Eaton Vance completed the previously announced acquisition of the assets of WaterOak Advisors, a registered investment advisory firm in Winter Park, Florida, with approximately $2.3 billion of client assets under management.
On a combined basis, WaterOak and Eaton Vance Investment Counsel, the unit of the company that made the acquisition, have $11.4 billion in assets under advisement. The firm will operate as Eaton Vance WaterOak Advisors, serving as the parent company’s wealth management affiliate.
In October, Morgan Stanley announced that it will acquire Eaton Vance, whose asset management brands include Calvert, Parametric and Atlanta Capital. The transaction is expected to close in the second quarter of 2021.
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL
According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.
Insiders allegedly rewrote projections three times in four days.
TCI Wealth Advisors also has also tapped JIFFYAI to unify onboarding and servicing, while TradePMR adds ICE market data to its Fusion advisor platform
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
