Wescott Financial Advisory Group will swell to $3.5 billion under management with the addition of Asset Planning Services, which specializes in working with execs from Merck & Co.
Rinet executive says $2.2 billion in AUM is no longer enough to be competitive in the fast-consolidating RIA market.
Record net inflows are just a part of the story. ETFs continue to take market share of mutual funds by doing more for less.
The acquisition of the New York-based RIA marks the third largest transaction for the Canadian buyer, which has grown to more than $100 billion in U.S. RIA assets in two years.
Riding the direct indexing wave, the WisdomTree Crypto Index is designed for advisers but could also offer direct access for retail investors.
Despite record-level asset flows into ESG strategies, the category is still saddled with a reputation it has long outgrown.
Starting from scratch two years ago, the Canadian aggregator has amassed nearly $100 billion in U.S. RIA assets. Total assets globally are anticipated to reach $271 billion when all current pending deals close.
Toronto-based Purpose Investments pushes the digital investing envelope by selling options on the cryptocurrency holdings of two new ETFs.
The Chicago aggregator will seal the deal with Clear Perspective Advisors by year end.
The latest deal by the New York-based RIA aggregator follows a trend of firms wrapping up deals before year-end.
