WM Morning Memo
 
Wealth Management Daily Memo

OCTOBER 19, 2024

HIGH NET WORTH

The Top 5 Issues Facing High-Net-Worth Individuals in 2025

And some strategies to potentially mitigate them.

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HIGH NET WORTH

Dianne Feinstein’s Personal Collection Breaks Records at Auction

The sale of U.S. Sen. Dianne Feinstein's jewerly, art and more was administered in accordance with her complex trust.

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WMIQ RESEARCH REPORT
Driving Firm Growth 2024
Understanding the differing needs of younger and veteran advisors.
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RIA NEWS

Pathstone to Merge With Hall Capital to Create $100B AUM Firm

Following its purchase of $45 billion Hall Capital Partners, private equity-backed Pathstone will now have a national footprint with 23 offices and over 750 team members.

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INDUSTRY

Raymond James Snags $1.1B Las Vegas Team

The former RBC Capital Markets team will join Raymond James’ employee advisor channel.

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WHITE PAPER
Portfolio Construction: How to Put Private Markets to Work
Learn how alternative investments may potentially transform client portfolios and provide customization to help achieve their unique investment goals.
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INDUSTRY

Wirehouses Face a Fresh Round of Cash Sweep Class Actions

The suits filed in New York’s Southern District were filed the same day Wells Fargo revealed a $128 million loss in net interest income after the firm raised its sweep deposit rates.

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TECHNOLOGY

Vanilla Closes on $35M in Funding

The estate planning technology provider also announced a two-way integration with eMoney Advisor.

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RIA NEWS

Stone Point Takes Majority Stake in Kestra

Private equity firm Warburg Pincus exits its investment in Kestra after five years, while Stone Point returns as majority owner.

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RIA NEWS

Thurston Springer to Acquire $1.B AUA PEAK Reps

PEAK, which has 120 advisors and about $1.2 billion in assets under advisement, will operate as a separate subsidiary of Thurston Springer.

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INDUSTRY

Merrill Earnings Highlight Size of New Clients, Not Quantity

In the third quarter, the wirehouse doubled the number of net new clients with $10 million or more in assets from a year ago.

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