With its 14th acquisition in as many years, Pathstone is picking up around 150 client households with an average of $19 million in managed assets.
The cuts will affect less than 1% of employees in the wealth-management business, which has about 40,000 workers and is the firm’s largest unit.
The final impact has yet to be determined.
Doris Meister, who has led Wilmington since 2016, will be leaving her role by the end of May.
A House appropriations bill includes a rider that could delay or defund the DOL fiduciary rule. The CFA is urging Congress to stand against it.
