Emigrant Partners, the private equity arm of New York Private Bank & Trust, has made a minority investment in Pure Financial Advisors, a California-based registered investment advisory firm managing more than $2.4 billion. The amount of the transaction was not disclosed.
The transaction will provide Pure, which has offices in San Diego, Orange County and Los Angeles, with access to capital for organic growth initiatives and reinvestment in the company, and M&A support for future acquisitions, Emigrant 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.
