Twelve firms, including Blackstone, Charles Schwab and Apollo Capital Management, will pay a combined $63.1 million to settle SEC charges that they failed to keep records of employees who used personal and firm-issued devices to communicate via unapproved platforms. Parallel charges have previously settled charges against many of the most prominent players in the financial…

Carson Group is launching a tax strategy program for advisors created through the acquisition of Taylor Financial, a Franklin Lakes, NJ-based wealth management firm with approximately $385 million in assets. Debbie Taylor, a CPA and tax expert, leads the 10-person team. Her firm will now operate as Carson Wealth Franklin Lakes. “For 25 years, I've…

(Bloomberg) — Robinhood Securities LLC and Robinhood Financial LLC agreed to pay $45 million in civil penalties to settle a series of U.S. Securities and Exchange Commission claims, the regulator said Monday. Related: TradePMR Bets on the Referral Program, Technicals on the Robinhood deal “Today's order finds that two Robinhood firms failed to comply with…

Kestra Financial's current head of wealth management, John Amore, will become the firm's president starting in April. He will succeed current president Stephen Langlois, who will remain on staff as a senior adviser until the end of the year before retiring. Austin-based Kestra advises about $103 billion in assets and serves about 1,700 independent financial…

MAI Capital Management, a Cleveland-based registered investment adviser with approximately $30.3 billion in assets under management and advice, has acquired Concentric Wealth Management, a Lafayette, Calif.-based firm with six individuals and $662 million in client assets. Terms of the deal, effective Dec. 31, 2024, were not disclosed. Concentric was MAI's second West Coast acquisition in…

Marty Gross, founder and president of Sandalwood Securities, shares some great insights about investing in alternatives. Marty talks about the importance of setting realistic expectations for different types of alternative investments, the world of hedge funds, and the benefits of alternatives and co-investment. Learn more about zephyr Source link

RIA aggregator Focus Financial Partners has announced a new corporate brand and brand structure for its “hub” firms, rebranding those businesses as Focus. As a result, The Colony Group and Buckingham Strategic Wealth will operate as Focus Partners Wealth, while Buckingham Strategic Partners, the RIA's asset management platform, will now be Focus Partners Advisor Solutions….

After years of regulatory overreach, economic pressure and the transition of innovation to other parts of the world, the digital asset market looks set for a significant evolution as we enter 2025. Unlike the post-COVID hyper-FOMO cycle of 2021, we are entering a more mature era – fueled by increased construction and infrastructure investment coinciding…

Captrust Financial Advisors, the Raleigh, NC-based registered investment advisor since recently exceeded $1 trillion in total client assetshas acquired Wealth Covenant Group, a Houston-based firm with three employees and $300 million in client assets. With this addition, Captrust now has 12 offices and 188 employees in Texas. Wealth Covenant Group, led by President Dennis Stavinoha,…

Savvy Advisors, the New York City-based RIA of fintech parent company Savvy Wealth, added four new advisors in late 2024, including individuals from JP Morgan and Merrill Lynch. The additions bring Savvy's total number of advisors to 40 and assets under management to more than $1 billion. New recruits include female duo Cindy Alvarez and…