Texas hybrid managing $530 million goes RIA

Texas hybrid managing $530 million goes RIA
Austin Private Wealth had been affiliated with Ameriprise.
JUL 23, 2019

Austin Private Wealth, which manages $530 million in Austin and Corpus Christi, Tex., has become a registered investment adviser. The firm, which will use TD Ameritrade as its custodian, had been a hybrid affiliated with Ameriprise Financial. (More: Adviser managing $275 million at Ameriprise goes indie through LPL) Dan Kraus and Raoul Celerier, who have given up their securities licenses, founded their firm in 2006. They were joined by partners A.J. Wagner in 2007 and Kieu Le in 2017. Mr. Kraus spent 23 years with Ameriprise and its predecessor firm. Mr. Celerier was with Ameriprise and a predecessor for 15 years.

Latest News

Fintech bytes: Envestnet reaffirms $1B RIA commitment with Tamarac tech investment
Fintech bytes: Envestnet reaffirms $1B RIA commitment with Tamarac tech investment

Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.

RIA moves: Maridea acquires multigenerational practice in Pennsylvania debut
RIA moves: Maridea acquires multigenerational practice in Pennsylvania debut

Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.

Private equity eyes 401(k) plans, but fees remain a hurdle
Private equity eyes 401(k) plans, but fees remain a hurdle

Asset managers are racing to bring private market products to retirement plans, but cost and liquidity concerns linger.

IRS floats proposal ending tax breaks for schools that weigh race
IRS floats proposal ending tax breaks for schools that weigh race

Treasury's latest tax-exemption crackdown on private schools lands in the wake of a separate push to restrict refundable credits for some immigrant filers.

Trust over tech: The hidden signal of stock success in the AI era
Trust over tech: The hidden signal of stock success in the AI era

Workforce trust measures predicted which companies came out ahead during COVID-19. The same dynamic may now be playing out across the AI transition — and the data suggests the spread could be just as wide.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income