Charlesbank Capital Partners, a private equity firm based in New York and Boston, has taken a “significant” stake in Lido Advisors, a Los Angeles-based registered investment adviser managing more than $9 billion.
Founded in 1999, Lido currently has offices in 12 metropolitan areas and plans to expand across the country organically and through acquisitions, the firm said in a release. Its executive team will remain.
The transaction, the terms of which were not disclosed, is expected to close in June.
LPL's latest addition, a San Diego team defecting from RBC, represents a milestone for the broker-dealer giant's Strategic Wealth model for wirehouse breakaways.
The new legislative proposal, which includes more aggressive cuts to Medicaid and a lower SALT cap, threatens a goal of passing President Trump's tax-cut legislation by July 4.
The deal for the Audax-backed RIA based in Boston gives Osaic a strategic foothold to attract more advisors and clients across the wealth spectrum.
‘Revenge tax’ on foreign investors could be scrapped in new version.
Veteran legislator helped set the standard for derivatives regulation.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
