Industry

The acquisition of Maryland-based multi-office and RIA WMS Partners will boost Homrich Berg’s total assets under management above $24 billion, according to the firm.

TradePMR's Robb Baldwin outlines the value the deal brings to RIAs, including a more tech-driven referral program and back-office systems not built on legacy platforms.

The firm’s research found that investors with assets in model portfolios are happier with their advisors. It also found that 54% of advisors now use custom-built models.

The initiative will be led by Joanna Rotenberg, who is joining the company from Fidelity.

The funds, including Cosmos, an SPV holding Space X, are available through SoFi’s partnership with Templum.

The company offering certifications gauging industry conferences’ diversity commitments is ending, with its co-founders acknowledging there’s been “a significant drop in industry demand for diversity initiatives” in recent years.