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.
While industry statistics pointing to a succession crisis can cause alarm, advisor-owners should be free to consider a middle path between staying solo and catching the surging wave of M&A.
New joint research by T. Rowe Price, MIT, and Stanford University finds more diverse asset allocations among older participants.
With its asset pipeline bursting past $13 billion, Farther is looking to build more momentum with three new managing directors.
A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.
"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
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.
