Emigrant Partners, a subsidiary of New York Private Bank & Trust, has made a minority investment in Gerber Taylor Capital Advisors, an advisory firm in Memphis, Tennessee, that manages and advises on $13.8 billion in assets.
Financial terms of the investment were not disclosed.
The transaction will support succession planning among the partners of Gerber Taylor and “secure an independent future for the company,” New York Private said in a release.
The bank is one of the largest privately held, family owned and operated banks in the country. It is led by Howard P. Milstein and the Milstein family, large New York City real estate owners.
Meanwhile, Kestra partner Coastline Wealth Management passes a milestone in its geographic expansion with a former Ameriprise team in New York.
New research also reveals that one third of HSA holders withdrew more than they put in.
Blue Anchor Capital Management and Pickett also purchased "highly aggressive and volatile" securities, according to the order.
Reshuffle provides strong indication of where the regulator's priorities now lie.
Goldman Sachs Asset Management report reveals sharpened focus on annuities.
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.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
