Core Insights - Merit Financial Advisors has acquired SSC Wealth, which manages approximately $259.6 million in assets, focusing on high-net-worth individuals and business owners [1] - This acquisition marks Merit’s first in 2026 and its 53rd overall, following the previous acquisition of BluePrint Wealth Advisors, which added over $1.2 billion in assets [3] Company Details - SSC Wealth will transition four members, including Bert Falley and Michele Hammann, to Merit Financial Advisors [1] - Hammann will serve as regional vice president and partner at Merit while continuing her role as chief strategy officer at SSC CPAs + Advisors [2] Strategic Importance - The acquisition establishes a long-term alliance between Merit and SSC CPAs + Advisors, enhancing the wealth management expertise and capabilities available to clients [4] - Clients of Merit will gain access to advanced tax planning and business advisory resources from SSC, while SSC clients will benefit from easier access to Merit's wealth management services [5] Leadership Perspective - Merit CEO Rick Kent emphasized that this acquisition is not traditional but focuses on organic growth and differentiation, aiming to provide comprehensive wealth management while partnering with a respected CPA firm [6]

Core Insights - Ascentis Holdings is creating a unified platform that integrates three established businesses: Ascentis Wealth Management, Ascentis Asset Management, and Golden State Equity Partners, which will now operate as Ascentis Independent Advisors under the new structure [1] Group 1: Company Structure and Leadership - Michael Mansur and Clint Sorenson serve as CEOs for the wealth and asset management divisions, respectively, while John Nahas leads Ascentis Independent Advisors, which caters to independent advisors [2] - Ascentis employs 43 advisors across 16 states, managing over $2 billion in client assets [2] Group 2: Advisor Support and Autonomy - The new structure aims to provide advisors with autonomy while offering institutional support, including operational resources and enhanced investment opportunities, particularly in alternative assets [3] - Ascentis Independent Advisors is designed for fee-based advisors who wish to maintain their own branding while benefiting from the firm's support [4] Group 3: Operational Models and Growth Strategy - Advisors can choose between two operating models: AWM wealth employees as W-2 employees and AIA independent advisors as 1099 contractors, with plans for organic growth and acquisitions in the upcoming year [6] - The merger of WealthShield with Golden State's asset management program has strengthened Ascentis Asset Management [5] Group 4: Historical Context and Industry Dynamics - Mansur and Sorenson's collaboration began in 2018, leading to a partnership that leverages their respective strengths [7] - The leadership team has received interest from private equity firms but has opted against such funding due to concerns about potential negative impacts on advisors and clients [8]

You can find original article here WealthManagement. Subscribe to our free daily WealthManagement newsletters. Choreo, the registered investment advisor created in 2022 when private equity group Parthenon Capital lifted out the wealth management business of accounting firm RSM, has acquired the assets of Northeast Financial Group and Herbein Financial Group, Pennsylvania-based RIAs with $1.3 billion in combined assets. Choreo first made the connection with Northeast and Herbein through Cherry ...

Wells Fargo Advisors and UBS have each notched significant recruiting wins, luring seasoned advisory teams away from rivals. The moves are the latest reminder that competition for top talent remains fierce within the wealth management industry as advisors routinely hop from one firm to another. ...

Core Insights - The H1 2026 CIO Report by Noah Holdings highlights a significant shift in wealth management strategy, emphasizing the transition of AI from a speculative technology to a critical long-term infrastructure asset class [1][2] Wealth Management Strategy - The report indicates that the focus of wealth management is moving from maximizing short-term returns to preserving long-term certainty amid macroeconomic uncertainties [2] - Noah's CIO Office asserts that AI has transitioned from a "software-only" phase to a long-term infrastructure-building cycle, with investment value lying in the foundational assets required for large-scale AI deployment [2][3] AI Infrastructure and Portfolio Management - AI infrastructure is viewed as a strategic anchor for portfolios, enhancing stability and providing long-duration cash flow characteristics, while not replacing equities or venture capital [3][4] - The report introduces a three-layer allocation framework for family portfolios, which includes core long-term assets, liquidity and risk management layers, and legacy structures for intergenerational continuity [4] Historical Context and Consistency - Since 2022, Noah's CIO Office has published ten reports, establishing a consistent framework for navigating global macro shifts, with the latest report focusing on AI infrastructure as a cornerstone for future asset allocation [5]

Core Viewpoint - Azimut Group is acquiring a majority interest in Brazil-based wealth management firm Unifinance, enhancing its market presence and targeting the ultra-high-net-worth segment [1][5]. Group 1: Acquisition Details - The acquisition will be executed through a share swap in Azimut Holding, with no upfront cash involved, and includes an earn-out structure based on growth targets [2]. - Financial terms of the deal have not been disclosed, but it aligns with Azimut's strategy to grow in strategic markets [2]. - Unifinance has assets under advisory and management exceeding 4.1 billion reais (approximately $764.2 million) as of the end of 2025 [2]. Group 2: Strategic Implications - The combination is expected to enhance client service by increasing scale, expanding product offerings, and reinforcing internal processes [3]. - Unifinance's independence, corporate culture, and investment methodology will be preserved post-transaction [3]. - The deal is subject to standard closing conditions and regulatory approvals [3]. Group 3: Integration and Future Plans - While awaiting approvals, Azimut and Unifinance will begin integration efforts, focusing on client continuity, retaining key professionals, and accelerating commercial initiatives [4]. - This acquisition follows Azimut's previous purchase of a majority stake in Knox Capital, which also targets private and ultra-high-net-worth clients [4]. - Azimut will manage approximately 60 billion reais (over €9 billion) in Brazil, solidifying its position as the third-largest market globally [6].

Core Insights - Noah Holdings Limited has released its H1 2026 CIO Report, highlighting a significant shift in wealth management strategies due to the evolution of AI from a speculative technology to a critical long-term infrastructure asset class [1][2] Wealth Management Strategy - The report indicates that the focus of wealth management is transitioning from maximizing short-term returns to preserving long-term certainty amid ongoing macroeconomic uncertainties [2] - Noah's CIO Office emphasizes that AI has progressed beyond a "software-only" phase and is now entering a long-term infrastructure-building cycle, with investment value centered on the physical and operational foundations necessary for large-scale AI deployment [2][3] AI Infrastructure and Portfolio Management - AI infrastructure is viewed as a strategic anchor for portfolios, enhancing stability and providing long-duration cash flow characteristics, while not replacing equities or venture capital [3][4] - The report anticipates that rising AI-driven power demand will lead to sustained spending in energy systems and digital infrastructure over the next 10 to 20 years [4] Allocation Framework - A three-layer allocation framework for family portfolios is introduced, focusing on core long-term assets with durable cash flows, liquidity and risk management layers, and legacy structures for intergenerational continuity [9] - The report concludes that effective wealth management is about preserving direction, dignity, and autonomy for families across all market conditions [4] Historical Context - Since 2022, Noah's CIO Office has published ten CIO reports, establishing a consistent framework for navigating global macro shifts, with the latest report continuing the analysis of AI infrastructure as a cornerstone for future asset allocation [5]

Economic Policy and Market Impact - President Trump's upcoming speech is expected to outline economic priorities and policy initiatives, with a focus on tax policy changes, infrastructure spending, regulatory approaches, and trade policy, particularly regarding China [1][2] - The speech's timing amid earnings season and critical economic data releases creates a complex backdrop for market reactions, as political rhetoric and corporate results will compete for investor attention [1][2] Economic Data Releases - Thursday will see a significant convergence of economic data, including the Q3 GDP revision and the November Core PCE Price Index, both released at 8:30am, which could lead to market volatility as investors assess growth and inflation data simultaneously [4] - The GDP revision will provide insights into consumer spending, business investment, and net exports, while the Core PCE Price Index will be crucial for understanding inflation trends [4] Company Earnings Insights - Netflix's earnings report will be critical for understanding the streaming industry's economics, including subscriber growth sustainability and content investment returns, especially in light of competition from platforms like Disney+ and Amazon Prime Video [5] - Intel's earnings will be a key indicator of its manufacturing transformation and competitive positioning in the semiconductor market, while GE Aerospace's results will provide insights into commercial aviation demand and defense spending trends [7] - Johnson & Johnson's earnings will offer perspectives on pharmaceutical demand and healthcare spending trends, while Procter & Gamble's results will assess consumer resilience in personal care and household products [8]

Core Insights - Financial media often exaggerates market volatility, leading to increased anxiety among older Americans and retirees [1][2] - A portfolio manager's analysis reveals that significant market crashes are rare, suggesting retirees may not experience severe downturns during their retirement [3][6] Group 1: Market Crash Frequency - Market crashes of 30% or more occurred in only 10% of the years from 1928 to 2021, while 40% drawdowns happened in just 5% of those years [6] - The likelihood of a 65-year-old witnessing a 40% market drawdown before reaching 85 is very low, indicating limited risk for retirees [6] Group 2: Historical Context - Individuals over 30 have experienced several major market downturns, including the dot-com bust, the 2008 financial crisis, and the pandemic correction [4] - Despite the dramatic nature of these events, historical data suggests that the frequency and severity of market corrections are less alarming than perceived [5]

Core Insights - The economic output of Futian District in Shenzhen is expected to exceed 600 billion yuan by 2025, leading the city's growth rate [1] - The district is advancing a "CBD + Innovation Zone" strategic transformation, supported by "hard technology + hard finance" to drive high-quality development [1] Financial Sector Developments - Futian District is implementing eight major actions to strengthen its financial sector, aiming for the highest total value and growth rate in the city by 2025 [3] - In the past year, 12 new licensed financial institutions were introduced, bringing the total to over 300, with 132 new financial institutions established, marking a six-year high [3] - The district has seen five national firsts and three national innovations in financial services, including projects in AI + finance and mergers and acquisitions [3] Technology Sector Advancements - The "hard technology" sector is rapidly emerging, with industrial output surpassing 300 billion yuan and a doubling of the artificial intelligence industry cluster's output [6] - Over 13,000 new technology service and software information service companies were registered, reaching a ten-year high, with a doubling of new robotics companies and three new unicorns [6] - The density of concept verification centers and small trial bases is the highest in the city, with two companies selected for the Ministry of Industry and Information Technology's first batch of key cultivation platforms [6] Strategic Planning and Future Outlook - The district is set to enhance its licensed financial institution aggregation plan and strengthen three "trillion-level" financial headquarters clusters by 2026 [5] - During the 14th Five-Year Plan, Futian has implemented the first district-level long-term development plan for a modern industrial system, focusing on strategic adjustments in industrial structure [8] - New industrial clusters in new energy, smart terminals, and software information services have emerged, with significant growth in biomedicine and semiconductors [8]