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Sequoia is adding $930 million in assets, while Mercer, NewEdge Wealth and CoastalOne collectively brought in more than $1.13 billion. SageView, Linscomb & Williams and Pathstone all filled key roles.
A year after announcing it would leave Raymond James and restructure from an OSJ to a hybrid, multi-custodial RIA, Concurrent says it recruited more than $1 billion in assets and added Schwab as a custodian.
“By selling United Capital and by selling PFM … it allows us to take the resources and the investment we might’ve geared toward growing that and add it to our investment in ultra-high-net-worth growth,” said Goldman CEO David Solomon.
Charles Schwab execs say RIA asset attrition ahead of the Labor Day conversion was less than expected, even with a “substantial” number of RIAs actively booted in the TD Ameritrade merger.