Another half year has passed by with blazing speed, and we find ourselves already in the third quarter of a year filled with events both predictable and surprising. We continue to see major transactions in the industry, AI influence grows and recruiting remains at top of mind for many advisors. This week, we recap our top 10 stories of the first half of 2024.
We also bring you our weekly Deals & Recruiting Roundup, our monthly Investments Roundup, Integrated Partners’ partnership with Wealth.com, Invest in Others’ award finalists, Kingswood U.S.’s latest hire, World Investment Advisors’ $3.5 billion acquisition, Halo Investing on structured notes and the launch of Serenus Wealth Advisors.
Deals & Recruiting Roundup: This edition covers CW Advisors acquiring Cubic Asset Management and Mercadien Asset Management, Focus Financial Partners agreeing for Gratus Capital to merge into The Colony Group, World Investment Advisors acquiring Boston Harbor Wealth Advisors, Modern Wealth Management acquiring C&J Wealth Advisors, Serenus Wealth Advisors launching, Avantax recruiting S&P Financial Services, Arkadios onboarding Gulf Coast Wealth, Prospera recruiting Up the Graph Financial Group, Integrated Partners teaming with Wealth.com on estate planning, RFG Advisory promoting Shannon Spotswood to CEO, Lido Advisors appointing Henry Hagenbuch as Head of M&A and RBC recruiting The Callot Wealth Management Group.
Investments Roundup: Meet our newest Investment Solutions Leader of the Month, Rana Wright, Partner and Chief Legal and Administrative Officer at Harris | Oakmark. Other entries include Morningstar Wealth releasing an asset class conviction report, iCapital partnering with Ashton Thomas on alts, Raymond James Investment Management appointing Mo Sparks as Head of ETFs, Abacus Life agreeing to acquire Carlisle Management Company, BlackRock launching the iShares U.S. Manufacturing ETF, T. Rowe Price launching its Intermediate Municipal Income ETF, CAIA releasing a report on advisors’ hurdles with alts, Kingswood U.S. building out its investment banking group, Cerulli finding that advisors have little appetite for crypto, HFR finding that that total hedge funds assets reached $4.31 trillion, and Franklin Templeton launching SMA and Managed Options Strategies at UBS.
Recent history: Our review of the top 10 articles of the first half of 2024 includes Pathfinder Awards, recognition lists, AI, breaking away from the wirehouse, marketing advice, Binah’s direction after its public listing, LPL Financial’s acquisition of Atria, iCapital’s acquisition of Mirador and more.
Reducing risk: Jason Barsema, Co-Founder and President of Halo Investing, discusses client anxiety during an election year, and walks through how to soothe nerves by reducing risk in a client’s portfolio using structured notes.
Estate planning integration: Integrated Partners and estate planning platform Wealth.com entered into a strategic partnership they said will give Integrated advisors access to next-generation estate planning tools and allow for an even more holistic view of clients’ increasingly complex financial lives. Integrated Partners President, Andree Mohr, and Wealth.com Co-Founder and Chief Partnership Officer, Tim White, provide comments.
Supporting charity: The Invest in Others Charitable Foundation announced 15 advisor finalists across five award categories, who will be honored at the 18th annual Invest in Others Awards on Sept. 19. R. Barkley Payne, Executive Director of the Invest in Others Charitable Foundation, comments.
I-Banking expansion: Kingswood U.S. hired Tony Tian as Senior Managing Director of Investment Banking to strengthen the team’s capital markets capabilities and coverage in Asia. Tian and CEO, President and Managing Partner Michael Nessim comment.
Massachusetts acquisition: World Investment Advisors bought $3.5 billion Boston Harbor Wealth Advisors, bringing its assets under management to $11.5 billion, just a week after rebranding from Pensionmark. Boston Harbor CEO Matthew Davis and World CEO Troy Hammond provide commentary.
Santa Monica launch: Veteran wealth advisor Kara S. Boccella founded Serenus Wealth Advisors, a Santa Monica, California-based independent RIA whose team oversees $1.2 billion in client assets. Boccella and Devon M. Galindo are Partners at the new firm.
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Larry Roth
CEO
Wealth Solutions Report
