RIA Consolidation? It's Just Getting Started: Execs
August was the third most-active month for both mergers & acquisition transactions and highest client asset volume since Fidelity Investments began tracking the data in 2016.
September 24, 2021
Industry Lobbyists Urge More Time on DOL’s Fiduciary Rule
Sifma, the U.S. Chamber of Commerce and others want an extension of a temporary enforcement policy on exemptions.
Wealth Firms Combine with SPAC to Form $54B Global Shop
After the close of the deal, expected in the first quarter of 2022, Alvarium Tiedemann’s common stock will become publicly traded on Nasdaq.
Multiemployer Pensions Set to Run Out of Money, Despite Rescue Deal
A rescue package from President Joe Biden’s administration doesn’t address the funds being unable to earn higher return rates, FundFire reports.
On FinancialTimes.com
So You've Vetted Your Tech Vendor. Do it Again. And Again
Emails and file sharing are potentially the biggest cyber vulnerabilities of many firms, according to one executive.
Citizens Shopping for Deals to Bulk Up Wealth Biz
The country’s fifth-largest regional bank by assets has come close to making several deals but walked away because of high prices, Bloomberg reports.
Industry Moves
Mariner Wealth Acquires $2.7B Wealth Mgmt Practice
The latest addition — the firm’s sixth since July— is FCG Advisors.
Employee-Owned Coldstream Merges with $463M RIA
The latest deal involves Rosenbaum Financial, which Coldstream says it completed without private equity funding.
OneDigital Rolls Out Retirement Services for Small Businesses
The new offering combines investment management of retirement plans with financial wellness and coaching.