(Bloomberg) — Young athletes navigating the burgeoning world of big-money sponsorship deals are teaming up with Bank of America Corp.'s financial advisers. to plan their financial future. BofA's Merrill Wealth Management and IMG Academy, the Florida-based high school sports powerhouse, are partnering to provide financial education to student-athletes and their families, covering topics including saving…

A new Schwab survey found that 61% of 401(k) participants feel that their financial situation requires financial advice. That figure represents a 600-point jump from a year ago, when 55% of respondents felt that way, according to Schwab's. 2024 401(K) Study with Participants. “There is an absolute demand, an insatiable demand for financial advice, and…

In 1977, the richest 0.1% of households owned about 7% of total household wealth. By 2016, their share had almost tripled to around 20%. The increase has attracted attention among policymakers and researchers. Da Ke, author of the study “Left Behind: Partisan Identity, Stock Market Participation and Wealth Inequality,” published in July 2024 ABoUT THE…

FLPutnam Investment Management acquired three independent RIAs collectively with a total of $1.25 billion in assets under management, pushing its assets under advisement to over $10 billion. Additions include Arbor Capital Management Corp., a $950 million AUM firm based in Amherst, NY, as well as Mashpee, Mass.-based Four Ponds Financial Planning and New York's Ascension…

What makes your RIA unique? How do you approach recruiting, both advisors and other RIAs? Differentiating your firm in today's fast-growing RIA space is more important than ever to the future of your business. Our Dynasty Investment Banking team recently held our inauguration M&A Internship in New York for our network partners. One of the…

After inflation soared in the wake of the pandemic, the Federal Reserve raised interest rates 11 times over the 16 months starting in March 2022. Before that, rates hovered near zero as policymakers pulled every lever available to keep the economy humming after the lockdowns ended. most business activity. Fast forward more than two years,…

Elevation Point, an investment firm launched last month by former Sanctuary Wealth CEO Jim Dickson, has added two UBS executives as founding partners. Bradford Smithy and Robert B. Tamarkin joined the firm, which aims to take stakes in RIAs with $200 million to $3 billion in client assets and help accelerate their growth by providing…

It's hard to criticize the firm you work for when you've built a business that manages $2 billion in client assets. But a reality exists for many top advisors like the guests on this episode. That is, they understand how the industry and their clients' needs are evolving—and that their firm may not be equipped…

GeoWealth, a Chicago-based asset management platform, raised $18 million in growth investment funding, with BlackRock as a new lead investor. Kayne Anderson Growth Capital, which led GeoWealth's 2021 Series B financing, and JP Morgan Asset Management also participated in this round (the latter also invested in 2018). Connected: WealthStack Podcast: GeoWealth's Colin drops in on…

Savvy Advisors, the New York City-based RIA of fintech parent company Savvy Wealth, has added six new advisors, including a team that managed $300 million in client assets at Mariner Wealth Advisors. The additions bring Savvy's total number of advisors to 30 and assets under management to more than $700 million. Connected: Mariner Sues Savvy…