In the face of sharply rising interest rates, headlines about half-empty office buildings and investors pulling money from products, sales of nontraded real estate investment trusts fell hard this year, with the industry raising $9 billion through September after successive years of more than $30 billion in new capital....
Rising costs of acquisitions, higher salaries for employees, and competitive recruiting bonuses for financial advisors, along with the record spike in interest rates, are making it more costly to run large wealth management enterprises. Some are wondering whether that will result in either layoffs a Learn more about reprints and...
In August, B. Riley Financial Inc., which provides services ranging from investment banking to wealth management, said it had invested $216.5 million as part of the $2.8 billion management-led acquisition of Franchise Group Inc. Now the Franchise Group’s CEO, Brian Kahn, is under scrutiny, after a report that Kahn has...
After two acquisitions so far this year, AlTi Global Inc., the giant registered investment advisor that targets wealthy clients, continues to see potential mergers and acquisition targets on the horizon. With $68 billion in client assets, AlTi Global has had a busy year. Since its merger wit Learn more about...
The defunct Titan Securities, a small broker-dealer based outside of Dallas that closed its doors in June, exemplifies how poorly vetted and potentially dangerous investment products wind up in the hands of mom and pop investors, and how the mission of securities regulators to protect investors needs to improve...
With the market dropping precipitously in 2022, registered investment advisors spent much of last year fighting to hold onto clients and soothe their anxieties. The S&P 500 stock index posted a total return last year of of negative 18% last year, eroding the annual organic growth of client a Learn...
Like mother, like daughter. Rita Robbins was unable to attend the annual InvestmentNews Women to Watch awards Tuesday evening and receive the Alexandra Armstrong Lifetime Achievement Award. But her daughter, Ali Arnold, stood in for her mother, founder and president of Affiliated Advisors, a gia Learn more about reprints and...
Clients on Monday won another arbitration decision, this time for $246,000, stemming from a broker-dealer’s sale of bonds from GWG Holdings Inc., a defunct life settlement business that is now in bankruptcy. The arbitration award, under the aegis of Finra Dispute Resolution Inc., was lost by Ages Financial Services...
The broker-dealer network Osaic Holdings Inc. boosted an all-important profitability measure over the first half of the year by almost one-third, according to a recent analysis of the privately held firm. Osaic posted an EBITDA — earnings before interest, taxes, depreciation and amo Learn more about reprints and licensing for this...
Robert W. Baird & Co. Inc. and the Financial Industry Regulatory Authority Inc. said Monday that they had reached a settlement in which Baird pays clients close to $520,000 in restitution for the firm’s failure over a six-year period to give clients certain sales charge waivers and fee rebates...