• Financial Management

    Briefcase: Wealth management firm hires Santa Fe vice president

    Robert H. Hoffman Robert H. Hoffman has joined Morgan Stanley Wealth Management’s Santa Fe Office as vice president and financial advisor. Hoffman spent 17 years working for UBS, a Swiss multinational investment bank and financial services company. He holds a bachelor’s degree from the College of Wooster in Ohio, a master of business administration from the Stern School, New York University, and a master of divinity from Ascension Theological College in Washington. Hoffman will be partnering with the Compass Rose Group in Albuquerque to bring his expertise in wealth management and fixed income management to the team. Morgan Stanley,  

    Comments Off on Briefcase: Wealth management firm hires Santa Fe vice president
  • Financial Management

    Crypto exchange Gemini pushes into wealth management with acquisition of BITRIA

    David Abner, Gemini’s Global Head of Business Development. Source: David Abner Gemini, the $7.1 billion crypto exchange, is getting into wealth management with the acquisition of a digital asset platform for financial advisors, CNBC has learned exclusively. The company has agreed to purchase BITRIA, a five-year-old San Francisco-based start-up whose tools help advisors manage holdings of bitcoin and other tokens, according to Gemini’s global head of business development Dave Abner. The move creates one of the industry’s first full-service digital asset custodians for advisors, according to Abner, who declined to disclose how much Gemini paid in the deal. Gemini  

    Comments Off on Crypto exchange Gemini pushes into wealth management with acquisition of BITRIA
  • Financial Management

    The Modern Family Comes To Wealth Management

    Every family has a history. With some families, that history—and often associated legacies—go back generations. When it comes to family financial management for multi-generational clients, how do we manage expectations for all involved, especially as we are in the thick of the greatest wealth transfer in the history of financial services? For financial advisors, the ability to tap into the family’s past business and investing successes, current financial situation, and future goals to leave a legacy is truly a specialized skill. Few advisors have been trained to tackle all the financial, emotional and psychological challenges that  

    Comments Off on The Modern Family Comes To Wealth Management
  • Financial Management

    Private Equity Shop Parthenon Acquires RSM’s Wealth Business

    Private equity firm Parthenon Capital, the former owner of Allworth Financial, announced plans this week to buy accounting firm RSM’s wealth management business and rename it Choreo. The firm has tapped Larry Miles, who joined Freestone Capital Management as CEO and president a year ago, as CEO of the newly rebranded firm. RSM Wealth U.S. had $12 billion in assets under management and assets under advisement, as of Nov. 30 across 4,000 clients. Choreo will launch with 140 employees, including 51 CFPs. A spokeswoman for RSM said the firm decided to shed its wealth business to focus on its  

    Comments Off on Private Equity Shop Parthenon Acquires RSM’s Wealth Business
  • Financial Management

    Hightower Acquires $1.65 Billion AUM TC Wealth Partners

    Hightower is acquiring the Illinois-based TC Wealth Partners, a firm specializing in wealth management and retirement plan advice with about $1.65 billion in assets under management.  As part of the deal, Hightower acquired the TC Wealth subsidiary Trust Company of Illinois. In a statement about the acquisition, Hightower Chairman and CEO Bob Oros said he saw a “strategic opportunity” to help grow TC Wealth’s business with high-net-worth individuals and families, as well as business owners and institutions. Related: Advisor Innovations: Mark Bruno on Billion-Dollar RIAs “TC Wealth is a highly successful business with long-standing clients and deep expertise in financial  

    Comments Off on Hightower Acquires $1.65 Billion AUM TC Wealth Partners