Aviva plc has reported a stellar performance in its Q3 2024 trading update, showcasing resilience and growth amidst dynamic market conditions. The UK-based insurance giant has leveraged its diversified portfolio and strategic focus on customer engagement to achieve double-digit growth across multiple business segments. The update revealed a 15% year-on-year growth in general insurance premiums, […]
Wealth management firms are bracing for a monumental shift as AI budgets are projected to more than double, according to a new Wipro survey. With AI investments expected to jump from 16% to 37% of IT budgets over the next few years, the industry is undergoing one of its most significant transformations yet. This surge […]
Raymond James Financial Inc. (NYSE: Raymond James) has experienced a notable surge in its share price following the release of its quarterly earnings report, which surpassed Wall Street’s projections. For the fiscal fourth quarter ending September 2024, the company reported earnings per share (EPS) of $2.95, significantly higher than the $2.13 reported in the same […]
The Bank of New York Mellon Corporation (“BNY”) (NYSE: BK), a global financial services firm, announced a definitive agreement to acquire Archer Holdco, LLC (“Archer”), a technology-driven provider of managed account solutions for the asset and wealth management sector. Archer offers a cloud-based platform that equips asset and wealth managers with middle- and back-office solutions. […]
Envestnet, Inc., a premier provider of integrated technology and wealth management solutions, has entered into a definitive agreement to be acquired by Bain Capital. The transaction values Envestnet at approximately $4.5 billion, or $63.15 per share, and includes significant investment participation from strategic partners such as BlackRock, Fidelity Investments, Franklin Templeton, and State Street Global […]
Mercer, a business of Marsh McLennan (NYSE: MMC) and a global leader in transforming the world of work, has announced its agreement to acquire Cardano, a specialist in long-term savings based in the UK and the Netherlands. This acquisition, set to finalize by the end of 2024 pending regulatory approvals, will significantly enhance Mercer’s asset […]
Major Acquisition in Asset Management: Cresset Asset Management has announced its acquisition of The Connable Office, Inc., one of the oldest multi-family offices in the United States, based in Kalamazoo, Michigan. With this strategic move, the combined entity will now manage assets exceeding $52 billion, catering to high-net-worth and ultra-high-net-worth clients across the nation. Legacy […]
In a pivotal development for the wealth management industry, Soltis Investment Advisors, a distinguished Registered Investment Adviser managing over $9 billion in client assets, has entered into a strategic partnership with Estancia Capital Partners and LLR Partners. This collaboration is set to inject a significant amount of growth capital into Soltis, further empowering their comprehensive […]
The Retirement Planning Group (TRPG), an employee-based Registered Investment Advisor (RIA) under Cetera Holdings, has significantly expanded its wealth management services by acquiring Lee Financial Group Hawaii. With assets under management totaling approximately $225 million as of March 31, 2024, Lee Financial is known for its comprehensive investment management and financial planning services, primarily serving […]
Wealth Enhancement Group, a leading national independent wealth management firm boasting over $81.5 billion in client assets, has announced its latest strategic move—the acquisition of The Financial Advisory Group, LLC, a reputable independent RIA based in Houston, Texas. This addition strengthens Wealth Enhancement Group’s footprint in Texas, introducing its third location in the state. Strategic […]