Lido Advisors, a Los Angeles-based registered investment adviser managing $11 billion, has acquired Enterprise Trust & Investment Company, a Los Gatos, California-based trust company managing $800 million.
The transaction, terms of which were not disclosed, is expected to close in the third quarter, Lido Advisors said in a press release Tuesday,
Founded in 1995, Enterprise Trust is based in the Greater San Francisco Bay Area. The firm provides investment management and fiduciary services to high-net worth individuals and their families.
A private partnership, Edward Jones is a giant in the retail brokerage industry with more than 20,000 financial advisors.
Meanwhile, Raymond James and Tritonpoint Partners separately welcomed father-son teams, including a breakaway from UBS in Missouri.
Paul Atkins has asked staff to solicit public comment on novel ETFs, pausing the clock on as many as 24 filings linked to the booming event contracts market.
From 401(k)s to retail funds, Deloitte sees private equity and credit crossing into mainstream investing on two fronts at once.
Big-name defections from Morgan Stanley, UBS, and Merrill Lynch headline a busy two weeks of recruiting for the wirehouse.
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
