WealthManagement.com Daily Memo
 
Wealth Management Morning Memo

JANUARY 12, 2024

INDUSTRY

UHNW Merrill Customers Could Get Bitcoin ETF Access Today

A spokesperson said Bank of America was wrapping up its evaluation of the new offerings that were approved earlier this week by the SEC. The news comes the same day the bank unveiled its fourth quarter of 2023 earnings report.

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RIA NEWS

Arax Acquires $1B IBD; Recruits $2B Alex. Brown Team

The $2 billion AUM Stafford Schauer Private Wealth Team joins Arax's Ashton Thomas Private Wealth from Deutsche Bank.

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2024 MARKET OUTLOOK

Whose Credit Line is it Anyway?

As the FDIC proposes new capital reserve requirements, a $100 billion landscape of private lenders' committed warehouse financing faces potential constraints, questioning the control of credit lines in the commercial real estate market.

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RIA NEWS

The AmeriFlex Group Breaks Record with 60 Recruits, $2.75B in Assets in 2023

Ending last year on a high note, the self-styled ‘home for hybrids’ reached $9.5 billion in assets and launched an acquisition-focused OSJ model.

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RIA ROUNDUP

MAI Picks Up $1.4B RIA in Cincinnati

At least 10 deals, representing more than $8 billion in transacted assets, were announced this week along with a rebrand and two RIA launches.

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