Wealthbox, a Providence, Rhode Island-based customer relationship management system for financial advisers, has received a $31 million investment from Frontier Growth, a Charlotte, North Carolina-based private equity firm. The Series B round of financing represents a minority stake in the ...

Dynasty Financial Partners is turning to the public equity markets to support its strategy of helping wirehouse representatives break away to become independent financial advisers. According to the filing with the Securities and Exchange Commission, St. Petersburgh, Florida-based Dynasty is ...

Parthenon Capital, a Chicago-based private equity firm, has entered into an agreement with RSM US, a diversified tax and consulting firm, to acquire Minneapolis-based RSM US Wealth Management, the firm’s registered investment adviser. The advisory firm, which manages $7.46 billion, ...

Retirement plan sponsors considering private equity investments recently got a message from the Department of Labor: Not so fast. On Dec. 22, the agency published a supplement to a letter it issued during the Trump administration, tempering the prior guidance ...

The New York-based RIA aggregator Cerity Partners is bulking up its West Coast presence with the acquisition of Bingham Osborn & Scarborough, a San Francisco-based firm with $5 billion in client assets. The deal, which will push Cerity’s total assets ...

Investment firm KKR has taken a minority stake in the parent company of Beacon Pointe Advisors, a Newport Beach, California-based registered investment adviser that manages more than $20 billion. Beacon Pointe’s management, led by CEO Shannon Eusey, will continue to ...

CI Financial paired the reporting of record third-quarter financial results with the news that it is expanding beyond its pattern of acquiring registered investment advisers by taking a minority stake in alternative investments platform GLASfunds. The investment in the $1.1 ...

Mercer Global Advisors Inc. has acquired Lake Point Advisory Group, a $700 million registered investment adviser based in Dallas. Founded in 2007 by Reid Johnson, Lake Point offers comprehensive wealth management to mass affluent and high-net-worth individuals, families and their ...

The second half of 2021 should break all previously existing records for the number of mergers and acquisitions in the wealth management business. From what I’ve seen, there are three main factors driving the increase. First, valuations of financial planning ...

Fast-growing Chicago-based, multi-family office Cresset Asset Management is boosting its assets under management by more than 30% through the acquisition of Atlanta-based Berman Capital Advisors, a $4.7 billion firm founded in 2010. The deal, which is being described as a ...