SailGP, the global sailing league founded by Larry Ellison, has added $3 billion RIA and multi-family office Certuity as an investor in its Italy team as the firm expands its focus on emerging sports following earlier investments in NBA franchises.
With $750 million in assets and plans to hire a RIA Growth Lead, Autopilot is moving beyond retail to court advisors with separately managed accounts and integrations with RIA custodians such as Schwab and Fidelity.
“Private equity is going to pay more these days, they are throwing around cash like drunken sailors in port, and the multiples don't make any economic sense. At some point this is going to come crashing down, but it hasn't yet,” said Pitcairn CEO Andrew Busser.
The Fortune-500 financial services firm plans to hire nearly 600 advisors by the end of this year across its employee and independent channels, wanting a "younger, more diverse population of advisors" in five key cities.
Schwab's new Advisor ProDirect subscription program will serve as a launch pad for advisors looking to go independent, particularly those managing $50 million to $300 million in assets.
Morningstar says that declining fees saved investors $5.9 billion in fund expenses across ETFs and mutual funds in 2024.
Gallup finds 42% of American adults under 30 are getting financial advice from social media, raising concerns of "misinformation being shared by finfluencers."
Despite a cooling U.S. appetite for ESG funds, AlTi Tiedemann Global reported a 14% revenue surge and a 38% jump in adjusted EBITDA for Q1, while doubling down on its social impact mission for investing.
The $71 billion RIA accuses former employees Ryan Malec and David Weitz of stealing client data and breaching contracts after launching a rival firm in Atlanta.
"It's the Golden Age, we're all blessed that this is where we are, what we do for a living, and that the sun is shining on the transition towards the RIA space," Creative Planning CIO Jamie Battmer said at a forum hosted by Goldman Sachs.
