Houston-based U.S. Capital Advisors has acquired Legacy One Financial Advisors, a registered investment adviser based in Austin, Texas, that manages $1.4 billion.
The company will merge Legacy into its wealth management advisory subsidiary, USCA RIA, which manages $4.1 billion. The new entity will be renamed U.S. Capital Wealth Advisors.
The new RIA, an affiliated U.S. Capital Advisors brokerage division and other related entities will manage almost $9 billion.
Terms of the acquisition were not disclosed.
Federal prosecutors say the scheme used fake investment accounts and a fictitious financial advisor to lure victims into romance-fueled fraud.
Morgan Stanley sought to claw back recruiting bonus money from Darryl Cohen.
Referrals from centers of influence may open the door, but the real key to success for advisors comes from clarity about their ideal clients and where they want to show up.
Three advisor groups overseeing more than $700M in combined client assets head to new firms.
New research finds most Americans fear a US retirement crisis, while skepticism grows toward AI financial advice and crypto in retirement plans.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
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
