Elsewhere, Raymond James attracts more Commonwealth teams, Wells Fargo adds nearly $1 billion with UBS and JPMorgan defections, and Baird welcomes a veteran advisor from Edelman.
The Torrance, California-based consolidator's newest strategic minority investment, marking a first for Ares, will help advance the RIA's talent acquisition, M&A strategy, and other priorities.
As private market products surge, experts say standardization and strong partnerships will be crucial to sustainable AI adoption for advisors.
COO says since its summer transition to Cambridge Associates, the hybrid RIA has welcomed several teams representing $634 million in combined client assets.
Almost half in a recent survey called stock plans a "must-have," with equity comp being used to help with retirement, education expenses, and debt payments.
CEO says the top-ranked Canadian bank, which could theoretically scoop up a business as large as Schwab, has several "high-quality wealth franchises" in its sights.
With equities now making up nearly half of US households' financial assets, experts warn that market swings could have broader financial consequences.
The regulator's impending response to a 2023 application by Dimensional Fund Advisors could open the door to a broader boom of dual share-class mutual fund products.
The Securities and Exchange Commission is inviting feedback on regulatory barriers as it considers changes to revive RMBS and asset-backed securities offerings.
Raymond James also kept its Commonwealth recruitment streak going, while Americana Partners and Pallas Capital Advisors each hired a veteran specialist advisor to boost their offerings.
