The Pritzker Organization has made a $100 million minority investment in Steward Partners Global Advisory, a Washington, D.C.-based hybrid managing $23 billion with 170 advisers. The firm has 27 offices across the country.
The investment, the first in the wealth management industry for the Pritzker family’s merchant bank, comes with two seats on Steward’s board. Pritzker businesses include Hyatt Hotels, Triton Container and the Marmon Group.
The Cynosure Group, a Salt Lake City-based private equity firm, made a $50 million investment in Steward in March 2019 and will remain fully invested.
A new proposal could end the ban on promoting client reviews in states like California and Connecticut, giving state-registered advisors a level playing field with their SEC-registered peers.
Morningstar research data show improved retirement trajectories for self-directors and allocators placed in managed accounts.
Some in the industry say that more UBS financial advisors this year will be heading for the exits.
The Wall Street giant has blasted data middlemen as digital freeloaders, but tech firms and consumer advocates are pushing back.
Research reveals a 4% year-on-year increase in expenses that one in five Americans, including one-quarter of Gen Xers, say they have not planned for.
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.
