Core Viewpoint - Lloyds Banking Group is acquiring full ownership of Schroders Personal Wealth, ending its joint venture due to unmet growth targets and high executive turnover [1][2] Group 1: Joint Venture Background - The joint venture was established in 2019 with an initial asset base of £13 billion and aimed at the mass affluent market [2] - By the end of 2024, SPW's assets grew to £15.7 billion with 300 financial advisers, but it still fell short of its ambitious targets [2] Group 2: Strategic Goals and Adjustments - Lloyds initially aimed for SPW to become a top three UK financial planning business with £25 billion in assets under management within five years, but this goal was postponed to 2025 [3] - Full control of SPW allows Lloyds to offer a wider range of products to over three million mass affluent customers, defined as those with more than £50,000 to invest [3] Group 3: Strategic Alignment and Market Context - This acquisition aligns with CEO Charlie Nunn's strategy to enhance growth in the insurance and wealth sectors, which are less impacted by interest rate fluctuations [4] - The wealth management landscape has evolved since 2012 due to regulatory changes that reduced commission-based financial advice [4] Group 4: Future Focus and Developments - Nunn has prioritized expanding Lloyds' wealth and insurance offerings due to limited growth opportunities in the bank's core business [5] - Schroders is focusing on its wealth management division for more affluent clients and has made senior appointments to strengthen its asset management operations [5] - In 2023, SPW selected Aveni to implement its AI-based platform for customer interaction supervision and compliance evidence creation [6]

Core Insights - The article discusses the launch of Evergreen Wealth, a new wealth management firm that combines traditional fiduciary advice with an AI-driven advice engine to enhance financial decision-making for clients with significant assets [4][5][6]. Company Overview - Evergreen Wealth is founded by Bill Harris, a seasoned entrepreneur with a background in finance and technology, including previous roles at PayPal and Intuit [5][4]. - The firm employs a team of 50 professionals and targets clients with a minimum of $250,000 in investable assets, focusing on those with a net worth between $1 million and $10 million [3][4]. AI Integration - The company utilizes a proprietary AI advice engine that integrates investment, tax, and financial databases to create personalized and tax-optimized portfolios [3][6]. - AI is used extensively for portfolio management, allowing for automated decision-making and trade execution, which enhances efficiency and complexity management [6][10]. Investment Strategy - Evergreen Wealth prioritizes direct indexing over traditional ETF or mutual fund investments, allowing for greater customization and tax efficiency [9]. - The firm employs daily tax loss harvesting strategies, making over 100,000 buy-sell decisions for each client daily, which significantly enhances tax optimization [10]. Client Personalization - The firm emphasizes a high level of personalization in investment strategies, taking into account individual client preferences, risk appetites, and specific investment concerns [11]. - The approach includes considerations for ESG (Environmental, Social, and Governance) factors, allowing clients to align their investments with their values [11].

Core Insights - The concept of being middle class in one's 40s is more about net worth than income, with a median net worth of $150,000 serving as a baseline for middle-class status [3][4] - Factors such as cost of living, income level, and personal circumstances can influence whether an individual is considered middle class despite having a net worth of $150,000 [4][5] - Financial experts suggest that a net worth range of $150,000 to $500,000 is more accurate for middle-class status, depending on various factors [4][6] Net Worth Requirements - The minimum net worth to be considered middle class in one's 40s is approximately $150,000, according to Federal Reserve data [3] - A significant portion of this net worth, around $75,000, should ideally come from retirement savings and liquid assets [6] - Individuals in their 40s should aim to have saved up to three times their annual salary and maintain an emergency fund covering three to six months of expenses [7] Financial Stability Indicators - Being middle class generally implies the ability to cover expenses, save for retirement, and engage in discretionary spending without financial stress [5] - Geographic location, family structure, and marital status are critical factors that can affect the net worth required to be considered middle class [5]

You can find original article here WealthManagement. Subscribe to our free daily WealthManagement newsletters. Commonwealth Financial Network has added a team of breakaway advisors in Kennett Square, Pa. Advisors Thomas Kinslow and Brian Sanford recently left Morgan Stanley to join Union Street Financial, a firm that’s been affiliated with Commonwealth since 2010. They manage close to $350 million in client assets. Union Street is led by Daniel Gannon, with Kinslow and Sanford joining as managing partner ...

Boston, Oct. 02, 2025 (GLOBE NEWSWIRE) -- Crestwood Advisors (“Crestwood”), a boutique investment advisory and wealth management firm based in Boston and with offices in Connecticut and Rhode Island, is proud to announce its inclusion on the Forbes/SHOOK America’s Top RIA Firms list for the fourth consecutive year. Crestwood ranked No. 56 in 2025, moving up from No. 59 in 2024, underscoring the firm’s steady growth and enduring commitment to client service. “Our place on this list is a direct reflection of ...

You can find original article here WealthManagement. Subscribe to our free daily WealthManagement newsletters. Ed Swenson, who left Osaic this summer after leading the firm’s RIA solutions division for about two years, has joined RFG Advisory, the Birmingham, Ala.-based hybrid RIA platform with more than $7 billion in assets, as president. He will also become a managing partner of the firm, alongside CEO Shannon Spotswood and Chief Investment Officer Rick Wedell. Spotswood served as president of the firm ...

You can find original article here WealthManagement. Subscribe to our free daily WealthManagement newsletters. A federal court judge in Georgia sided with new registered investment advisor OpenArc Corporate Advisory by dismissing a temporary restraining order requested in a lawsuit filed against it by its former wirehouse employer, Merrill Lynch. Dynasty Financial Partners, OpenArc’s platform provider and minority investor, and custodian Charles Schwab were also named in Merrill’s court filing requesting ...

You can find original article here WealthManagement. Subscribe to our free daily WealthManagement newsletters. A tech-focused registered investment advisor founder and former CEO of PayPal has launched a new RIA touting an artificial intelligence-driven advice platform and tax-aware investing. Bill Harris, who founded tech-focused wealth manager Personal Capital in 2009, said at a launch event in New York that his new Evergreen Wealth will combine human expertise and technology for high-net-worth and aff ...

Core Viewpoint - Wealth management platform Wealthfront has filed for an initial public offering (IPO) and aims to list its common stock on the Nasdaq under the ticker symbol "WLTH" [2][3]. Company Overview - Wealthfront is a tech-driven financial platform designed to assist digital natives in wealth accumulation through services such as cash management, investing, borrowing, and financial planning [3]. - The company has pioneered the use of automation to help clients build investment portfolios [3]. Financial Performance - In the second quarter, Wealthfront reported a year-over-year growth of 24% in platform assets, reaching $88 billion, and a 26% increase in revenue, totaling $339 million [4]. Market Context - Wealthfront's IPO filing follows that of its competitor Chime, which went public earlier in June [5]. - The company had previously been in talks for an acquisition by Swiss bank UBS for $1.4 billion, but the deal was called off in September 2022 due to opposition from major investors and regulatory concerns [5][6].

Those lead advisors, minority investor and partner Dynasty, and custodian Schwab, are fighting the allegations in court. If they can clear those legal hurdles, OpenArc will become a new competitor in the mega-RIA space and likely join the acquisition spree .The road to creating OpenArc has not been easy, according to those who worked on the move. Nor was its launch, with a formal announcement preceded by a lawsuit filed by Bank of America’s Merrill in a federal court in Georgia, alleging that OpenArc leader ...