SageView Advisory Group, a Newport Beach, California-based hybrid whose registered investment adviser manages $133.7 billion, will acquire Capital One Investing’s client portfolios totaling $900 million.
The transaction, terms of which were not disclosed, is scheduled to be completed in the second quarter.
Capital One Investing is an RIA subsidiary of Capital One Financial Corporation, a McLean, Virginia-based bank holding company. It has about 1,100 clients, according to the SEC’s database of RIA firms. In addition to the portfolio assets being acquired, the wealth professionals who serve those clients and who are located across the country, also will join SageView.
In 2018, ETrade Financial acquired approximately 1 million retail brokerage accounts from Capital One Financial Corp. for $109 million. Morgan Stanley acquired E*Trade in 2020.
The firm's flagship fund, which invests in stocks, bonds, currencies, and commodities, saw accelerated gains as some peers lost ground.
Policy proposal offers recommendations on dual-share class funds, semi-transparent ETFs, and expanded flexibility for closed-end funds to include private market assets.
With bonds failing to provide a safety net for steeply falling stock prices, many investors are letting go of their "set it and forget it" approach.
Sneak peek into annual defined contribution plan report shows average participant balances reached an all-time high amid rising equity markets.
The iconic actor's death alongside his wife, Betsy Arakawa, leaves pressing questions about what happens next to his assets.
In an industry of broad solutions, firms like intelliflo prove 'you just need tools that play well together'
Blue Vault Alts Summit highlights the role of liquidity-focused funds in reshaping advisor strategies
