News

The advisor moves, mergers and acquisitions you may have missed over the week ending Aug. 6.

Byron Trott, the 62-year-old founder of BDT Capital Partners, has quietly amassed a $3.6 billion fortune, making him as wealthy as some of his better-known clients.

Across an industry that was already split on returning to work, policies are diverging more than ever.

In this week’s fund news, Alerian buys ETF Trends and ETF Database; fund companies are giving VC firms a run for their money; and crypto asset manager Grayscale hires a new head of ETFs.

With a $50 million Series B in the rearview mirror, Altruist hired Grace Mellis as its first chief financial officer and Adam Grealish as its first head of investments.

LPL has added bookkeeping as well as a social media tool to its menu of subscription-based business outsourcing services.

Serafini Financial Network, an 11-person team with four advisors and $853 million in assets, is WEG's ninth acquisition this year.

Legend Wealth Management added two executives from JPMorgan Chase, with plans to boost staff from 40 to 50 by the end of the year.

Focus CEO Rudy Adolf said the RIA industry overall should be doing 200 to 400 more deals a year.