- NFP Ventures invests in Wealth Technologies Inc. and will deploy its suite of financial planning tools across NFP’s distribution network.
- Charles Schwab purchases Wasmer Schroeder, a fixed-income management firm with $10.5 billion in AUM.
- Morgan Stanley acquires E*Trade to bring together wealthy Wall Street clients with a digital Main Street brand that resonates with younger people.
- Two new partners joined GCW Global Customised Wealth, Adam Domat as an investment professional and Mark Evans as COO and CFO.
- RBC Wealth Management acquires $1.8 Billion Visionary Wealth Management.
- National Advisors Trust partnered with Dynasty Financial Partners to enable financial advisors to expand and unify their services to clients.
- Key Private Bank selected the Charles River Wealth Management Solution to expand its investment product offering.
NFP
NFP Ventures, the early-stage investment arm of NFP, announced a strategic investment in Wealth Technologies Inc. (WealthTech), the creator of a financial planning strategies platform. The investment includes plans to deploy WealthTech’s suite of financial planning tools across NFP’s distribution network.
Charles Schwab
Charles Schwab is continuing its buying spree, agreeing to purchase Wasmer Schroeder, a Naples, Fla.-based fixed-income management firm with $10.5 billion in assets under management. The Wasmer Schroeder purchase will increase the approximately $90 billion in Schwab’s separately managed accounts.
E*Trade
Morgan Stanley agreed to acquire E*Trade for $13 billion, fusing together an old-school brokerage business of wealthy Wall Street clients with a digital Main Street brand that resonates with younger people.
GCW Global Customised Wealth
GCW Global Customised Wealth announced two partners have joined the firm, Adam Domat, serving in the capacity of investment professional, and Mark Evans, serving as chief operating officer and chief financial officer. Domat will focus on investment sourcing and diligence, as well as contributing to the ongoing enhancement of GCW’s portfolio construction modelling. Evans will be responsible for developing and maintaining GCW’s operational and financial processes and controls.
Visionary Wealth Advisors
Visionary Wealth Management, a Wisconsin-based firm with $1.8 billion in managed assets will be joining RBC Wealth Management, making the team the largest RBC team in the state.
National Advisors Trust
National Advisors Trust announced that they have partnered with Dynasty Financial Partners to offer a combination of trust services and wealth management to financial advisors. This partnership is designed to provide a solution to the firms on Dynasty’s platform–and creates a readily available trust solution to the firm’s business model.
Key Private Bank
Charles River Development, a State Street Company, announced that Key Private Bank, the wealth management division of KeyCorp, selected the Charles River Wealth Management Solution to expand its investment product offering. The deal provides Key Private Bank with portfolio management, trading, and compliance across its equities, options, and fixed income products. Key Private Bank also leverages Charles River’s mobile solution for advisors, Charles River Anywhere.
Vasyl Soloshchuk is CEO and co-owner at INSART, a FinTech engineering company. Soloshchuk is also the author of WealthTech Club, which conducts research into fortune and startup roboadvisor and wealth management companies in terms of the technology ecosystem.