Chicago-based Cresset Asset Management, which manages $7.2 billion in assets, has acquired Reston, Va.-based PagnatoKarp. The addition of PagnatoKarp's $2.3 billion in assets would rank the combined firm among the 25 largest RIAs in the country by assets under management, according to the InvestmentNews RIA Data Center.
Both employee-owned firms offer multifamily office services, with Cresset also offering private investments.
The independent broker-dealer is getting fresh fuel for its growth efforts as the leading PE player agrees to take a majority stake.
The firm is extending its growth ambitions with a new location in Colorado while welcoming a $750M Schwab advisor.
The second-largest acquisition in the wealth firm's history adds a 12-person Minnesota team, led by a _-year financial planning veteran.
The online brokerage giant posted better-than-expected net income for the third quarter as it emerges from a historically challenging year.
Nationwide survey reveals rising concerns among investors ahead of November 5.
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