Ian Wenik

New York

Editor at Citywire RIA

Editor of @Citywire's @CitywireRIA, covering RIAs. Penn Quakers coverage @IvyHoopsOnline. Simpsons quoter.

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Articles

$287bn Edelman Financial Engines mulls sale to strategic acquirer: sources

3 days ago | citywire.com | Ian Wenik

Private equity firms Hellman & Friedman and Warburg Pincus are considering selling $287bn RIA Edelman Financial Engines to a strategic acquirer, according to sources with knowledge of the situation. Sources told Citywire the private equity investors have hired Moelis to serve as the investment banker for the sale process.
Orion hires new chief technology officer

3 days ago | citywire.com | Andrew Foerch |Sam Bojarski |Ian Wenik |Jeff DeMaso

RIA tech giant Orion has hired an executive to oversee its technology strategy. The firm said on Wednesday that it hired Valli Nachiappan to serve in the chief technology officer role, where she will also help modernize the company’s technology architecture and deliver emerging technologies, including artificial intelligence, to advisors. She brings to the role over two decades of work experience, largely in software engineering.
Dynasty to move to new office tower in St. Petersburg

3 days ago | citywire.com | Ian Wenik

RIA service platform and investor Dynasty Financial Partners is moving headquarters, but this time, the distance won’t be far. The company plans to move to an under-construction tower in St. Petersburg, Fla., roughly two blocks from its existing offices. Dynasty chief executive Shirl Penney (pictured) told Citywire he expects the company to move into its new offices at 400 North Central Avenue in November of 2026.
LPL offers Commonwealth advisors new asset bonus, 90%-plus payout on corporate RIA: sources

3 days ago | citywire.com | Ian Wenik

LPL Financial is including a pair of incentives in its retention bonus offers to Commonwealth Financial Network advisors which will give them additional money for bringing in new client assets and allow them to affiliate with LPL’s corporate RIA for a higher payout, according to sources with knowledge of the situation.
Podcast: When will an RIA go public?

1 week ago | citywire.com | Alex Steger |Ian Wenik |Sam Bojarski

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Franklin Templeton and Invesco stake annuities exchange FIDx

1 week ago | citywire.com | Tania Mitra |Ian Wenik |Sam Bojarski |Andrew Foerch

Annuities marketplace Fiduciary Exchange (FIDx) has sold a stake in itself to asset managers Franklin Templeton and Invesco as part of a new funding round. Insurance and asset management firm Prudential Financial — an existing investor in FIDx — led the funding round. Axonic Insurance Services, a designer and marketer of annuities, also participated. Specific financial terms of the deal were not disclosed. Already have an account?
Fund Files: Morgan Stanley, BNY to convert funds to ETFs

1 week ago | citywire.com | Ian Wenik |Tania Mitra |Eva Thomas |Sam Bojarski

Morgan Stanley Investment Management (MSIM) is set to convert the $617m Morgan Stanley Mortgage Securities fund (MTGDX) on August 1, according to a filing with the Securities and Exchange Commission (SEC). The resulting ETF will be called the Eaton Vance Mortgage Opportunities ETF.
Rockefeller raises $150m in debt to fund recruitment and dealmaking

1 week ago | citywire.com | Ian Wenik

Wealth and asset manager Rockefeller Capital Management has raised roughly $150m by syndicating a new delayed draw first lien term loan to debt investors, according to deal documents viewed by Citywire.
Ahead of LPL sale, Commonwealth adds $1.5bn team from Osaic

2 weeks ago | citywire.com | Ian Wenik

Commonwealth Financial Network’s impending sale to rival brokerage giant LPL Financial hasn’t stopped the company’s recruiting operations. The independent broker-dealer revealed Wednesday that it has recruited over Angelo Planning Group, a 30-employee and 16-advisor practice previously affiliated with Osaic. Rochester, N.Y.-based Angelo Planning Group oversaw roughly $1.5bn in client assets, Commonwealth said.
$47bn Clearstead initiates search for M&A head: sources

2 weeks ago | citywire.com | Ian Wenik

Clearstead, a private equity-backed RIA with roughly $47bn in assets under management and advisement, is conducting a formal search for a head of M&A, according to sources with knowledge of the situation. A source told Citywire that Clearstead has retained executive search firm Heidrick & Struggles to identify candidates for the position. Once hired, the M&A head would report to Carl Tippit, according to a source with knowledge of the situation.