A record 102 acquirers entered the market last year, but 20 firms captured more than half of all acquired assets, according to Fidelity’s latest M&A report.
As the OpenArc litigation drags on, Merrill Lynch is absorbing another recruiting blow with a $1 billion advisor team defecting to Janney Montgomery Scott.
New York Mets owner Steve Cohen and Carolina Panthers owner David Tepper rank as Bloomberg's highest-paid hedge fund managers as sports investing becomes increasingly popular.
Jump and Avantos each raised big funding rounds this week, marketing themselves as “AI-native operating systems” for advisors at top RIAs and custodians—counting Mercer, Merit, Focus Financial Partners, SEI and Vanguard as early adopters.
After reaching $3.5 billion AUM driven entirely by organic growth, Virginia-based firm targets acquisitions between $400M and $3B in assets as part of its aim to reach $22 billion by 2033.
The $15 billion RIA’s new AI Analyst scans client data to flag tax risks, cash imbalances, market exposure and life events, giving advisors a head start on client outreach. Farther's investors include CapitalG, a fund from Google's parent company Alphabet.
Schwab's RIA Compensation Report shows firms that offer performance-based compensation generate 24% higher revenue and serve 43% more clients over five years compared to firms without performance-based staff incentives.
The deal adds Verus’s $1.2 trillion institutional advisory footprint into Cerity, an RIA that manages roughly $150 billion in existing assets including $8.5 billion tied to its family office division.
Robinhood is bundling tax, estate planning and CFP support through third-party providers Vanilla and Taxfyle. "It’s a great strategic offering to start to change the mindset of Robinhood being a no service and cheap free platform," said one financial advisor.
The world's biggest YouTube star is entering financial services as data shows that Americans under age 30 are more likely to get financial advice from social media than from finance professionals.
