Wealth Enhancement Group, a Minneapolis-based hybrid advisory firm overseeing $56 billion in assets, announced that it has acquired Pinnacle Private Wealth, a hybrid overseeing more than $663 million in assets.
Pinnacle is based in Burlington, Massachusetts. The team of eight advisers and two staffers is led by Myles Dudley and Daniel Cotton.
Pinnacle, founded in 2009, serves high-net-worth individuals and business owners.
Other recent Wealth Enhancement Group deals include its purchase of Titus Wealth Management, a hybrid RIA overseeing $776 million, in July; a deal for Hawkins Wealth Management, an RIA managing $574 million based in North Liberty, Iowa, and Naples, Florida, in June; and the purchase of Kings Point Capital Management, a $1.7 billion advisory firm based in Great Neck, New York, also in June.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
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
