Industry

Private equity veteran Kent Weldon has made a private investment in Venturi Private Wealth, a fast-growing RIA founded by Merrill Lynch veteran Russ Norwood.

The charges against Lina Maria Garcia followed previous ones filed in June against UCB Financial Advisers and her partner, Ramiro Jose Sugranes, for a scheme that allegedly cost clients $5 million.

The Equity Collective includes units of Goldman Sachs Group Inc., Bank of New York Mellon Corp., Pacific Investment Management Co. and Prudential Financial Inc.

InvestCloud could command a valuation of $8 billion to $10 billion in an IPO.

Wealthfront has drawn interest from potential buyers including banks and special purpose acquisition companies.

Like with any relationship, it’s important to have those uncomfortable conversations early.

Hightower will shift to a 50/50 hybrid working model early next year for its over 200 corporate employees; it's also giving its staff more paid time off, and expanded parental leave benefits and the chance to work from anywhere for four weeks a year.

A new alert from the commission’s Division of Examinations found that many RIAs are miscalculating fees and often overcharging clients, risking enforcement actions.

The four-advisor team will create Famiglia Wealth in Bloomfield Hills, Mich., Sanctuary’s first Michigan partner and fifth ex-Morgan Stanley team to join this year.