Industry

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.

The advisors will be based in the Miami location for the division of Raymond James. The company has added 18 total advisors to that office just this year, with total client assets of $3.3 billion.

The survey from Herbers & Company found that individuals with assets exceeding $1.2 million and benefiting from the services of an advisor displayed far more satisfaction than those that did not.

Arete Wealth will also distribute Masterworks’ new Diversified Art Portfolio, a Regulation D private placement, which the firm expects to make available to other RIAs and broker/dealers eventually.

Raymond James President John Carson and Raymond James Ltd. Chairman and CEO Paul Allison are both stepping down come Dec. 31.