U.S. Bank has agreed to purchase PFM Asset Management, which manages $161 billion in assets. Philadelphia-based PFM will continue to operate as a separate entity under U.S. Bancorp Asset Management, which manages $164 billion currently.
PFM’s financial advisory business is not part of the acquisition and will continue to operate independently, U.S. Bank said in a release.
The deal is expected to close in the fourth quarter.
With over 600 clients, the $71 billion RIA acquirer's latest partner marks its second transaction in Oklahoma.
Also, wealth.com enters Commonwealth's tech stack, while Tifin@work deepens an expanded partnership.
Back office workers and support staff are particularly vulnerable when big broker-dealers lay off staff.
The fintech giant is doubling down on its strategy to reach independent advisors through a newly created leadership role.
The two firms are strengthening their presence in California with advisor teams from RBC and Silicon Valley Bank.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
