Charlesbank Capital Partners, a private equity firm based in New York and Boston, has taken a “significant” stake in Lido Advisors, a Los Angeles-based registered investment adviser managing more than $9 billion.
Founded in 1999, Lido currently has offices in 12 metropolitan areas and plans to expand across the country organically and through acquisitions, the firm said in a release. Its executive team will remain.
The transaction, the terms of which were not disclosed, is expected to close in June.
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
