The steady flow of PE money into wealth management illustrates the bullish outlook for the industry's fee-based revenue streams.
The deal pushes Millennium up to 5 million individual client accounts and $47 billion of total assets under administration.
While the financial planning industry clings to the more lucrative asset-based fee model, a steady push toward flat fees is gaining steam.
As chief strategy officer, LPL's former chief investment officer will join the executive board and report directly to Ron Carson.
Designed to go up in value when rates rise, the FolioBeyond Rising Rates ETF is well suited to the current environment.
As Brown Capital Management has grown, founder Eddie Brown has also seen his appreciation for being able to 'pay it forward' grow as well.
The acquisition of Oakbridge Partners will push Homrich's assets to nearly $13 billion. The deal is expected to close next month.
The 52-year-old asset manager with nearly $20 billion under management will become a subsidiary of Callodine Group.
The asset sale suggests Morgan Stanley won't be following some competing Wall Street firms that are migrating toward the RIA space.
The risk-analysis platform plans to more than double its bond coverage by adding 800,000 more individual bonds this year.
