Hightower, the Chicago-based registered investment advisor with interests in 111 advisory business, has taken a stake in Stearns Financial Group, a $1.3 billion RIA in North Carolina. The Stearns deal is Hightower's sixth transaction so far this year.
Stearns was established in 1991 and has offices in Chapel Hill and Greensboro, North Carolina. It has 32 employees, including 12 advisers.
The transaction, the details of which were not disclosed, is expected to close by the fourth quarter.
The "Crypto Mom" departure would leave the SEC commission with just two members and no Democratic commissioners on the panel.
IFP Securities’ owner, Bill Hamm, has a long-term plan for the firm and its 279 financial advisors.
Meanwhile, a Osaic and Envestnet ink a new adaptive wealthtech partnership to better support the firm's 10,000-plus advisors, and RIA-focused VastAdvisor unveils native integrations with leading CRMs.
A former Alabama investment advisor and ex-Kestra rep has been permanently barred and penalized after clients he promised to protect got caught in a $2.6 million fraud.
As more active strategies get packaged into the ETF wrapper, advisors and investors have to look beyond expense ratios as the benchmark for value.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
