A Florida-based team with about $490 million in assets under management is joining Raymond James' independent advisor channel from Merrill Lynch. Counsel John Meffert, Warren Scroggie and Ross Davis will operate as Scroggie Meffer Davis and Associates in Ocala, Fla. (client services associate Amanda Bryan will also join the team). Connected: Raymond James Adds $1…

Omaha, Neb.-based Avior Wealth Management. sold a minority stake to Constellation Wealth Capital, private equity firm founded by former Emigrant Partners CEO Karl Heckenberg late last year to invest in the growing channel. Avior represents Constellation's seventh deal to date, with a total of approximately $110 billion in assets under management. Connected: Allianz, Constellation Wealth…

Mercer Advisors, a wealth management and financial planning business with $60 billion in client assets, is expanding its private markets reach with the launch of the Aspen Partners platform. Aspen Partners is a proprietary private markets platform built by Mercer Advisors for the purpose of providing institutional-level access on institutional-level terms to qualified individual investors….

Sponsored by Today, about 87% of US companies with annual revenues exceeding $100 million are privately held.1 Long used by institutional investors as fundamental portfolio building blocks – private market assets have historically demonstrated an ability to provide diversification, improved returns and reduced volatility for investors. , Our 5-Step Guide to Private Markets explores the…

How does the RIA industry justify acquisitions at high-flying multiples while net organic growth stagnates? Assets under management don't tell the whole story. To get a clear answer, we need to look under the hood at the engine driving business growth right now. Connected: Special considerations of pursuing minority stake M&A deals A study published…

Another advisory team that joined JP Morgan Wealth Management after the firm bought First Republic is set to leave. In this case, a Boston-based team led by Brian Nagle, which manages about $1 billion in client assets, is leaving JP Morgan for Citizens. Connected: Cresset adds $5 billion to ex-First Republic teams by fleeing JP…

A pair of Los Angeles-based advisors with more than $300 million in client assets are joining SLK Private Wealth, a Sanctuary Wealth partner firm, from Wells Fargo. Adam and Eleanor Weinstock move to SLK comes two years after a team of 13 Wells Fargo advisors left the wire to form SLK under Sanctuary. Connected: The…

Missouri is the latest state to warn advisers about using popular wealth technology platforms that access client assets held in accounts such as 401(k) plans and banks. In a letter sent to more than 40 state-registered advisers, the Missouri Division of Securities said the use of the tools, which rely on client login credentials to…

(Bloomberg) — Banking giants that once had more ground to lose to the emerging world of private lending continue to find more ways — and a lot more money — to pump into the sector. For years, the threat was that direct lenders would oust incumbents by luring customers away from the corporate loan business….

(Bloomberg) — Before 12 New Yorkers convicted Donald Trump of being a criminal, a very different jury — one assembled at the luxury Pierre Hotel on Fifth Avenue — had reached a verdict of its own. Even if the courtroom jury found him guilty as charged, wealthy Wall Streeters concluded in Pierre, he would still…