Industry

The firm will now offer advisory services and customizable model portfolios for alternative investments.

The products will include a tender offer fund open to U.S. accredited investors.

The RIA partnership has acquired a solo practice in Colorado Springs and hired a veteran advisor from Charles Schwab in Orlando, Fla.

In the third quarter, the wirehouse doubled the number of net new clients with $10 million or more in assets from a year ago.

The acquisition of Sweet Financial is Carson’s second-largest deal to date.

Kristy Britt will take over from outgoing CFO Jon Frojen, and will be based at Osaic’s headquarters in Scottsdale, Ariz.

Private equity firm Warburg Pincus exits its investment in Kestra after five years, while Stone Point returns as majority owner.

The suits filed in New York’s Southern District were filed the same day Wells Fargo revealed a $128 million loss in net interest income after the firm raised its sweep deposit rates.

PEAK, which has 120 advisors and about $1.2 billion in assets under advisement, will operate as a separate subsidiary of Thurston Springer.

AlTi CEO Michael Tiedemann says his firm raised a “whopping $980,000” going public via SPAC, but it created a permanent path for the business.