Atlanta-based BIP Wealth plans to target RIAs with $250M to $1.5B in assets in M&A as it eyes growing from its current $5.5 billion total AUM to $20 billion and beyond.
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.
