TWG Global CEO Mark Walter has agreed to buy the Los Angeles Lakers for $10 billion, just two months after TWG Global entered a multi-billion investment partnership with Abu Dhabi's Mubadala Capital.
The $12 billion hybrid RIA Concurrent Investment Advisors will target RIAs between $200M-$500M in assets.
The acquisition of New York-based RIA Future You Wealth forms the foundation of NerdWallet Wealth Partners, a fee-only RIA targeting mass affluent investors with a maximum fee of 0.9%.
"I'm just a big believer that based on demographics alone, we are looking at a 10-to-15 year bull market in M&A in the RIA and independent wealth space," said Michael Belluomini, SVP of M&A at Carson Group.
The San Francisco-based RIA has its logo on the shirt sleeve of 23-year-old Riley Lewis as he makes his major championship debut, and plans to further leverage the golfer's cachet among clients and prospects.
Tariff-driven economic turbulence and stock market volatility could fuel further demand for annuities as a product for investors near retirement age to limit their downside exposure.
Transactions have slowed according to recent data as industry insider warns that the trip doesn't always match the brochure when minority investors come onboard.
According to a new Interactive Brokers survey, 42% of independent advisors are investing more in non-U.S. equities, while 40% are reducing client exposure to U.S. stocks amid growing concerns over tariffs and the national debt.
In its first move since selling a majority stake to HPS Investment Partners, Lido Advisors has acquired Michigan-based Exchange Capital Management. The deal comes as HPS prepares to join BlackRock, a major step for the world’s biggest asset manager expanding into the RIA space.
"This legal proceeding is about accountability and safeguarding ... the ethical standards our industry relies on," said Falcon Wealth CEO Gabriel Shahin, as the RIA accuses ex-employee Nicole Amore of misusing client data in her transition to Parallel Advisors.
