Wealth management has got junior advisors' first 90 days covered. What happens on day 91? American Banker
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Bahrain-based alternative asset manager Investcorp has entered the wealth management sector by acquiring a majority stake in Berger Financial Group, a Minnesota-based RIA with over $3 billion in assets under management. The move signals a strategic shift toward the mass affluent segment, which Investcorp identifies as an underserved market ripe for growth amid upcoming generational wealth transfers. This acquisition marks the firm's first foray into the RIA space and highlights a growing interest from global private equity players in scalable advisory models.
August 8, 2026UBS has signaled a strategic shift toward a leaner financial structure with the theme of a smaller balance sheet driving a bigger impact. This move suggests a focus on capital efficiency and high-margin services, which are central to the firm's global wealth management strategy. For the broader industry, this approach highlights the trend of major institutions pivoting away from capital-intensive activities to maximize shareholder value and advisory reach.
August 7, 2026Rockefeller Global Family Office has expanded its presence into Columbus, Ohio, with the addition of Jones Wealth Partners. This strategic move marks the firm's first entry into the Columbus market, continuing its aggressive growth trajectory across the United States. For the wealth management industry, this recruitment illustrates the ongoing trend of established family offices targeting high-growth regional markets to capture local high-net-worth client segments.
August 7, 2026Industry veterans Phill Rosen and Jon Stevenson have launched Astraeus, a New York-based startup aimed at resolving the structural data fragmentation issues plaguing the wealth management sector. The platform, which debuted on August 6, 2026, utilizes a semantic layer to unify disparate data sources like custodial systems and CRM platforms into a single, machine-readable model. This infrastructure-focused approach seeks to eliminate operational drag and improve visibility for investment advisory firms and wealthtech platforms.
August 7, 2026