Industry

The New Orleans-based broker-dealer and RIA will come onboard as an office of supervisory jurisdiction and retain its brand when joining with the Dallas-based Prospera.

FNZ's infrastructure is used by more than 150 banks, asset managers and life insurers to oversee more than $1.5 trillion in assets. 

The teams cumulatively manage more than $560 million in assets and are based throughout the Lone Star State.

Focus Financial Partners laid out its lofty growth goals for the next four years, with plans to reach $4 billion in revenue, $1.1 billion in EBITDA and 125 partner firms.

Matthew Clason had previously worked with LPL and Lincoln Financial Advisors before being accused by both the DOJ and SEC of stealing from a 73-year-old Connecticut investor over several years.

The addition of the $674 million firm will boost WEG’s total number of client assets above $55 billion; it’s the company’s 16th deal in 2021.

The RIA M&A market may be hot, but advisors should proceed with caution, said speakers at the MarketCounsel Summit this week.  

Captrust's acquisition of the $2.2 billion firm will be its 53rd since 2006. One Captrust executive says the move will boost family office services for clients.

Dynasty will deploy The SmartRIA Pro platform across its network firms, while MarketCounsel will use a customized edition of the platform with its RIA clients.