(Bloomberg) — Private equity investors see a growing number of “zombie funds” tying up their money, according to a survey by secondary asset manager Coller Capital. Almost 50% of pension funds, insurers or other investors already have money in funds that have little hope of liquidating their assets or raising a successor vehicle, while 28%…

Lido Advisors, a Los Angeles-based registered investment advisor with $20.6 billion in assets under management, has acquired Shore Morgan Young, an RIA with over $615 million in AUM in New Albany, Ohio. The area has quickly become a tech hub and dubbed “The Silicon Heartland,” with a number of new construction projects from Intel, Facebook,…

Merchant Investment Management, a New York-based private partnership that provides growth capital and other support to independent financial services firms, is in the process of completing a recapitalization. According to Tim Bello, co-founder and managing partner of Merchant, the firm expects to double its balance sheet. As a result, the partners will not sell any…

Focus Financial Partners announced four executive appointments on Monday, including the installation of former Apollo Global Management COO David Lang as the firm's new COO. According to the New York-based RIA aggregator, Lang will lead “the optimization of Focus' operational efficiency and strategic corporate functions.” Connected: Focus moves six Connectus business lines to Colony Group,…

Cetera Financial Group has hired another former Fidelity executive, naming Jerry Patterson as head of advanced wealth solutions, a newly created position. Patterson, the former president of Fidelity Investments Life Insurance Company, will build Cetera's retirement, life insurance and annuity products available to the firm's advisors. At Fidelity, Patterson helped the firm's advisors and RIA…

Recent moves by two non-traded REIT sponsors to anticipate rising redemption requests for their non-traded REITs may spook some investors. However, industry analysts said both companies are doing the right thing for their shareholders. after facing increased redemption requests for over a year, the net asset value REIT industry is currently testing the limits of…

As leading 401(k) record keepers gathered in Washington, DC, June 4-5 for the sixth annual RPA Record Keeper Roundtable and Think Tank during the SPARK/DCIIA Public Policy Forum, Mark Alley at Alerus said “The 401(k) industry k) is entering a second golden age, but needs to overcome problems with scale and implementation.” Like all the…

IN Connelly v. United States, 602 US _____ (2024), the US Supreme Court addressed the narrow question of whether a corporation's obligation to redeem a decedent's stock at fair market value offsets the value of life insurance proceeds received by the corporation in a policy on the life of the decedent when this income is…

Jump, a startup that has built an AI assistant for financial advisors, announced on Monday a $4.6 million funding round led by Sorenson Ventures. Pelion Venture Partners also participated in the round, as well as several strategic angel investors. Connected: Fast-paced communication-focused generative AI for advisors The company's AI assistant enables advisers to record client…

Sponsored byFinancial advisors face a significant opportunity and challenge with estate planning, a critical component of holistic wealth management. However, many advisors lack the necessary tools. Danny Lohrfink, co-founder and chief product officer, of Wealth.com discusses how their platform addresses this gap. Studies show a discrepancy: 93% of clients expect estate planning guidance, but only…