Wealth Engineering News

• Elevation Point Stakes $750M Michigan RIA January 14, 2025
  The deal with Stonebrook Private represents Elevation Point’s first strategic investment since its inception in June.
• Private Equity Does Not Belong in Your 401(k) January 14, 2025
  For the vast majority of investors, there are safer, more transparent ways to save for retirement.
• $8B Balentine Sells 20% Stake to FJ Management January 14, 2025
  The investment from FJM, which has its roots in convenience stores, will help Balentine with succession planning and growth.
• BlackRock: Interest in Private Markets Will Accelerate Model Portfolio Adoption January 14, 2025
  Joe DeVico, BlackRock's co-head of wealth advisory, discusses the explosion in interest in model portfolios.
• FP Alpha Launches Tax Services As Standalone Product January 14, 2025
  The tech provider is unbundling its tax services, as clients increasingly clamor for assistance from their advisors, according to CEO Andrew Altfest.
• AI in Focus: Unlocking Innovation, Growth, and Investment Insights January 14, 2025
  Listen in as Shannon Rosic, Director of WealthStack, Content & Solutions at Informa Connect, sits down with Andrew Choi, Portfolio Manager and Senior Analyst at Parnassus Investments, to explore the transformative role of artificial intelligence in investment strategies.
• Schwab, Blackstone Among Firms Paying $63M To Settle SEC Texting Charges January 13, 2025
  The regulator found firm employees were using unapproved texting apps for business and failing to archive the communications. It follows earlier settlements made with large firms like Bank of America, Morgan Stanley, LPL and Raymond James.
• Robinhood to Pay $45M to Settle SEC Claims January 13, 2025
  Two Robinhood entities “failed to observe a broad array of significant regulatory requirements,” according to the SEC.
• MAI Acquires $662M California Firm January 13, 2025
  Concentric Wealth Management represents MAI’s second West Coast acquisition in 2024.
• Kestra Names John Amore as Next President January 13, 2025
  The current Wealth Management Head will take over as president of Kestra Financial in April, succeeding Stephen Langlois, who will stay on as a senior advisor to aid in the transition before retiring at the end of the year.