Emigrant Partners, a unit of New York Private Bank & Trust, has made a minority investment in Ulrich Investment Consultants, a San Antonio-based registered investment adviser managing $1.7 billion.
Ulrich, which has offices in Albuquerque, New Mexico, and Spokane, Washington, serves high-net-worth individuals and families, as well as ERISA plans and Native American tribal clients.
Emigrant and its affiliate Fiduciary Network currently have stakes in 19 firms overseeing approximately $65 billion in aggregate assets under management and assets under administration.
Insiders say the Wall Street giant is looking to let clients count certain crypto holdings as collateral or, in some cases, assets in their overall net worth.
The two wealth tech firms are bolstering their leadership as they take differing paths towards growth and improved advisor services.
“We think this happened because of Anderson’s age and that he was possibly leaving,” said the advisor’s attorney.
The newly appointed leader will be responsible for overseeing fiduciary governance, regulatory compliance, and risk management at Cetera's trust services company.
Certain foreign banking agreements could force borrowers to absorb Section 899's potential impact, putting some lending relationships at risk.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
