Early adopter who understands collectibles
InvestmentNews » Alternative Investments
by Emily Douglas
18h ago
In the world of wealth management, innovation is key to success, as is early adoption of new tools and techniques. One man who knows this better than most is industry veteran Thomas H. Ruggie, founder and CEO of Destiny Family Office. Having begun his career in 1991, Ruggie went on to found both Ruggie Wealth Management and Destiny Wealth Partners, with the latter exceeding $1 billion in assets in 2023. Ruggie believes his and his team’s success hinged on them being at the forefront of financial planning innovation. “We’re definitely not in the innovator category, but I do believe in most situ ..read more
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B. Riley bouncing back after tough winter
InvestmentNews » Alternative Investments
by Bruce Kelly
1d ago
After enduring a winter of pressure from speculative traders looking to drive down its share price, B. Riley Financial Inc. is in the middle of a rebound, with its shares trading at $28.94 on Thursday afternoon, or more than double its recent low in February of $14.46. The campaign by short sellers, or traders looking to profit from the decline in the company’s stock price, was particularly intense over the winter months. In November, it was first reported that the head of the Franchise Group, a company B. Riley had invested $216.5 million in over the summer as part of a management b ..read more
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Haves and have nots: The illusory promise of SEC investor protection
InvestmentNews » Alternative Investments
by Mark M. Goldberg
1d ago
The recent unveiling of the SEC’s review of the Accredited Investor definition in December 2023 has disappointed many in the financial world. Despite widespread anticipation for a more inclusive approach, the rule remains exclusionary and lacking in genuine investor protection. It’s time for a paradigm shift—one that champions informed access and empowers all investors to participate in the wealth-building opportunities offered by private investments. By proposing substantial increases in income and net worth requirements in defining who is an Accredited Investor, the SEC effectively prevents ..read more
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Gratus Capital brings hedge funds to clients with iCapital alliance
InvestmentNews » Alternative Investments
by Leo Almazora
1d ago
Investment advisory firm Gratus Capital is offering a more diverse range of investment opportunities to its high-net-worth clientele through a new partnership. The firm announced that it is collaborating with global fintech platform iCapital to provide its wealth management clients to access to hedge fund investment opportunities. Aside from giving clients a private market investment onramp through one of the world’s leading alternative platforms, the partnership marks the initial phase of Gratus’ broader long-term strategy. That master plan has several main pillars, including reimagining how ..read more
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GameStop surge leaves short sellers with a $1.4B burn
InvestmentNews » Alternative Investments
by Bloomberg News
4d ago
Skeptics betting against video-game retailer GameStop Corp. are facing a more than $1 billion loss after the company’s share price roughly tripled this month. Shares of the meme-stock soared as much as 119% in a raucous open Monday amid a flurry of trading activity that triggered at least eight halts for volatility in the opening hour. With the stock up some 185% in May, mark-to-market losses for short-sellers has ballooned to $1.4 billion, according to S3 Partners data. Shares of the Grapevine, Texas-based company trimmed Monday’s gains to 65% at 11:20 a.m. in New York. The meme-stock phenome ..read more
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AlTi announces deal for $3B family office Envoi
InvestmentNews » Alternative Investments
by Leo Almazora
1w ago
AlTi Tiedemann Global, a global wealth management firm with assets exceeding $70 billion, is stepping further into the US wealth space with a hefty acquisition. The firm announced Thursday that it is acquiring Envoi, a Minneapolis-based family office managing approximately $3 billion in assets. The deal, set to close in the third quarter, is in line with AlTi’s strategy to strengthen its presence in the US, particularly in the ultra-high-net-worth wealth management segment. “I am delighted to announce that Envoi is joining AlTi as we continue to execute our strategy to become the destination o ..read more
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Blackstone set to make debut on CAIS alts platform
InvestmentNews » Alternative Investments
by Leo Almazora
1w ago
CAIS, an alternative investment platform catering to independent financial advisors, has announced an expansion of its offerings through a partnership with Blackstone. The alts platform provider announced Thursday that it’s adding Blackstone’s alternative investment strategies to the CAIS Marketplace. Blackstone currently claims a leadership position as the world’s largest alternative asset manager with over $1 trillion in assets under management. “As advisor demand for alternative investments accelerates, we are excited to welcome Blackstone, a firm that shares our vision in delivering qualit ..read more
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MassMutual and iCapital unveil expanded alts platform
InvestmentNews » Alternative Investments
by Leo Almazora
1w ago
MassMutual is empowering more advisors to better diversify and monitor their clients’ portfolio holdings, including alternative investments and annuities, through a new collaboration. Through a partnership with iCapital, the firm is launching a new customized platform designed to streamline financial advisors’ access to alternative investments, structured notes, and annuities. The platform, fully integrated and tailored for financial advisors affiliated with MassMutual subsidiary MML Investors Services, will provide a centralized hub for managing these investments. It aims to simplify access a ..read more
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Blackstone REIT in media cross hairs over valuation
InvestmentNews » Alternative Investments
by Bruce Kelly
1w ago
This column for years has been writing about the bedeviling, bewitching math behind nontraded real estate investment trusts and other illiquid investment products that financial advisors sell to their clients. Such products are difficult to understand because they don’t trade every day on an exchange but instead often rely on internally hired appraisal teams to determine a value at the end of the month. They also often come with high or complex fees and commissions that benefit the product manager and the brokers who sell for them. Investors’ recent rush to pull billions in cash from the illiq ..read more
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First Citizens Wealth boosts private investments for HNW clients
InvestmentNews » Alternative Investments
by Leo Almazora
1w ago
First Citizens Wealth is widening the opportunity for affluent clients to diversify their access to alternative investments. The North Carolina-based wealth firm announced Wednesday that it has enhanced to its private investment offerings, providing qualified clients access to growth-focused investment opportunities beyond traditional public markets. These newly expanded private investment options are exclusively available to high-net-worth individuals and institutions. They offer access to private equity, private real assets, and private credit and debt, while lowering the barriers from high ..read more
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