Industry

Perry Santillo and co-conspirators defrauded approximately 1,000 investors out of more than $100 million, according to the Justice Department.

A third of the new managing directors are women, and 10% are Black.

Investors poured a net $104 billion into ETFs in the three months ended Dec. 31 -- a record for the company.

Captrust continues to build out its institutional business with its acquisition of Portfolio Evaluations Inc., a Warren, N.J.–based firm with more than $107 billion in AUA, its third significant deal in that market.

Not all firms participate equally in the M&A frenzy. Successful firms—both buyers and sellers—share these characteristics.

Repetto, CIO at Avantis Investors and former co-CEO of DFA, designed a new index for annuity platform provider DPL Financial Partners.

Hugh Lau is leaving D.A. Davidson to form Lau Financial Group under LPL’s affiliation model for breakaway advisors. In total, 19 teams have joined Strategic Wealth Services since it launched in April 2020.

Mercer’s deal with HawsGoodwin Wealth comes the same week it announced its acquisition of Cordasco Financial Network, a $510 million Florida RIA.

RIA Lawyers, founded by Max Schatzow, Cary Kvitka and Ryan Walter, will work with advisory firms with assets under management between $100 million and $10 billion.