Clayton Ortloff, an advisor out of Midland, Texas, will join the independent broker/dealer’s model for advisors looking for more autonomy while buttressed by back office support.
The RIA said it was acquiring the two San Francisco-based teams. This follows last week’s announcements that multi-billion-dollar former First Republic teams had joined Merrill Lynch and Citizens Bank.
Private equity participation picked up after a 2023 dip, five deals involving over $20 billion in assets were announced and a couple of new names appeared on the list of top buyers.
The SEC’s new quarterly reporting rules could help make private funds far more accessible to retail investors. But they are a huge task to implement.