Morning Memo
 
Wealth Management Morning Memo

NOVEMBER 20, 2023

RIA NEWS

Goldman Sachs Lures $650M Former Morgan Stanley Team to Custody Platform

The newly created RIA, Stablepoint Partners, said Goldman’s research, investments and white glove service stood out.

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INDUSTRY

Osaic Consolidation Drives Record Recruiting

Executives say Osaic's new name and consolidation drove a 240% increase in its recruited assets in the third quarter over a year ago.

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Alternative Investments Are an Increasingly Popular Tool in Client Portfolios

Greater education around alternatives and the need for diversified assets have boosted use — and there is still room to grow.

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INDUSTRY

Edelman Financial Sues Mariner For Stealing Clients, Defamation

Mariner's "ongoing" campaign to lure Edelman Financial Engines advisors includes calling the larger RIA a "sinking ship."

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RIA NEWS

Maya Joelson Joins Savvy Advisors from Perigon Wealth Management

Joining as a founding managing partner and global investment strategist, Joelson brings an impressive resume to the nascent, tech-centric advisory platform.

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RIA ROUNDUP

Carson Wealth Adds Locations in Georgia, Montana

It was another busy week for M&A in the RIA space, with no less than 10 firms announcing deals, representing close to $8 billion in transacted assets.  

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