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2 days ago | 
citywire.com | Sam Bojarski |Alec Rich |Andrew Foerch
T. Rowe Price and a consortium of fellow investors made a minority common equity investment to the tune of $1.6bn in global insurance brokerage Hub International Limited (HUB) on Monday.
The deal values HUB at $29bn, which the company said is the largest enterprise value to date for a private insurance broker. Along with T. Rowe, investment company Alpha Wave Global and Singaporean state-owned investment firm Temasek participated in the capital raise, as did a slew of new and existing investors.
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6 days ago | 
citywire.com | Sam Bojarski |Tania Mitra |Alec Rich |Ian Wenik
As the markets dance around a potential recession and rapidly shifting developments from Washington, Brad Honer, director of investment services and product at American Bank, is playing defense.
Honer (pictured) is a one-man-army overseeing $600m in assets. While he does have an approved securities list, investments from advisors are largely made via the 10 high-level models he curates.
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6 days ago | 
citywire.com | Ian Wenik |Selin Bucak |Alec Rich |Jim Dickson
Carlyle is going to be launching its private equity strategy for wealth investors by early 2026, as CEO Harvey Schwartz positions the firm for further growth.
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1 week ago | 
citywire.com | Sam Bojarski |Tania Mitra |Alec Rich |Selin Bucak
ETF flows in April slowed to their lowest levels for 12 months amid wild market volatility sparked by President Donald Trump’s tariff announcements.
After averaging $106bn of inflows for the prior 11 months, April’s flows were more muted at $57.8bn, according to data from Morningstar Direct. April is a quieter month in general, but investors were responding to the activity around tariffs as well.
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1 week ago | 
citywire.com | Andrew Foerch |Sam Bojarski |Alec Rich |Selin Bucak
Independent broker-dealer Cetera Financial Group has restructured its internal support teams which serve thousands of affiliated advisors around the country, according to presentation materials viewed by Citywire.
Through the plan, advisors will receive consulting and business growth support from designated teams based on their geographic region and Cetera broker-dealer affiliation.
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1 week ago | 
citywire.com | Alec Rich |Olivia Bybel |William Johnson |Ian Wenik
Sandy Bolton, a former Merrill Lynch executive who most recently served as head of wealth management solutions for Ameriprise, has struck out on her own with a new venture.
Bolton has founded the New Jersey-based SanWealth Partners, a wholly independent member of the Indivisible Partners network of wealth management firms, an RIA founded by another former Merrill executive, John Thiel.
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3 weeks ago | 
citywire.com | Sam Bojarski |Alec Rich |Ian Wenik |Eva Thomas
‘AI is going to be better than all of us, at everything’ - Dario Amodei, CEO of Anthropic.
Six months ago, we highlighted that the killer application of AI would be efficient and functional AI agents. So, are we seeing real progress or just more promises?
OpenAI, whose CEO Sam Altman predicts a future where everyone will have a personalized PDA tailored to their needs, has made progress in this direction.
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3 weeks ago | 
citywire.com | Alec Rich |Ian Wenik |Eva Thomas |Joe Duran
Fiduciary Trust International, the wealth management subsidiary of Franklin Templeton, is making a change at the top.
John Dowd is no longer chief executive of the company, according to a source with knowledge of the situation.
When contacted by Citywire, a Franklin Templeton spokeswoman confirmed Dowd’s exit. Already have an account? Do you personally advise on or manage investments for clients?
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3 weeks ago | 
citywire.com | Alec Rich |William Johnson |Eva Thomas |Sam Bojarski
Despite ongoing jitters in the US equities market, Charles Schwab saw continued growth and set record net revenues in the first quarter of 2025.
In the brokerage giant’s Q1 earnings report, which was released on Thursday, Schwab reported income of $1.9bn, or $.99 earnings per share, as the company gained nearly $138bn in core net new assets.
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3 weeks ago | 
citywire.com | Alec Rich |Sam Bojarski |William Johnson |Eva Thomas
A Connecticut RIA has accepted minority investment from Karl Heckenberg’s Constellation Wealth Capital.
Procyon Partners, an $8bn RIA, said Thursday that the deal with serial RIA investor Constellation will allow the firm to scale its operations and facilitate hiring.
Sources told Citywire in December that Procyon was in the market for a minority investor. Citywire also reported last month that Constellation Wealth Capital and Rise Growth Partners were in talks to invest in the RIA.
