While ultra-high net worth (UHNW) clients bring significant scale to a business, justifying resource expenditures, the clients are aware of their own value and ask for more. To make headway with the ultra-wealthy, advisors need to stay current on what they want. This week, we asked experts to bring us up to speed.
What The Burgeoning UHNW Clientele Wants From Advisors
What do UHNW clients want? We spoke with Rob Sechan of NewEdge Wealth, Jon Foster of Angeles Wealth, Michael Shawn of Peregrine Private Client, Scott Underwood of Socium Advisors and Jon Kennedy of Regis Group about AI, changing client objectives, 2026 predictions and more.
The experts also enlighten us on some of the drawbacks to serving this clientele.
RIA M&A In 2026: Five Forces Set To Reshape The Industry
Emily Blue of Hue Partners predicts RIA M&A for 2026, setting out the top five trends for the new year including digital marketing, AI, legal counsel, accelerating wirehouse departures, a branding shift and mergers of equals.
Blue presents next year’s path forward based on hands-on experience.
The Fed’s Employment Conundrum
Tim Pierotti of WealthVest reviews the Fed’s dilemma between employment and inflation, suggests an idea derived from modern monetary theory and argues that the old Fed ways may no longer work in a new world.
The Fed is entirely different from what it was two decades ago, and Pierotti’s suggestions can add to its search for solutions.
Investments Roundup
This month’s roundup includes reports by BlackRock and Cerulli; cryptocurrency ETFs by Franklin Templeton and VanEck; other ETF launches by State Street and BlackRock; Goldman’s purchase of Innovator; private markets news by AssetMark and Corastone; and more.
Crypto continues to become normalized in the markets with ETFs reaching beyond bitcoin and ethereum to other well-known assets.
Deals & Recruiting Roundup
This week’s roundup includes acquisitions by Waverly, Creative Planning, Mercer, Wealth Enhancement, Allworth and Sequoia; minority stakes by Crestline and Summit; Wealthfront’s IPO; Cresset’s recruit; and appointments by Northern Trust and Wealth Consulting Group.
Robo-advisors don’t make the headlines often these days, but Wealthfront just went on the roadshow for an IPO.
Goldman Sachs To Buy ETF Firm For $2 Billion
Goldman Sachs signed an agreement to acquire ETF firm Innovator Capital Management, based in Wheaton, Illinois, for about $2 billion in cash and equity, subject to performance targets. Innovator managed $28 billion of assets under supervision across 159 defined outcome ETFs as of Sept. 30.
Goldman said the acquisition is part of a focus on “innovative and growing investment categories.”
Mercer Strengthens Presence In Baltimore And Washington With $1 Billion Acquisition
Mercer Advisors announced the acquisition of Glass Jacobson Wealth Advisors, a Maryland-based wealth management firm with about $1 billion in AUM and offices near Baltimore and Washington.
Mercer said this deal adds to its tax and accounting expertise.
Cresset Picks Up $1.4 Billion Advisor Team From Bernstein
Cresset expanded its Houston office by adding a wealth advisory team formerly of Bernstein Private Wealth Management, where it oversaw $1.4 billion in AUM.
This is Cresset’s second recruiting win over $1 billion in weeks, following a $1.8 billion former Goldman team.
Waverly Expands Its Private Fund And Real Estate Strategies With Latest Acquisition
Waverly Advisors acquired the Promus Access and Promus Realty business lines, with about $3.1 billion in AUM as of June 30, from Chicago-based Promus Holdings and its subsidiaries.
The purchase provides Waverly with greater expertise in private equity and real estate, while strengthening its family office services for ultra-high net worth clients and widening its alternative investment services, the firm said.
Prudential Launches Mobile Platform To Boost Advisor Productivity
Prudential Advisors launched an app that adds mobile functionality to its integrated AI-based productivity platform, Prudential Advisors Connect, launched in 2024. The mobile app features client searching with portfolio summaries, a dashboard for leads that integrates phone calls and emails, and Microsoft Outlook scheduling.
The mobile app is the latest enhancement to the firm’s platform, which it said it is continually enhancing based on advisor feedback.
Summit Takes Minority Stake In Rhode Island RIA
Summit Financial took a minority stake in Ivy Wealth Management, adding more than $500 million in assets under administration. This is Summit’s 14th minority stake for the year.
Instead of majority or full acquisitions, Summit stands by an exclusively minority-stake approach, promoting continued control as a key benefit to sellers.
Cambridge Annual Revenue Tops $2 Billion For First Time
Cambridge Investment Research announced that its annual revenue surpassed $2 billion for the first time this year, a milestone achieved on Oct. 31.
The firm said this represents a doubling of its revenue in five years.
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Wealth Solutions Report
