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The Securities and Exchange Commission said the changes would modernize the rules and balance concerns of shareholder proponents and other shareholders, while critics claimed the rule would help CEOs skirt corporate accountability.
First Affirmative Financial Network, the $1 billion AUM Colorado RIA that Goldman Sachs picked up in its deal for Folio Financial, was spun off this week.
Merchant Investment Management said it has taken a minority stake in Newport Beach, Calif.-based RIA Corient Capital Partners, which boasts $3.1 billion in AUM.