FactSet, a global provider of data and technology to the financial services industry, has invested $12.5 million in research and relationship intelligence platform Aidentified Inc. In short, Aidentified provides tools to identify, qualify and convert new customer relationships and works with financial advisors, marketing teams and other sales professionals across multiple industry verticals. According to…

Various industry surveys over the years have shown that the larger an RIA gets, the more likely they are to use the services of more than one custodian. In my 27 years in wealth management, I can confirm that the conventional wisdom has been, regardless of the size of the RIA, “We should keep our…

Parsippany, NJ-based Summit Financial Holdings has recruited a team of advisors managing $1.9 billion in client assets in Pasadena, California. The team, led by managing partner and private wealth advisor Richard McWhorter, has created SRM Private Wealth and is joined by Merrill Lynch. SRM is the 11th team to join the Summit so far this…

Many investors, especially those who use a cash flow approach to expenses, prefer cash dividends. From the perspective of classical financial theory, this behavior is an anomaly. In their 1961 paper Dividend policy, growth and stock valuationMerton Miller and Franco Modigliani famously proved that dividend policy should be irrelevant to stock returns. Connected: Challenging the…

Sponsored by In this quick chat, David Armstrong, managing editor for Informa Connect's Wealth Management Group, talks with Leslie Tabor, director, Business Advisory Services at Schwab Advisor Services, about emerging trends and effective strategies firms are adopting to address challenges in finding new talent. From prioritizing internal talent development to engaging with the next generation…

Another former First Republic advisory team that joined JPMorgan after it bought the beleaguered bank is leaving the firm. In this case, Newport Beach, California-based duo Tim Woodall and Dustin Raring are joining the LPL. Connected: $1 billion Former First Republic team joins Citizens from JPMorgan The team, which managed about $500 million in assets…

Family offices plan to be active buyers of shares in private companies, according to a study by BNY Mellon Wealth Management. ETF.com looked at how inflation and expectations of potential interest rate cuts are affecting rate-sensitive ETFs. These are among the investment must-reads we found this week for wealth advisors. WealthManagement.com | June 11, 2024…

Arax Investment Partners, a wealth management platform backed by private equity firm RedBird Capital Partners, has acquired SRS Capital Advisors, a $1.7 billion AUM Denver-based registered investment advisor. The firm is the latest to join Arax's multi-boutique strategy, in which the company acquires independent RIAs operating under their own Forms ADV that are not included…

As the wealth management industry evolves, many successful financial advisors are leaving traditional banks, brokerages, brokerages, and broker/dealers to pursue the registered investment advisor designation. While there are a multitude of reasons to make such a career-defining move toward true independence through an RIA, most advisors will rank the control and flexibility to do what's…

Yext, an online presence management and listings company, has agreed to acquire financial services customer engagement and compliance platform provider Hearsay Systems for up to $220 million. The initial deal is for $125 million, with an additional $95 million in potential performance bonuses. Connected: WealthStack Summary: Rumor Social Study Reveals Increased Engagement, Changes in Content…