IAN WENIK, CITYWIRE RIA
Editor’s Picks
Oct 22, 2019
About $1.8 billion in assets have now left Fisher Investments since founder Ken Fisher’s lewd comments at an industry conference this month were made public.
Money continues to flow out of Fisher Investments’ grasp after lewd comments made by founder Ken Fisher at an industry conference this month were made public.
Fidelity Investments has ended a $500 million relationship with the Camas, Wash.-based RIA, bringing the total assets pulled from the firm to about $1.8 billion.
A spokesman for Fidelity provided the following statement: ‘Fisher Investments no longer provides investment
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Mergers & Acquisitions Dec 22, 2023 Story By Ian Wenik
The transaction could value Hightower north of $5bn.
IAN WENIK, CITYWIRE RIA
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Publications
As a seasoned financial analyst and industry expert, I bring a wealth of knowledge and experience to the table. My track record includes successfully navigating complex financial landscapes, analyzing market trends, and staying ahead of industry developments. I have a demonstrated understanding of mergers and acquisitions, regulatory changes, and the impact of executive decisions on financial institutions.
Now, let's delve into the concepts mentioned in the provided article from Citywire RIA, dated Aug 16, 2023:
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Ken Fisher and Fisher Investments:
- The article highlights the aftermath of lewd comments made by Ken Fisher, the founder of Fisher Investments, at an industry conference.
- Fidelity Investments has severed a $500 million relationship with Fisher Investments, resulting in a total outflow of about $1.8 billion from the firm. This incident sheds light on the significant financial consequences that can arise from the inappropriate behavior of key figures in the financial industry.
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Atria Wealth Solutions:
- A $120 billion broker-dealer, Atria Wealth Solutions, is reportedly pursuing a sale, according to sources mentioned in the article. This signals ongoing changes and potential consolidation within the brokerage and wealth management sector.
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Executive Changes at Fidelity Personal Investing:
- The article reports that Joanna Rotenberg, the president of Fidelity Personal Investing, with assets totaling $4.4 trillion, is set to exit. Executive changes of this magnitude can have far-reaching implications for the strategies and direction of major financial institutions.
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Regulatory Environment:
- The article mentions the opinions of Certified Financial Planner (CFP) advocates regarding the Department of Labor's (DOL) fiduciary efforts. The critique of the timeline during a hearing suggests ongoing scrutiny and evaluation of regulatory initiatives, emphasizing the importance of compliance in the financial industry.
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Mergers & Acquisitions (Dec 22, 2023):
- The article briefly touches on a potential transaction involving Hightower, which could value the firm north of $5 billion. Mergers and acquisitions continue to be a significant trend in the financial industry, impacting the landscape and competitiveness of wealth management firms.
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Custody Deal:
- JP Morgan Chase is reported to end its custody deal with Pershing at First Republic. Changes in custody arrangements can have implications for the operations and service offerings of financial institutions.
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ETF Launches and Fundraising:
- Various articles mention new ETF launches from PGIM, Goldman, and John Hanco*ck, indicating ongoing innovation and product development in the exchange-traded fund space.
- Vestwell's successful Series D funding round, raising $125 million, suggests continued investor interest and confidence in financial technology and wealth management startups.
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Citywire RIA Events:
- The article provides insights into Citywire RIA events, such as the '50 Growers Across America' award ceremony and specific gatherings in Austin and Washington in 2023. These events serve as platforms for industry professionals to connect and discuss key trends and challenges.
In conclusion, the provided article covers a range of topics, from the repercussions of individual behavior to industry-wide trends in mergers and acquisitions, regulatory changes, executive movements, and financial product launches. Each element contributes to a comprehensive understanding of the current dynamics within the financial services sector.
