Industry

Morningstar analysts attribute the outflows to high financing costs and a concern the companies included in these funds might be penalized for transitioning to new sources of energy faster than the rest of the world.

The $12.5 billion RIA adds locations in Annapolis and Stevensville, Md. with the acquisition of Bay Point Wealth.

Also, Betterment integrates with Daffy, d1g1t launches a UMA framework and Advisor CRM launches.

Front Street Capital Management, which previously used Schwab for custody, has switched to SEI in part because of support for its unique investing activities.

MAG Wealth Management has also sold a 30% stake to Carson Group, and it will become the first Carson Wealth branded location in the state of Minnesota. 

The election outcome means current tax rates are likely to stay, which could enable some dealmakers to take a bit more time closing ongoing acquisitions.