Chicago-based Cresset Asset Management, which manages $7.2 billion in assets, has acquired Reston, Va.-based PagnatoKarp. The addition of PagnatoKarp's $2.3 billion in assets would rank the combined firm among the 25 largest RIAs in the country by assets under management, according to the InvestmentNews RIA Data Center.
Both employee-owned firms offer multifamily office services, with Cresset also offering private investments.
With its asset pipeline bursting past $13 billion, Farther is looking to build more momentum with three new managing directors.
A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.
"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.
It's the mega-RIA firm's third $1B+ acquisition in just three months.
The deal marks a strategic entry into private asst markets for the ETP, ETF innovator.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
