Smarsh, a private equity-owned compliance and regulatory tech firm for wealth management firms and banks, has acquired Entreda, a provider of cybersecurity solutions firm for wealth managers.
Entreda, which is based in Santa Clara, Calif., will continue to operate under its own brand, and under the direction of CEO and co-founder Sid Yenamandra as a stand-alone, wholly owned subsidiary of Smarsh, which is based in Portland, Ore.
Terms of the acquisition were not disclosed.
The acquisition enables Smarsh to provide enterprise-level cybersecurity risk and compliance capabilities to its broker-dealer, registered investment adviser and bank clients, the company said in release.
Most firms place a limit on advisors’ sales of alternative investments to clients in the neighborhood of 10% a customer’s net worth.
Those jumping ship include women advisors and breakaways.
Firms in New York and Arizona are the latest additions to the mega-RIA.
The agent, Todd Bernstein, 67, has been charged with four counts of insurance fraud linked to allegedly switching clients from one set of annuities to another.
“While harm certainly occurred, it was not the cataclysmic harm that can justify a nearly half billion-dollar award to the State,” Justice Peter Moulton wrote, while Trump will face limits in his ability to do business in New York.
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.
