By many metrics, 2023 was a year of strong growth for registered investment advisors, according to Schwab's latest RIA benchmarking survey. The industry saw significant increases in assets under management, indicating a positive trend for the sector. Registered investment advisors saw their businesses rebound in 2023, reporting assets under management up nearly 18% during the year, showcasing resilience and adaptability in a changing market.
In a recent development, CW Advisors, which is backed by Audax Private Equity, has acquired Mercadien Asset Management, LLC, a Hamilton, New Jersey-based registered investment advisor. This acquisition marks a significant move for CW Advisors, further solidifying their presence in the industry. The deal is expected to bring together the expertise and resources of both firms, creating new opportunities for growth and expansion.
PHOENIX, July 18, 2024--Priority Financial Group (NASDAQ:PFG), a leading Independent Registered Investment Advisor (RIA), proudly announces the successful completion of a strategic partnership with a prominent wealth management firm. This partnership is set to enhance PFG's service offerings and strengthen its position in the market. The collaboration aims to provide clients with a comprehensive range of investment solutions tailored to their needs.
Out of an abundance of caution, one pooled plan provider (PPP) recently announced that it had registered with the Securities and Exchange Commission (SEC). This move underscores the importance of compliance and transparency in the financial industry. By adhering to regulatory requirements, the provider demonstrates a commitment to maintaining trust and integrity in their operations.
SAN DIEGO, July 17, 2024 /PRNewswire/ -- Cetera Financial Group, owned by Cetera Holdings (collectively, Cetera), continues to expand its footprint in the registered investment advisor space. With a focus on delivering personalized financial solutions, Cetera aims to empower clients to achieve their financial goals. The company's commitment to excellence and innovation sets it apart in the competitive landscape of RIAs.
The AICPA is asking the SEC to address concerns of redundant duties when an RIA holds all their investments with a custodian. This request highlights the need for clarity and efficiency in regulatory processes. By streamlining responsibilities and promoting best practices, the industry can better serve clients and uphold high standards of professionalism.
Trust is a cornerstone of financial planning, yet a recent Morning Consult poll revealed that only 36% of consumers trust investment and wealth management services. This finding underscores the importance of building strong relationships and fostering transparency in the advisory process. By prioritizing trust and communication, advisors can enhance client satisfaction and loyalty.
Curious about the benefits of virtual advising? Here are five reasons to choose a virtual registered investment advisor over traditional options. Virtual advising offers convenience, flexibility, and personalized service, making it an appealing choice for busy clients. With advances in technology, virtual advisors can deliver comprehensive financial guidance from anywhere, enhancing accessibility and efficiency for investors.
