(Bloomberg) — Chief Executive Officer of Apollo Global Management Inc. Marc Rowan is seeing the public and private markets converging with the latter attracting more competition for trading on Wall Street. Rowan said Apollo will remain disciplined as it continues to grow its assets under management and that its biggest constraint will be finding enough…

Pathstone, a private equity-backed multifamily office based in Englewood, NJ, has signed an agreement to acquire Hall Capital Partners, a long-term, bicoastal registered investment advisor with $45 billion in client assets. The combination will create an RIA with approximately $160 billion in assets under advice and administration and $100 billion in assets under management. Pathstone…

Sponsored by The massive affluent segment is a goldmine waiting to be tapped, representing a staggering half of today's total investable wealth of $42 trillion. In serving this segment, wealth management firms are just scratching the surface – providing only a fraction of the targeted attention they deserve. This group, with the highest projected growth…

Kestra Holdings has been recapitalised, with private equity firm Stone Point Capital returning to take a majority stake in the company. As a result, private equity firm Warburg Pincus will exit its majority investment, which it was made at the beginning of 2019. Oak Hill Capital, another private equity firm, will hold its minority stake….

Kristy Britt has been named Osaic's new chief financial officer, replacing Jon Frojen. Britt started her new role on Monday and joins Osaic after a long stint with Thomson Reuters. Most recently, she was head of finance for operations and technology, leading programs related to digital enablement, customer experience, cost reduction and AI generative efficiency,…

Journey Strategic Wealth, a registered investment adviser partnership with almost $4 billion in assets, has acquired a sole practice in Colorado Springs, Colo., and hired a veteran adviser from Charles Schwab. Financial advisor Jill Isbell has integrated her firm, Creative Financial Services, into Journey. It brings approximately $75 million in assets and establishes Journey's Colorado…

Merrill Lynch Wealth Management added almost 4,800 net new clients in the third quarter, remaining “relatively consistent” with prior periods and a satisfactory result “given the quieter summer months,” said the co-president and co-head of Merrill Lindsay Hans, during an estate. -Specific call for third quarter earnings. However, the firm saw a significant change in…

Alternative investment platform CAIS has launched CAIS Advisors, an RIA division designed to help financial advisors improve portfolio construction. The division plans to offer advisory services, customizable model portfolios focused on alternative investments and registered multi-manager solutions. Neil Blundell, the firm's chief investment officer, will lead CAIS Advisors. A survey of asset managers and third-party…

Global alternative asset manager Apollo has launched two products aimed at giving investors access secondary with many assets. The products include Apollo S3 Private Markets Fund (ASPM US), a perpetual tender offer fund open to US accredited investors, and Apollo S3 Private Markets Lux (ASPM Lux), which will be part of the investment platform Apollo…

Carson Group has acquired Sweet Financial Partners, a Fairmont, Minn.-based registered investment adviser with $1 billion in assets under management. It's Carson's second-largest deal to date. Sweet Financial is led by Managing Partner and founder Bryan Sweet, who has been a longtime member of Carson Coaching, the firm's advisor training service. The firm's 12-person team…