BlackCrown Inc., a small New York-based RIA that advises on mergers and acquisitions, has filed an antitrust lawsuit in Manhattan federal court that challenges the planned $26 billion acquisition of TD Ameritrade Holding Corp. by Charles Schwab & Co.
The lawsuit charges that the proposed deal would decimate smaller registered investment advisers that rely on Schwab and TD Ameritrade to serve as their custodians, according to a story by Bloomberg.
BlackCrown Inc. alleges that the acquisition would: “disenfranchise a great segment of the industry by effectively establishing a caste system,” worsen concentration, and have a significant impact on innovation.
Meanwhile, Carson Group fully integrates a decades-old practice in Phoenix, Arizona, and Triad Wealth touts its 5x growth to hit a $2 billion milestone.
Matt Gellene shares the bank’s latest research on how young adults are managing their finances.
Survey data reveal a widening divide between early AI adopters and those still on the sidelines – with career stage and AUM emerging as key fault lines.
Sitting between equity and insurance-like solutions, defined-outcome ETF strategies have matured as an alternative to staying in cash during choppy markets.
Orion CEO Natalie Wolfsen says artificial intelligence could double the number of Americans receiving financial advice as RIAs deploy AI to boost advisor productivity
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
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
