Orion Advisor Services launched an automated marketing service for advisors called Market*r. Creative Planning Inc. acquired Coe Financial Services. Envestnet|Yodlee has come to terms with Charles Schwab on a financial data access agreement. FIDx announced a strategic partnership with Financial Independence Group. Peter DeSantis has moved his $100 million book of business from Cetera Advisor Networks to LPL Financial. Robinhood is in the process of raising more than $200 million of new capital at an $8 billion valuation. BNY Mellon reports first quarter 2020 earnings of $944 million.
Following last summer’s tech buying spree, Orion Advisor Services is putting the pieces together in ways that may make them more than the sum of their parts. The firm has used its acquired Advizr financial planning tool to build and launch an automated marketing service for advisors called Market*r. It was unveiled last week.
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Despite its recent outages, Robinhood’s investors are re-upping investments in the trading start-up. Robinhood is in the process of raising more than $200 million of new capital at an $8 billion valuation, according to two people familiar with the deal, who asked not to be named because the details were not final.
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El Paso, Texas-based financial advisor Peter DeSantis has moved his $100 million book of business from Cetera Advisor Networks to LPL Financial. The move was driven in part by the need to join a fellow LPL advisor, who will eventually take over DeSantis’ practice.
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Creative Planning Inc. announced that it has acquired Coe Financial Services, an RIA firm located in Wichita, Kan., with about $126 million in assets under management. Creative Planning is an independent wealth management firm based in Overland Park, Kan., that provides a financial planning–led investment management approach, retirement planning, estate planning, trust services, tax advice and family office services for individuals as well as 401(k) and institutional money management. Creative Planning manages approximately $45 billion in assets across all 50 states.
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Envestnet | Yodlee, a leading data aggregation and analytics platform powering dynamic, cloud-based innovation for digital financial services, announced that it has come to terms with Charles Schwab on a financial data access agreement. This will aid in providing the framework for the financial services company’s clients to more securely and effectively allow access to, and use their personal financial information, with selected services designed to manage their financial wellness.
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BNY Mellon reports first quarter 2020 earnings of $944 million or $1.05 per common share. Total revenue increased 5%. AUC/A of $35.2 trillion, increased 2%. AUM of $1.8 trillion, decreased 2%.
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FIDx, the first product-agnostic platform to integrate the benefits of insurance seamlessly alongside investment products, announced a strategic partnership with Financial Independence Group, one of the nation’s leading insurance research and distribution firms, and its RIA Insurance Solutions affiliate.
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