RIA News

The deal, expected to close in the fourth quarter of 2024, will bring Kovitz’s assets to nearly $30 billion.

The deal with FinTrust Capital Advisors adds $2.39 billion in AUM and expands Wealth Enhancement Group’s presence in the Southeast.

Altium, which has offices in New York and Connecticut, is adding Kimblery Clouse and Kristen Caseley to expand its footprint in the Northeast.

Mercer Advisors, Savant, Beacon Pointe and Credent are among the RIAs announcing acquisitions on Tuesday.

Josh Hederick filed his complaint in North Carolina federal court, alleging that Edelman’s litigation record means he can’t trust they’ll work with him on his departure “in good faith.”

CEO Peter Mallouk will keep his majority stake and continue to lead the firm. TPG will join General Atlantic, which made its own minority investment in the firm in 2020.

Caitlin Douglas, former managing director of transition services and co-head of service at Dynasty Financial Partners, has joined Jim Dickson's new firm to lead operations and service.

A team of 14 professionals has launched Matauro, which will use Fidelity for custody and Purshe Kaplan Sterling Investments for brokerage business.

In other RIA news, Merchant stakes an investment banking firm, Focus partner firm Transform Wealth buys fellow Denver business Custom Portfolio Group, and Cetera's employee RIA acquires an Austin-based practice with $185 million in assets.

The deal values the RIA integrator at around $1 billion, according to a Reuters report.