IQ-EQ, a Luxemburg-based international financial holding company, has agreed to acquire Concord Trust Co., a South Dakota-based trust company with $2.9 billion in assets under management.
Terms of the proposed acquisition, which is IQ-EQ’s first in the U.S. private wealth market, were not disclosed.
“The acquisition will help position IQ-EQ as the global outsourcing partner of choice for UHNW families, executives, entrepreneurs, and their family offices,” the company said in a release.
In a constant fight over control of clients, the financial advice industry has a long history of such allegations and disputes.
Retirement fintech Vestwell has hit profitability and $200 million in annual recurring revenue, powering savings programs for 750,000 employers and Wall Street’s biggest firms
Meanwhile, &Partners has drawn another Wells Fargo team based in Missouri, while an experienced South Carolina advisor has returned to Cetera from LPL.
Faulty Forms 1099 and account statements reportedly left some Vanguard brokerage customers overpaying or underpaying taxes for over a decade.
The democratization of ETFs cuts both ways
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
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
