Page 14 - David Devoe News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Peter Mallouk's Employees Take Equity in Creative Planning Some 10% now have a stake in the fast-growing RIA. 'We anticipate that the percentage that’s owned by employees should increase every year from now and ongoing,' Mallouk said. Creative Planning Chief Executive Peter Mallouk opened equity to employees inside the fast-growing registered investment advisory firm, with 10% of the workforce, or some 86 people, now partial owners, according to a company announcement. Mallouk would not reveal the names of the firm's new principals but said it was largely those with long te...

The unquenchable thirst for wealth management With M&A in the RIA space setting records, the focus turns naturally to the seemingly irreversible influence of private equity money. February 22, 2021 8 MINS With $5 billion in assets under management and nine acquisitions under its belt, some might assume Merit Financial Advisors is hitting all the right notes for building scale in the modern wealth management industry. In reality, the 22-year-old advisory firm has reached the level at which the deep-pocketed world of private equity capital and expertise steps in to rocket ...

The acquisition furthers Captrust's hold in the retirement plan space, now at over $600B AUA. Captrust continues to deepen its hold in the institutional retirement services market.  Captrust announced Tuesday that it acquired Cammack Retirement Group, a 50-year-old company with $154 billion in assets under administration, bringing Captrust's total retirement plan assets under administration to over $600 billion. “CAPTRUST is coming out of the gates strong in 2021,” said David DeVoe of consulting firm DeVoe & Company in San Francisco, in an email. “After five deals in 2020, t...

Universe Apart Folksy and earnest, Duran, 53, is a unique emissary for the investment bank. His Horatio Alger-esque background — something the company likes to highlight — is a universe apart from the typical resume of a Goldman managing director. After a hardscrabble upbringing in what he describes as a broken family, Duran arrived in the U.S. at 19 with $200 to his name. He went on to found and sell first an investment firm and then United, which he was estimated to own about 10% of at the time of the sale. Duran declined to comment on his stake. The author of three financial self-he...

MAI Capital Buys $700M HW Financial Advisors MAI Capital was one of the most active RIA acquirers in 2020, leading a charge for mid-size firms. Cleveland, Ohio–based MAI Capital is acquiring HW Financial Advisors, an affiliate of accounting firm Howard, Wershbale & Co (HW&Co) in Beachwood, Ohio. MAI Capital made the announcement Wednesday.   HWFA will continue its relationship with HW&Co but under the new management of MAI Capital, according to the announcement. HWFA is a 20-year-old registered investment advisor managing $700 million in client assets and headed by Stephen Rudolph...