Lido Advisors, a Los Angeles-based registered investment adviser managing $11 billion, has acquired Enterprise Trust & Investment Company, a Los Gatos, California-based trust company managing $800 million.
The transaction, terms of which were not disclosed, is expected to close in the third quarter, Lido Advisors said in a press release Tuesday,
Founded in 1995, Enterprise Trust is based in the Greater San Francisco Bay Area. The firm provides investment management and fiduciary services to high-net worth individuals and their families.
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
