AI drafts, humans decide: the new advice divide
Survey finds 72% of Americans want a human leading AI-supported financial decisions.
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All Private Wealth Daily reporting, newest first.
LPL, Cetera, Raymond James, NewEdge add advisor teams
A four-firm hiring week pulled about $534 million in disclosed client assets into the independent channel.
July CFP exam draws record turnout; pay premium grows
A record July exam class and a 15% pay increase point to a younger, better-compensated advisor pipeline.
Diversify adds Texas and Boston practices, crosses $14B
Two practices joined the Sandy, Utah platform with nearly $400 million in assets, lifting the firm past $14 billion without outside capital.
Arbo buys Cone CPA, adding tax and CFO services
The Atlanta firm adds human tax and CFO expertise atop its IRS-transcript engine.
Schwab CEO credits Fidelity retreat for record RIA inflows
Schwab logged $80.2B in Q2 net-new RIA assets; Wurster ties the surge to Fidelity's long/short financing hike.
Blackstone sells BREIT's easiest exit to fund its longest bet
Selling self-storage to build data centers, BREIT trades cash-out speed for a wait on AI returns while redemption queues lengthen.
Crowd Street and Equity Trust shorten the retirement route to private funds
A shared login and streamlined account links cut friction for moving self-directed IRA money into private-market strategies.
Wealth's talent war moves to the C-suite
Four C-suite hires in one week show the wealth talent war moving from advisor teams to the executives who control distribution, recruiting, and planning.
Stratos Wealth's 12th SEI-era deal adds $400M Illinois partner
The Naperville firm adds $400 million and a new state to Stratos's SEI-backed network.
Kestra hires BlackRock's Kelly Apple to lead wealth management
The Austin broker-dealer and RIA ends a year-plus search by putting a BlackRock distribution veteran in the post its president had been covering.
UC Investments sells $1 billion private equity block to HarbourVest
A roughly $1 billion private equity sale by UC Investments shows what institutional liquidity in the secondaries market costs right now.
Invesco puts a CIO at the center of its custom solutions bet
A unified platform with separate global and investment chiefs sets a template for asset managers courting RIAs and family offices.
Conte Wealth leaves Cambridge for LPL with $1.4 billion
The Harrisburg, Pennsylvania firm's exit from Cambridge is the latest evidence that in the independent channel, size has become the winning pitch.
Cohen & Steers' new realty fund takes in $50M
The filing adds a private realty vehicle to the asset manager's push for wealth allocator capital.
Avenir Growth fund closes at $48.9 million in eight days
A Form D shows the private equity vehicle was fully subscribed by the time it reached EDGAR.
JR Wealth Management adds online reputation defense
The New York firm now advises clients on search results and AI summaries that precede the first meeting.
AdvisorFinder Intelligence grades RIAs' AI visibility
Pricing starts at $99 a month; the service scores appearances in ChatGPT, Claude, Gemini and Perplexity.
Edward Jones takes hybrid platform direct to next-gen investors
The brokerage's Digital Managed Solutions pairs an app with a human, aiming to capture Gen Z and millennial clients before they need a full advisory account.
Managed accounts become the private-markets front door
Schwab, Morgan Stanley, and Invesco are routing alternatives through managed accounts, redrawing the economics and changing how advisors reach illiquid assets.
MAI's double RIA deal is a bet on geography
The Carlyle-backed firm enters Atlanta and deepens California, moving from accumulating assets to owning specific markets.
Specialty evergreen structures are outgrowing interval-fund staples
3(c)(7) funds and operating companies are pulling ahead of interval funds as asset managers push private-market strategies to wealth clients.
Siebert and Unusual Whales to build ETFs from market data
The partnership tests whether a retail following built on market data can win the advisor trust most ETF launches never get.
Security Benefit's Blueprint annuity lands on Barron's 2026 best list
The three-year surrender charge is the feature RIAs should weigh most.
Trust decides who gets to deploy AI in wealth management
AI is moving from drafting to acting. The firms that can say who answers when it goes wrong will be the ones trusted to deploy.
O'Reilly family practice leaves LPL for Osaic with $250 million
A second-generation St. Louis practice joins Millenia Investments, headed by the founder's onetime protégé.
Citi Wealth hires J.P. Morgan trusts chief for global planning role
Adam Clark, who ran a 500-professional global trusts and estates operation at J.P. Morgan, will lead Citi Wealth's planning chain from November.
LPL recruits $160M Edward Jones advisor Chris Stockton
The hire puts LPL in the business-exit niche, where advisors who guide owners through transitions are a growing recruiting target.
Wealth Enhancement buys a $644 million Washington State tuck-in
The Olympia, Wash. acquisition pushes the Minnesota consolidator past $160.7 billion and extends a summer run of niche-focused purchases.
Confluence launches POINT to cut manual report-validation work
The AI layer plugs an automated checklist and a plain-English interface into Confluence's existing products.
Schwab and Morgan Stanley push managed accounts into awkward territory
With platform breadth becoming a competitive lever, the moves give advisors new vehicles for long-short equity and private-market access inside managed accounts.
AI forces the data-warehousing question at RIAs
Client files at a typical firm live in four systems. AI needs them clean and in one place.
Edward Jones's Quicken stake attacks the planner's organizing problem
The brokerage's minority stake puts a consumer finance app inside the advisor-client conversation, betting that organization is where planning begins.
Two veteran Wells Fargo teams take $580M to Ameriprise and Janney
The disclosed summer departures from the wirehouse now top $5 billion as Janney and Ameriprise pick up veteran teams.
Invesco unifies custom strategies across public and private markets
The platform overhaul lands as advisors push for personalization, with retail SMA assets on pace to hit $3.6 trillion by 2026.
Carlyle-backed MAI buys two RIAs and enters Atlanta
Two Tuesday deals put the Cleveland RIA in Atlanta and extend its California reach. MAI is shifting from scale-building to market-by-market buying.
Private-markets gateways become a global land grab
J.P. Morgan exports its institutional PE strategy to Australia just as Neuberger's buyback halt and private credit bond issues test the semi-liquid pitch.
Conte Wealth moves $1.4 billion from Cambridge to LPL
LPL stands to gain a 20-advisor Pennsylvania team; Cambridge's recruiting strength faces a retention test.
Carson hires Osaic's Peterson to lead independent channel
A three-decade veteran of TD Ameritrade and Goldman Sachs will now sell Carson's partnership model to independent advisors.
Two UBS veterans launch Naples RIA after two-and-a-half-year process
Jason Stephens and Mic Lundon left UBS after more than four decades combined to open Evertern Wealth, a Naples, Fla., RIA built for high-net-worth clients.
Vanguard bends to RIAs, and John Bogle's ghost winces
Vanguard's model portfolio reset trades revenue and control for market share, with Orion, Black Diamond, and Vestmark collecting the overlay fees.
ETF launches fail from a trust deficit
Advisor trust, not capital, determines which ETFs survive. The winners earn it before launch.
Direct deals define the newest family offices
New family offices are skipping hedge funds and private credit for direct deals and private equity, a shift that is reshaping how managers court them.
MAI buys $490M Waypoint to enter Atlanta
The Carlyle-backed firm makes its first Atlanta acquisition, adding a boutique with wealthy clients and two proprietary funds.
Neuberger Private Equity Partners cancels buyback tranche, shares now 39,918,190
The cancellation leaves the listed private-equity vehicle with 39,918,190 shares outstanding, a reference point for discount-watching allocators.
Brightstar and Coatue file private equity fund forms
Brightstar and Coatue filed SEC Form Ds for two private equity vehicles apiece, each with no capital sold yet.
De Leon brings patient capital to RIA minority stakes
Leon Financial Network's minority-stake model offers wealth managers an alternative to the private equity roll-up timeline.
Khanna's loan-for-shares tax plan draws Cuban 'insane' blast
The California wealth-tax proposal would make the state a residual owner of pledged private shares, an arrangement family offices should read closely.
J.P. Morgan brings its institutional private equity strategy to Australian wealth clients
A private equity staple moves from institutions to wealthy Australians as private-market gateways face their first real liquidity test.
Exit plans break when value, liquidity, and succession run on separate clocks
An InvestmentNews webinar featuring LPL Financial's Jeremy Holly explores why owners should plan value, liquidity, and succession together long before a deal appears.