Federated Hermes has agreed to acquire substantially all the assets of C.W. Henderson and Associates, a Chicago-based registered investment adviser specializing in tax-exempt municipal securities.
C.W. Henderson is the adviser to approximately $3.63 billion in direct account, dual-contract separately managed accounts and sub-advised separately managed account portfolios. The firm also manages two municipal bond products — one intermediate-term and the other short-term — that focus on high credit quality with limited interest-rate risk.
"Combining the proven investment acumen of C.W. Henderson's team and their active investment process with Federated Hermes' extensive distribution capabilities will give our company a new opportunity to grow our $23 billion SMA business," said J. Christopher Donahue, president and CEO of Federated Hermes.
The transaction, terms of which were not disclosed, is expected to close in the third quarter.
Federated Hermes, a Pittsburgh-based asset management company with $631.1 billion in assets under management, traditionally has focused on the money market space, but last year it launched two actively managed fixed-income exchange-traded funds.
Federated Hermes said the C.W. Henderson team will continue to manage its portfolios.
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.
TCI Wealth Advisors also has also tapped JIFFYAI to unify onboarding and servicing, while TradePMR adds ICE market data to its Fusion advisor platform
Also, CAPTRUST adds a $300 million planning team from Sanctuary in its home market of Raleigh, and Sequoia Financial Group buys a Boulder family office.
New nonvoting shares would let the Meta CEO cover eyed Proposition 40 tax without losing control, in exchange for an eight-year residency pledge
New research exposes a wide gap in how affluent parents and their adult children understand and prepare for the transfer of family wealth.
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
