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- Yahoo
Merit Financial Advisors buys Texas-based Global Wealth Advisors
US-based financial advisory firm Merit Financial Advisors has acquired Global Wealth Advisors for an undisclosed sum. The deal will add new offices to Merit in Lewisville, San Antonio, Angleton, Snyder, Naples, Canonsburg, and Snyder, Texas; Naples, Florida; and Canonsburg, Pennsylvania." The merger brings an additional $860m in client assets under Merit's management. Global Wealth Advisors has been offering wealth preservation, asset protection, retirement income strategies, and estate planning. The leadership of Global Wealth Advisors, including president Kris Maksimovich and managing partner Chris Powers, will transition into roles as regional directors and partners at Merit. They, along with their 14 advisors and support staff, will join Merit's team, expanding the firm's influence in the Texas region where it now operates seven offices. Kris said: "We weren't actively looking to make a change but based on recent developments at our broker-dealer, we decided to seize an opportunity and make a change that's better for our clients and team. 'Joining Merit will help us maintain our personalised approach while expanding our presence in Texas." The integration into Merit will provide Global Wealth Advisors with enhanced operational support and access to Merit's wealth management platform. Merit president Kay Lynn Mayhue stated: "Kris and I started our careers together more than 25 years ago. I've witnessed him build a firm rooted in client service, integrity, and true leadership. It is a full-circle moment for us to now be working together under the Merit brand, and a powerful step forward toward our shared commitment to clients." This acquisition marks the 41st for Merit Financial Advisors in a period of four and a half years and follows other recent expansions, including the acquisition of Second Half Financial Partners earlier in the month, which increased Merit's assets by $225m. In June, Merit also extended its reach into Utah with the acquisition of RCM Investments, adding $281m in assets. "Merit Financial Advisors buys Texas-based Global Wealth Advisors " was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 minutes ago
- Yahoo
France investigates death of streamer over concerns of 'horrifying' violence
An investigation has been launched in France into the death of a 46-year-old man who livestreamed videos of himself being subjected to abuse and violence. Raphael Graven — who went by Jean Pormanove or JP online — was known for streaming extreme challenges and had built a following of more than 1 million people across various social media platforms, including the live-streaming service Kick. French prosecutors said he died on Monday at a property in the village of Contes, near Nice, according to local media. Graven had reportedly been subjected to violence and sleep deprivation for 10 days during his streaming. Footage shared on social media showed several men choking and beating Graven. In one video, the men noticed that Graven appeared lifeless while lying on a mattress and quickly cut the broadcast. The videos could not be independently verified by Euronews. Clara Chappaz, France's digital affairs and artificial intelligence (AI) minister, said that "the death of Jean Pormanove and the violence he suffered are an absolute horror". "Jean Pormanove was humiliated and mistreated for months live on the Kick platform. A judicial investigation is underway," she wrote on X. Sarah El Haïry, France's high commissioner for children, said his death was "horrifying". "Platforms have an immense responsibility in regulating online content so that our children are not exposed to violent content. I call on parents to be extremely vigilant", she wrote on X. Kick said it was "urgently reviewing" circumstances around the streamer's death. "We are deeply saddened by the loss of Jeanpormanove and extend our condolences to his family, friends and community," a spokeperson said. "Kick's community guidelines are designed to protect creators, and we remain committed to upholding these standards across our platform." Many social media users drew parallels between Pormanove's death and the British dystopian anthology show Black Mirror. In a recent episode, a man harms himself on a livestreaming platform in return for payment from viewers in order to fund life-saving treatment for his ill wife.
Yahoo
2 minutes ago
- Yahoo
iCapital, Apollo expand tie-up to offer evergreen private markets solutions
iCapital has expanded its partnership with alternative asset manager Apollo to extend the reach of evergreen private market investment options to investors. As part of this initiative, Apollo has made available a selection of evergreen private market products domiciled in Luxembourg on the iCapital Marketplace platform. The move aims to provide wealth managers with alternative investment choices, structured in a Luxembourg format, which can be offered to their clients. These evergreen products are designed to be continuously funded, with entry points for investors starting at an investment minimum of $25,000. They also present the possibility for periodic liquidity options. iCapital head of International Marco Bizzozero said: 'We are delighted to continue to support Apollo, unlocking new private market investment opportunities to the wealth management channel. 'The expansion of our partnership demonstrates that iCapital is the partner of choice for asset managers wishing to accelerate their distribution efforts into the growing pool of private wealth, leveraging iCapital's cutting-edge technology platform and operating system to manage the investment and education experience at scale.' Additionally, Apollo will be utilising the iCapital Marketplace for the purposes of streamlining reporting processes and managing the investor lifecycle associated with these evergreen structures. Apollo head of EMEA Global Wealth and managing director Véronique Fournier stated: 'We are pleased to extend our partnership with iCapital, further enhancing access to our institutional-grade solutions and broadening the reach of our Global Wealth products to investors in Europe and around the world. 'Private markets can offer diversification to the portfolios of wealth investors; we are focused on education and democratising access to such products, in structures tailored to their needs.' The move follows the introduction of the Apollo Allocation Pro, a tool aimed at aiding financial advisors in the incorporation of alternative investments into client portfolios. This tool is a product of iCapital Architect technology. Recently, iCapital secured over $820m in a funding round. The round saw participation from T. Rowe Price Associates, T. Rowe Price Investment Management, and SurgoCap Partners, leading to a substantial valuation increase for iCapital. "iCapital, Apollo expand tie-up to offer evergreen private markets solutions " was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
