Roundup by Asset Allocator Journal Staff
Today’s wealth management news highlights strategic investments, acquisitions, regulatory scrutiny, and technological advancements shaping the industry, offering wealth managers key insights into market trends and opportunities.
According to Pulse2.com, 119th Street Capital, alongside Pelican Capital, made a strategic investment in Maridea Wealth Management, a New York-based independent firm founded in 2023 by Mier Wang. The funding aims to fuel Maridea’s growth, supporting its comprehensive services, including financial planning, investment management, and multi-generational planning, as it expands its client-centric advisory offerings across the U.S.
Business Wire reports that Americana Partners, a Houston-based independent wealth management firm with over $9 billion in assets under management, strengthened its presence by hiring four industry veterans from Morgan Stanley’s Houston office. The firm, part of Dynasty Financial Partners’ network, recently acquired Los Angeles-based Boulevard Family Wealth in March 2025, enhancing its capabilities for high-net-worth and ultra-high-net-worth clients, including a new division serving Latin American markets.
Private Banker International notes that the Abu Dhabi Investment Office (ADIO) partnered with Alpheya, an AI-driven wealth management platform backed by BNY, Lunate, and ADQ. This collaboration aims to innovate financial services in the Gulf Cooperation Council region, focusing on tailored solutions for high-net-worth clients, creating high-skilled jobs, and aligning with Abu Dhabi’s goal of attracting global investors through advanced fintech.
South China Morning Post highlights Hong Kong’s eight digital banks planning to expand their wealth management businesses following a 74% surge in deposits. This move reflects growing demand for digital financial services, offering wealth managers opportunities to tap into tech-savvy client bases in Asia.
MarketBeat reports that Apex Wealth Management LLC invested $1.36 million in Walmart Inc., purchasing 15,028 shares in Q4 2024, signaling confidence in retail giants as part of diversified portfolios. Similarly, Blue Rock Wealth Management LLC acquired 5,184 shares of Wells Fargo & Company, valued at approximately $260,000, indicating strategic bets on financial services stocks.
Chicago Business, citing a McKinsey report, projects advised financial relationships will grow to 67-71 million by 2034, up from 53 million in 2024, driven by Chicago banks like CIBC, which reported 15% growth in U.S. wealth management assets in 2025. This underscores the industry’s expansion and competition for affluent clients.
Cape Gazette announces that Glenn Sweeten of Element Wealth Planning earned the Certified Plan Fiduciary Advisor designation, enhancing his expertise in retirement plan management, a valuable credential for advisors serving business clients.
American Banker argues that outdated accredited investor rules restrict most Americans from investing in private companies like SpaceX, potentially limiting wealth-building opportunities. Loosening these rules could democratize access to high-growth investments.
StockTitan reports that AlTi Global completed its €14 billion acquisition of Kontora Wealth Management on April 30, 2025, bolstering its ultra-high-net-worth services in Europe and managing $76 billion in combined assets.
PR Newswire states that Mission Wealth, marking its 25th anniversary, secured a minority investment from Great Hill Partners to support national expansion and enhance client services, managing over $10.7 billion in assets.
Financial Planning notes that wealth management M&A activity hit a record in Q1 2025 with 75 RIA transactions, per DeVoe & Co, remaining resilient despite economic uncertainty and a 4.6% S&P 500 drop, suggesting sustained consolidation.
Star Tribune reports U.S. Bank is suing three former employees for allegedly taking $700 million in client assets to RBC Wealth Management, highlighting risks of client poaching in competitive markets.
JDSupra indicates the May 2025 Section 7520 rate for estate planning remains at 5%, aiding wealth managers in structuring trusts and annuities.
FF News discusses fintech’s disruption of traditional wealth management, with AI-driven platforms and mobile apps enhancing accessibility and transparency, meeting modern investors’ demands for real-time control.
Morningstar announces Gabelli’s partnership with Keeley-Teton Advisors for investment management services, expanding its offerings in value, growth, and sector-focused strategies.
