Emigrant Partners, a subsidiary of New York Private Bank & Trust, has completed a minority investment in Verdence Capital Advisors, a financial planning and wealth management firm managing $3 billion and headquartered near Baltimore.
Terms of the investment were not disclosed.
Verdence said it will use the investment to invest in its platform, expand its team and develop a national footprint through M&A.
Verdence was founded in 2012 as Kelly Wealth Management. In 2017, it rebranded as Verdence Capital Advisors after separating from Hightower Advisors, the company said in a release.
Federal prosecutors say the scheme used fake investment accounts and a fictitious financial advisor to lure victims into romance-fueled fraud.
Morgan Stanley sought to claw back recruiting bonus money from Darryl Cohen.
Referrals from centers of influence may open the door, but the real key to success for advisors comes from clarity about their ideal clients and where they want to show up.
Three advisor groups overseeing more than $700M in combined client assets head to new firms.
New research finds most Americans fear a US retirement crisis, while skepticism grows toward AI financial advice and crypto in retirement plans.
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
