iM Global Partner, a Paris, France-based owner of asset management firms internationally that currently manages about $20 billion, has entered into an agreement to acquire Litman Gregory, a Walnut Creek, California-based wealth and asset management firm that manages and oversees $6.2 billion in assets.
Founded in 1987, Litman Gregory has developed a range of mutual funds in addition to managing wealth for individuals and nonprofit organizations.
The acquisition is intended to enhance iM Global’s distribution capabilities in the U.S., the company said in a release.
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
