Private-equity firm Genstar Capital has acquired the majority stake in Foreside Financial Group held by Lovell Minnick Partners. Terms of the acquisition, scheduled to close before the end of the quarter, were not disclosed.
Foreside, based in Portland, Maine, provides tech solutions in the areas of distribution and governance, risk management and compliance to clients in the asset and wealth management industries.
The company is led by Richard Berthy and David Whitaker, who will remain shareholders and continue in their current management roles, the company said in a release.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
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
