Trian Fund Management has invested approximately $900 million in Invesco and Janus Henderson Group, raising its stake to 9.9% in each company, according to a report by the Wall Street Journal, which said that Trian has set aside funds to invest in a consolidating asset management industry.
Trian, led by activist investor Nelson Peltz, made a $70 million profit recently when Franklin Resources acquired Legg Mason, according to Bloomberg. Trian had invested in Legg Mason early in 2020.
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
