Tuesday marks the first day of the final quarter of the year, and some of the largest registered investment advisers used it as an opportunity to announce deals. Mercer Global Advisors, the Denver-based RIA majority owned by Oak Hill Capital, Genstar Capital and Altas Partners, has acquired Kiely Wealth Advisory Group, a North Carolina-based RIA…

LPL Financial, the independent broker/dealer with more than 23,000 advisers, said its board of directors has fired President and CEO Dan Arnold for violating the company's respectful workplace policies. He has also resigned from the board. Rich Steinmeier, managing director and chief economic growth officer, will serve as interim CEO, effective immediately. In a statement,…

Financial services firm Edward Jones today launched its professionally managed SMA, focusing primarily on US-based large-cap stocks. SMA will be available exclusively to customers enrolled in Edward Jones' existing UMA program. It will offer between 40 and 60 large-cap securities, mostly focused on US-based companies with a market capitalization of over $10 billion. The SMA…

During its investor day, Apollo Global Management, a New York-based firm with $696 billion in AUM, set out a new set of ambitious growth targets over the next five years, including growing its assets from the global wealth channel to 150 billion dollars by 2029. . “Advisors and their clients now understand that the public…

A North Carolina adviser is asking a federal court to strike down his non-solicitation bond with his former employer Edelman Financial Engines, calling it “overbroad” and “not reasonably tailored to protect legitimate business interests”. Josh Hederick filed suit last week in North Carolina federal court against Edelman. According to SEC dataHederick first registered with Merrill…

Wealth advisers and asset managers expect a boost in flows to actively managed fixed income strategies in the wake of lower interest rates, FundFire reports. Schwab Asset Management is splitting shares in two-thirds of its ETFs in an effort to boost sales. These are among the investment must-reads we found this week for wealth advisors….

InvestCloud, a major technology provider for the advisory and wealth management market, announced a new strategic direction, updated its corporate logo and website and introduced a tagline: Wealth Connected. This new label points to a world where personalization, or hyper-personalization, is customer expectation and a world where “human-centered design that can elevate that relationship” will…

In this fascinating talk, Auxesys founder and CEO John Swystun shares his insights on how RIAs can capitalize on the evolving customer journey due to large wealth transfer. John also discusses what RIAs can learn from SAAS companies as they strive for hyper-growth and his contrasting views on building brand awareness, increasing lead generation and…

(Bloomberg) — The chief executive of Charles Schwab Corp. Walt Bettinger will step down at the end of this year, handing over the role to President Rick Wurster after the firm said three months ago it would revamp its banking unit. Bettinger, who turns 65 next year, has led Schwab since 2008, the company said…

At the 10th Annual Wealth Management Industry Awards, Peter Nolan, EVP, Sales & Strategic Partnerships, Pontera discusses how his firm allows advisors to provide their clients with integrated advice on all of their assets, including 401(k) plans to help grow organic AUM. Source link