Aspen Standard Wealth has taken a majority stake in Summitry, a $2.8 billion RIA, as it aims to hold wealth management firms permanently and solve some of their pain points.
The commission settled charges that Wahed Invest violated the ad rule when including a pro soccer player and MMA athletes in marketing without clarifying that they weren’t clients and were compensated.
Mariner CEO and President Marty Bicknell will maintain majority control, and Leonard Green & Partners will retain its minority stake in the wealth management firm.
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