Wealth Management
 
WealthManagment.com Daily Memo
Wealth Management Daily Memo

JUNE 11, 2024

RIA NEWS

Arax Acquires $1.7B RIA; Recruits $270M Wells Fargo Team

Denver-based SRS Capital Advisors is the latest RIA to join under Arax’s multi-boutique strategy.

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RIA NEWS

Summit Adds $1.9B Breakaway Team from Merrill Lynch

SRM Private Wealth represents the 11th team to join Summit this year. It will use Goldman Sachs for custody.

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WHITE PAPER
Unleashing AI Powered Growth
How financial advisors can use AI for marketing to scale their business.
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TECHNOLOGY

AI-Powered Financial Research Assistant Brightwave Raises $6M In Seed Funding

Instead of simply a question-and-answer format, Brightwave reports are “living documents” that can be expanded and manipulated based on an advisor’s interests.

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INDUSTRY

$500M Former First Republic Team Leaves JPMorgan for LPL

California-based duo Tim Woodall and Dustin Raring are the latest team from the collapsed bank to leave its acquirer. They are joining LPL through its affiliation model for employee advisors.

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SPONSORED EBOOK
What you need to know about SMAs
Are you customizing your client portfolios enough? The PSN Mid-Year Outlook outlines substantial reasons SMAs are attracting new investors.
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TECHNOLOGY

Yext to Acquire Hearsay Systems

The online presence and listings manager could pay up to $220 million for the client engagement and compliance platform.

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