Emigrant Partners, a subsidiary of New York Private Bank & Trust, has completed a minority investment in Verdence Capital Advisors, a financial planning and wealth management firm managing $3 billion and headquartered near Baltimore.
Terms of the investment were not disclosed.
Verdence said it will use the investment to invest in its platform, expand its team and develop a national footprint through M&A.
Verdence was founded in 2012 as Kelly Wealth Management. In 2017, it rebranded as Verdence Capital Advisors after separating from Hightower Advisors, the company said in a release.
While industry statistics pointing to a succession crisis can cause alarm, advisor-owners should be free to consider a middle path between staying solo and catching the surging wave of M&A.
New joint research by T. Rowe Price, MIT, and Stanford University finds more diverse asset allocations among older participants.
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.
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.
