Cary Street Partners, a Richmond, Va.-based registered investment adviser managing $1.9 billion, has agreed to acquire Virginia Beach, Va.-based RIA Waypoint Advisors, which manages $215 million.
“Like many financial advisory firms, we recognize the need for larger scale to cover growing compliance, operations, and technology requirements,” said Elizabeth T. Patterson, president of Waypoint Advisors, which was founded in 2001.
[More: Battle of the business models]
Britt is named CFO of Wipfli, a $600 million accounting firm that audits two NFL franchises
The acquisition pairs Zephyr's 21,000-product separately managed account database with Y Charts' newly launched AI agent assistant for investment research.
The war for talent continues in the Sunshine State with as Truist and RayJay teams managing a collective $1 billion in client assets defect to other firms.
Americans now estimate they need $1.2 million to retire comfortably, but rising costs and debt are making that goal increasingly difficult to reach.
Crewe Advisors' Ryan Halliday and Accelerated Wealth Partners' Eric Amar suggest mega RIA's readiness to integrate — not just scale — will determine whether an IPO exit actually works.
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
