- Goldman Sachs is rebranding United Capital.
- Fidelity now offers fractional shares trading for stocks and ETFs to its customers.
- GeoWealth surpasses $8 billion in assets on Advisor Platform, $2 billion in AUM.
- Brinker Capital’s Wealth Advisory division surpassed $5 billion in AUM.
- Bluespring acquires Florida RIA with $400 million in assets.
- Riskalyze announces “Regulation Best Interest” solution.
- Cabana surpassed $1 billion in advisory AUM.
- Mercer Advisors buys First Ohio Planning.
- Orion leverages financial planning acquisition to drive advisor growth.
United Capital
Goldman Sachs is rebranding United Capital, which it acquired in May for $750 million in cash, as Goldman Sachs Personal Financial Management. The bank announced the new name Wednesday during its first-ever investor day, as Eric Lane, co-head of Goldman’s consumer and investment management division, detailed plans to grow its financial advice business.
Fidelity
Fidelity announced that it is offering fractional shares trading for stocks and ETFs to its 23 million customers. Fractional trading, or what Fidelity calls “dollar based investing,” allows customers to buy and sell as little as 0.001 of a share using Fidelity’s mobile app for iOS and Android.
GeoWealth
GeoWealth, a technology and investment advisory firm, announced that it has surpassed $8 billion in assets on its advisor platform and $2 billion in assets under management. Serving financial advisors and the broader investment community with its turnkey asset management platform (TAMP), GeoWealth now has over 500 advisors using its platform and powers more than 55,000 individual accounts.