Carlyle Makes Growth Investment in CAPTRUST
Equity from Carlyle will be used to advance CAPTRUST’s M&A strategy in both wealth management and retirement, says CAPTRUST president.
Advisory M&A
Crabbe joins Cetera Advisor Networks; Integrity acquires Invictus Marketing Solutions; R&R Wealth Management selects Commonwealth; and more.
Retirement Industry People Moves
Hopkins parts ways with Carson Group; CalPERS CIO Musicco will step down; Nuveen names Nelson global head of public product; and more.
Adviser Product Partnerships
The Standard and NFP launch PEP solution; Flywire and Vestwell partner to streamline 529 college plan payments; CalSTRS and Sapphire Partners invest in next-generation VC managers.
OneDigital Makes 6th Acquisition This Year, Fueling Southeast Expansion
The aggregator added wealth manager Triad Financial to join its five previous wealth or retirement advisement acquisitions so far this year.
Advisory M&A
Cetera acquires tax-focused wealth manager Avantax for $1.2B; Investment Consulting Group joins Osaic; Hub International acquires assets of Dieffenbach Benefits Group; and more.
Prudential, Warburg Pincus Partner on Reinsurance Firm
The two financial firms are launching Prismic Life Reinsurance with $10 billion in reserves.
Retirement Industry People Moves
Newfront hires Lumban as retirement plan consultant; Vestwell selects new VP; PGIM hires Adler as private alternatives CEO and president; and more.
Alera’s Retirement Unit Adds Financial Wellness Director
Alera's retirement and wealth services divisions also name new chief investment officer.
Future Capital Inks Deal With Puerto Rico’s Banco Popular
Advisers and plan sponsors working with Banco Popular will have access to Future Capital’s 401(k) managed accounts and personalized savings guidance technology.
Advisory M&A
Pensionmark adds RIA Financial Solutions; First Trust acquires Gyroscope; Atria announces purchase of Grove Point; and more.
Retirement Industry People Moves
The Standard names new national retirement sales directors; Wescott joins NFP as a VP; Index Fund Advisors hires Higgins as SVP, institutional adviser.
TPA Strongpoint Partners Adds Pension Financial Services to Network
Strongpoint will have more than 4,000 plans and $7B in assets under administration with the deal.
Goldman Sachs Sells Personal Financial Management Unit to Creative Planning
The transaction is expected to close in the year’s fourth quarter.
Advisory M&A
Creative Planning adds CTB Financial Services; TFS Wealth Management joins Pensionmark; Highland Private Wealth sub-acquires Trellis Advisors; and more.
Retirement Industry People Moves
Early assumes role of chief strategy officer at Vestwell; Principal selects Dessouki as chief marketing officer; Puerto joins J.P. Morgan Private Bank as head of retirement plan solutions.
Future Capital and Wealth Advisory TLG Partner On 401(k) Investment Management
Deal to connect 401(k) accounts to wealth advisory signals further push in retirement and wealth management convergence, says Future Capital CEO.
Goldman Looks to Shed RIA Arm, Will Continue Third-Party Custody Push
While the firm is looking to divest the results of its 2019 acquisition of United Capital, it will continue to push into third-party asset management and custody businesses.
Advisory M&A
Innovest adds Jansson as retirement plan consultant; Wealth Enhancements adds $341M First Capital Advisors; Latimer joins Steward Partners in Florida expansion push; and more.
The PLANADVISER Interview: David Musto, Chair and CEO, Ascensus
The head of Ascensus discusses the importance of partnering with advisers to foster innovation in the retirement plan space.