest in registered investment advisers both on its own and in partnership with other investors.
The "Crypto Mom" departure would leave the SEC commission with just two members and no Democratic commissioners on the panel.
IFP Securities’ owner, Bill Hamm, has a long-term plan for the firm and its 279 financial advisors.
Meanwhile, a Osaic and Envestnet ink a new adaptive wealthtech partnership to better support the firm's 10,000-plus advisors, and RIA-focused VastAdvisor unveils native integrations with leading CRMs.
A former Alabama investment advisor and ex-Kestra rep has been permanently barred and penalized after clients he promised to protect got caught in a $2.6 million fraud.
As more active strategies get packaged into the ETF wrapper, advisors and investors have to look beyond expense ratios as the benchmark for value.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
