In a letter responding to the Massachusetts senator’s concerns about Empower expanding alts access for employees’ defined contribution retirement plans, CEO Edmund Murphy argued the move is “not an open door—it’s a carefully monitored gateway.”
Beacon Pointe, based in Newport Beach, Calif., adds more than $2.7 billion in client assets by bringing on firms from Massachusetts to California and several female-led teams.
Financial advisors are working with more clients who don’t have children or direct beneficiaries, which requires rethinking lifestyle designs and estate planning.
BlackRock made another move to bolster its private market capabilities with the acquisition of net lease real estate firm ElmTree Funds. Private investment platform Linqto, which promised access to pre-IPO firms, filed for bankruptcy amid SEC scrutiny of its practices. These are among the investment must-reads we found this week for financial advisors.
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