Mercer Global Advisors has filed a lawsuit against the Capital City Club, an Atlanta social club, for failing to respond to a subpoena in a case the RIA brought against the firm's former advisers last year. Late last year, Mercer filed a lawsuit against ACG Wealth, a the firm that bought it in 2021, and…

Total hedge fund assets hit a new record of $4.31 trillion in the second quarter of 2024, reports Chicago-based research firm HFRI. The $11 billion jump in assets in the second quarter marked the sector's seventh straight quarter of growth. The increase was driven by both hedge fund performance gains and asset managers' positioning to…

David Bodamer speaks with Jack Shannon, a senior analyst in Morningstar's manager research team, in an episode taped before a live audience at Morningstar Investor Conference. They delve into the differences between active and passive ETFs, highlighting the nuances in managing and trading them and whether active ETFs offer their own premises. Listen as David…

Did you know that the most consumed commodity in the US is not included in the most popular and largest commodity indices? Tim Kramer, CEO of CNIC Funds takes a deep dive into investing in electricity, which is often overlooked compared to other commodities. Tim discusses opportunities to invest in electricity, the benefits of including…

Avantax, the tax and RIA focused broker/dealer acquired by Cetera Holdings last yearhas added Noble Oak Financial, a team of advisors in Augusta, Ga. Advisors Josh Linton and Mike Koltz joined from LPL Financial, where they managed approximately $300 million in client assets. Both previously ran the wealth management business for Queensborough National Bank and…

Credent Wealth Management, a $2.6 billion registered investment advisor headquartered in Indiana, has raised more than $50 million in capital from Crestline Investors, an alternative investment manager, in the form of debt financing. David Hefty, CEO of Credent Wealth Management, said the firm spoke to 19 institutional investors and one of the main reasons they…

Powder, a fintech startup that launched at the annual T3 conference in January, has raised $5 million in seed funding from 40 Silicon Valley-based venture capital firms and technology leaders. These investors include YCombinator, General Catalyst, Funder's Club, Elefund, Litquidity Ventures and Script Capital, as well as Jon Xu, a co-founder at FutureAdvisor, and Bryant…

Simon Cowell, the reality star and record producer, has an estimated net worth of $600 million. How much of this will be left to his son? According to him, nothing. Listen in as host David Lenok is joined by Thomas Kopelman, head of community at Wealth.com's Estate Planning platform and co-founder of All Street Wealth….

The COVID-19 pandemic has highlighted the fragility of the business landscape in ways no one could have anticipated. With most people confined to their homes and dealing with social distancing rules, businesses had to adopt new ways to make money or risk closing their doors. One of our clients owned a dental clinic in a…

A $3 billion wealth management team from Citi Private Bank, specializing in extremely high net worth clients, is joining the Denver-based Alpha Capital Family Office. Alexandra Romeo Boyles and Will Coughlin are joining the firm as senior wealth strategist and senior investment strategist (both will also be partners at Alpha Capital). Both advisors are based…