Cary Street Partners, a Richmond, Va.-based registered investment adviser managing $1.9 billion, has agreed to acquire Virginia Beach, Va.-based RIA Waypoint Advisors, which manages $215 million.
“Like many financial advisory firms, we recognize the need for larger scale to cover growing compliance, operations, and technology requirements,” said Elizabeth T. Patterson, president of Waypoint Advisors, which was founded in 2001.
[More: Battle of the business models]
Report finds fee-based assets have grown 169 percent in 10 years, while managed accounts took increasing share across wirehouses, broker-dealers and insurance firms.
The top-ranked RIA is setting its sights on new markets with plans for key acquisitions in Los Angeles, Phoenix, and Salt Lake City.
Omani Carson's new company, Omya, promises to help people live with a mindset of love and abundance.
Experts say the best way to participate is through education, appreciated stocks, and IRAs.
Ramsey Solutions’ unsolicited text messages allegedly caused the plaintiff “actual harm."
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This season’s market volatility: Positioning for rate relief, income growth and the AI rebound
