Victory Capital's $7 billion First Eagle buy is a distribution play
A $571 billion combination built on a private-credit distribution bet, with 35% EPS accretion and a $280 million synergy target as the proof of price.
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The $280 million tell in Victory's First Eagle deal
Amundi's 27 percent stake turns the $7 billion deal into a private-credit distribution bet, with the $280 million synergy target as the proof of price.
The breakaway is now a rounding error
Advisors moved 566 times in 30 days; only 10 left to start a new firm.
Victory Capital's $7B First Eagle deal is a private-credit bet
The combined $571 billion manager is paying for a CLO distribution engine; the $280 million synergy target will prove the price.
An Intermediary Outran Every Acquirer Last Month
OpenArc Corporate Advisory's 88 transactions in 30 days show the RIA consolidation wave now runs on sell-side advisory.
Vanguard's Altruist buy is a bet on tax season
The fund giant gains an RIA platform, an AI tax tool, and a seat in a custody fight it never won on cost alone.
Curi's Vistria deal: a bet on process, not pipeline
The $14B Chicago RIA is selling a majority stake without a single LOI in hand—the capital is meant to build the deal machine, not feed it.
Cresset's Boca Raton liftout is a CPA template with $4 billion attached
A 16-person UBS team with two CPA-trained principals shows what pulls wirehouse teams into the independent channel: family-office structure, ahead of payout.
The 89% question hanging over RIA M&A
Fidelity's first-half tally shows fewer, larger deals — and a private-equity share of buying that has become the market's defining dependency.
Prosperity taps Forvis Mazars wealth leader as president
The hire extends the wealth industry's 2026 C-suite makeover into the tax-adjacent RIA channel.
Wealth transfer's costliest mistake is waiting
UBS's Sarah Salomon says Buffett's eight-year pledge is a lesson in readiness rather than timing — and the RIA that stages the rehearsal keeps the assets.
LPL and Raymond James land $470M, but the platform is the pitch
Two advisors left Harbour and Ameriprise for capabilities, not grids, as the platform war becomes the recruiting pitch.
Amundi backs Victory Capital's $7B First Eagle deal as shareholder and distributor
Amundi's blessing comes as 27 percent owner and lead distributor, which makes the $280 million synergy target the number to watch.
Citizens adds a $1 billion Tampa team and keeps its name
The UHNW team keeps its name inside the bank, a recruiting signal as Citizens builds a private-wealth map one market at a time.
CFA Institute: private credit's retail rules lag the market
A new report argues that private lending's risks are transformed, not removed, as semi-liquid funds and BDCs reach upper-tier wealth investors.
The first institutional redemption will test evergreen liquidity
When a pension or endowment redeems from a wealth evergreen fund, the clearing price will reveal whether the channel's liquidity was built for the money it holds.
Institutional money arrives in the wealth channel with a redemption question attached
Blackstone and KKR built these funds for wealthy individuals. Now institutions are allocating, and the first institutional redemption will be the real test.
USS hires CalSTRS veteran to run private equity
One senior hire imports CalSTRS's private-equity judgment into a UK scheme.
Woo family office weighs $1bn secondary exit
A $1bn private equity exit from a family office shows liquidity demand has reached the patient capital private markets were built on.
Cresset pulls $4B UBS team into Boca Raton
The 16-person group, led by a pair of CPA veterans, lands with the business-owner relationships that feed Cresset's private-markets machine.
Mercer buys a Columbus RIA to fill out its Ohio Valley grid
Mercer's purchase of NorthAvenue Financial Advocates shows how a consolidator buys geography and demographics, one small team at a time.
Cresset's Platform Pitch Pulls a $4B UBS Team
The 16-person group led by Michael Bober and Ed Ventrice gives Cresset its first Boca Raton office and deepens a South Florida push built on alternatives.
Private capital's barbell has no middle fund
Elad Gil's Cosmic funds filed $3.76 billion in offerings the same day shelf LLCs filed as little as $81,000, and the traditional mid-sized fund stayed away.
Prosperity imports a tax-firm president as the C-suite talent war moves to the platform
Three moves this week put tax, technology, and the bank balance sheet under single executives — the talent war has moved to the platform.
Vistria's Curi stake buys a deal machine
With WPCG still sourcing deals and Vistria supplying capital, Curi Capital looks built to keep buying.
City National adds ten private bankers in California
The RBC subsidiary rebuilt its private bank from the top down; ten new California bankers are an early test of whether that sequence pays off.
OneDigital out-consolidates LPL and Tastytrade combined
The employee-benefits brokerage logged 71 advisor and acquisition events in 30 days, more than LPL's 28 and Tastytrade's 37 combined, pointing the talent war through benefits platforms.
Retail venture funds sell access, and the volatility comes with it
Destiny Tech100's 44% three-month loss shows what happens when late-stage private assets meet a listed wrapper.
LPL's platform pitch lands $230 million father-son team
The father-son move shows LPL's technology strategy is reaching down market, where client retention is the proving ground.
BlackRock's $671 million loan sale tests private credit's exit price
The TCP Capital book will give advisors a real mark on what private credit pays when clients want out.
Bank M&A wave will redraw the advisor map
For wealth managers, the bank consolidation wave is a custody and talent story before it is a lending story.
Confluence minority stake is a growth bet
Constellation's minority investment in $7.6B Confluence leaves the founders in control and the investor's return dependent on the next valuation.
Gateway bets coaching can fix the 72% rookie failure rate
A Connecticut hybrid RIA is spending on continuous mentor access to keep next-gen advisors from washing out.
BlackRock explores sale of TCP Capital's $671m loan book
A sale of the troubled vehicle's remaining portfolio would show where private credit books actually clear.
Deep-tech resilience fund reports $500M in 16 days
A $500 million raise in sixteen days lands on a Form D that leaves the fund's cap blank and its terms in the private placement memorandum.
Elad Gil's Cosmic files three venture funds seeking $3.76 billion
Three Form Ds, one date, no capital sold: the architecture tells allocators the manager is selling choice, not a single fund.
AmeriFlex's Scout AI targets advisors near retirement
The hybrid RIA is using Claude to find succession prospects before competitors do — and betting the first call wins.
The 10,000-advisor ceiling meets one million plans
Cerulli sees one million DC plans by 2030 and 92% in the micro market; the economics say the old RPA channel cannot serve them.
LPL recruits Wells Fargo tech chief for Latitude push
Jonathan Lewis joins as CTO while LPL bets platform engineering is the next retention weapon.
Conte Wealth's $1.6B LPL move is a lineage play
The Camp Hill firm's official asset total comes in above early estimates, and a third-generation, 24-advisor practice is the real prize.
Schwab's $5 million referral bar is a custody strategy
Raising the SAN minimum to $5 million turns the RIA referral program into a high-net-worth introduction service and exposes how dependent firms are on custodian leads.
The Custody Handoff Is the Talent War's New Front
Feathery's $30 million raise and LPL's $1.6 billion liftout show the battle for advisors has moved to the workflow that moves their accounts.
Levitt opens a New York base for Americans whose U.S. plans don't survive the move
The France-based manager is chasing a transatlantic client pool that no single adviser on either side is built to serve.
The marginal dollar is chasing megawatts
JPMorgan and Goldman Sachs are reportedly structuring $3 billion for Nscale while the deal log fills with power-generation transactions.
The $21B RIA that says no to every buyer
Baker Street's 22-year acquisition-free run is a rebuke to the M&A machine — and the culture buyers say they prize is the one thing it won't sell.
Nine solo moves for every team liftout
PWD's 30-day tracking shows the advisor talent war is now a volume game, with UBS the largest source of churn and Farther and Tastytrade the winners of the solo move.
Barings names DWS veteran to lead U.S. wealth expansion
The new role tasks a distribution builder with closing the advisor-education gap Cerulli calls the industry's biggest obstacle.
U.S. Bank bets on credit to keep private banking teams
Days after a $2.4 billion team left for LPL, Chris Peary's promotion puts the balance sheet at the center of the retention pitch.
Independence is a product now. Choice is the real asset
Sanctuary CEO Adam Malamed frames independence as a spectrum, and the platforms that treat choice as the product will own the next decade.
Feathery raises $30M to automate the custodian handoff
The round bets RIAs will pay for the workflow layer that custodians still control.