As EP Wealth more than doubles in size, the $40 billion RIA insists on 'not growing into some big corporate machine where either clients or employees become nameless, faceless numbers.'
Only 3% of SEC-registered RIAs qualify as small entities under the agency's current threshold, but about 75% would qualify under the proposed new definition.
Sources tell InvestmentNews the SEC is sharpening its focus on how RIAs disclose payments connected to third-party ratings, warning that omissions can be misleading.
The Kansas-based $640 billion firm, which bought United Capital from Goldman Sachs in 2023, now joins Wealth Enhancement and Mercer in building out the new RIA referral program from Goldman.
Mercer and Wealth Enhancement will receive client referrals from Goldman Sachs Ayco, which was previously led by Hightower Advisors CEO Larry Restieri.
Firm 'satisfied' with resolution. Mary-Kate Gulick tells InvestmentNews: 'I needed this to be over.'
Schwab CEO Rick Wurster said matching federal Trump Account contributions reflects a push to get more Americans invested early, as Robinhood echoed its mission to “democratize finance.”
DeVoe & Company projects RIA M&A activity to keep rising, while another industry dealmaker expects private equity's minority investments to expand into smaller RIAs sub-$2 billion in assets.
Schwab will discontinue its subscription-based hybrid robo advisor, joining JPMorgan, UBS and U.S. Bank in pulling back from such services. “The war is over. Human advisors won,” said RIA industry leader Josh Brown.
Anchorage’s move comes as custodians, including RIA giant Schwab, ramp up crypto offerings.
