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Mission Wealth Merges with $235M Advisory Firm

Direct Investment | November 1, 2024

Mission Wealth Management, LP has merged with JLFranklin Wealth Planning, a financial advisory firm with over $235 million in assets. The merger marks the third partnership for Mission Wealth in 2024 and increases its presence in the San Francisco Bay Area. San Rafael, CA-based JL Franklin was founded in 1999 by Joyce L. Franklin, who ...

Pinnacle Partners, Trilogy Investment Co. Launch BTR OZ Fund

Alternative Assets | November 1, 2024

Pinnacle Partners and Trilogy Investment Company launched a new Build-to-Rent (BTR) Opportunity Zone Fund to capitalize three shovel ready BTR communities in Decatur, GA, Augusta, GA and Huntsville, AL. The construction of nearly 500 homes is planned across Qualified Opportunity Zones, while also intending to offer substantial tax incentives to investors. “This tax-advantaged real estate ...

H.I.G. Capital Closes $2B Middle-Market Fund 

Alternative Assets | November 1, 2024

H.I.G. Capital has closed its oversubscribed H.I.G. Capital Partners VII private equity fund, securing $2 billion in capital commitments to execute control equity investments in U.S. lower middle market companies. The fund surpassed its predecessor, which closed at $1.3 billion in September 2020.    H.I.G.’s private equity platform has invested in middle-market companies with elements ...

B. Riley to Unload Part of Wealth Unit to Stifel

Direct Investment | November 1, 2024

B. Riley Financial, Inc has agreed to sell a portion of its traditional (W-2) Wealth Management business to Stifel Financial Corp for an estimated $27 million to $35 million in cash. The deal does not include B. Riley’s approximately 190 independent advisors and 90 tax professionals. Subject to the terms of the agreement, the final ...