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Focus Moves Connectus Firms to Colony Group, Kovitz

RIA Edge
 
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RIA Edge Newsletter

JUNE 4, 2024

Top Stories

Focus Shifts Six Connectus Business Lines to Colony Group, Kovitz

Patrick Donachie

The moves mark the latest examples of consolidation at the RIA aggregator; earlier this year, the firm merged The Colony Group with Buckingham Strategic Wealth.

FULL ARTICLE

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WealthManagement.com Announces 2024 'Wealthies' Finalists

WealthManagement.com Staff

The tenth annual WealthManagement.com Industry Awards ceremony will be held in New York City on Sept. 5.

FULL ARTICLE

WMIQ RESEARCH REPORT

Client Cash: Mapping an Underexplored Opportunity

In partnership with Flourish

Ninety-two percent of advisors report that their clients have expressed interest in HYSAs.

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New Dynasty-Backed RIA Sued By Former Firm

Diana Britton

Salomon & Ludwin has filed a lawsuit against former employees who launched Founders Grove Wealth Partners, claiming they breached employment contracts and stole trade secrets.

FULL ARTICLE

Goldman Sachs Plans to Court RIAs with Alternative Investments, Customization

Elaine Misonzhnik

“We see the broad RIA community as a very attractive client base for Goldman Sachs,” according to President and COO John E. Waldron.

FULL ARTICLE

WMIQ RESEARCH REPORT

Interest in M&A Swells Along With Firm Valuations

In partnership with Cambridge Investment Research

As the economy stabilizes, financial advisors are recognizing the benefits of mergers and acquisitions.

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RIA News

Constellation Stakes $4.1B Omaha RIA

Diana Britton

Avior Wealth Management represents Constellation’s seventh deal since its inception, bringing its assets under management to about $110 billion.

FULL ARTICLE

Mercer Expands Private Market Access with Launch of Aspen Partners

David Bodamer

Mercer built the Aspen Partners platform for qualified purchasers in conjunction with Opto Investments.

FULL ARTICLE

Wealthcare Launches New RIA Affiliation Model

Diana Britton

Wealthcare Capital Partners aims “to meet the needs of select advisors interested in joining Wealthcare.” It has already recruited a Towson, Md.-based advisor with nearly $141 million in assets.

FULL ARTICLE

Wealth Enhancement Group Picks Up $1.2B Houston RIA

Diana Britton

The Financial Advisory Group has seven advisors and 14 support staff, and is WEG’s fifth acquisition this year.

FULL ARTICLE

David Canter Joins Board of $7.5B RIA Parallel Advisors

Diana Britton

The former Fidelity and Bluespring exec will serve on the board of directors at Parallel Advisors, a San Francisco-based RIA backed by private equity firm Golden Gate Capital.

FULL ARTICLE

MAI’s Parent Galway Launches Sports and Entertainment Platform

Diana Britton

GalwayPlus will be an “ecosystem” that links together businesses across Galway Holdings to better serve sports and entertainment clients.

FULL ARTICLE

Stratos Adds Second Team in As Many Weeks in Its Backyard

Diana Britton

Pistone Wealth Advisors brings $120 million in client assets from Beacon Financial Advisory.

RELATED:  Stratos Recruits $100M Duo in Ohio

FULL ARTICLE

Podcasts

RIA EDGE PODCAST

RIA Edge Podcast: Insights From Wealth Enhancement Group's Jeff Dekko

WEG CEO Jeff Dekko shares his company’s approach to staffing models, strategic decision-making and the significance of organic growth in the financial advisory industry.

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ADJUSTED FOR RISK PODCAST

Who Owns Wealth Management?

Ryan Nauman

Steward Partners' Jim Gold details the major trends in the industry, including the future of hybrid RIAs, the impact of private equity and concerns about succession planning.

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What's In My Wealthstack

WealthChoice: Using Tech To Serve Women Breadwinners

Rob Burgess

Bridget Venus Grimes, founder of WealthChoice and co-founder of Equita Financial Network, explains how her $90 million AUM firm uses its tech stack to help women tech workers, attorneys, founders and business owners navigate financial challenges.

FULL ARTICLE

Commentary

BUSINESS PLANNING

RIAs Face a Growth Imperative and It’s Not About AUM

Chad Druvenga

How does the RIA industry justify acquisitions with high-flying multiples while net organic growth stagnates?

FULL ARTICLE

BUSINESS PLANNING

Special Considerations of Pursuing Minority Stake M&A Deals

Lou Camacho

Buyers and sellers must commit to one another through good and bad market cycles, knowing that a divorce could be messy and expensive.

FULL ARTICLE
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