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.
An appeals court sided with a pension fund, ruling Perfection Bakeries must apply a $2M credit earlier in its withdrawal liability calculation.
Veteran advisor managing $400M launches firm through strategic partnership.
Also, Nitrogen has added Indivisible Partners to its integration network, while Wealthtender unveiled an AI-focused update to help boost advisors' online presence.
The giant hybrid RIA's latest East Coast move adds $175 million in recruited assets as it looks to offset broader advisor attrition.
Regulator is asking for feedback on how this might work.
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.
