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.
The experienced advisory teams join Ameriprise and Janney as the race for experienced talent continues.
Additional investment and partnership will see joint development of wealth management, brokerage and digital asset platforms.
Rising drug and outpatient costs are pushing plan members to demand more financial guidance and most insurers are falling short.
FINRA's proposed rule filing would create a new 10-day fraud delay and nearly triple the maximum hold period for exploited senior investors.
Fueled by a recent shot in the arm from private equity firm Carlyle, MAI adds a $490 million Atlanta RIA as it keeps building out its national footprint.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
