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…

(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…