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AMG delves deeper into the RIA business with second deal -- of $4-billion player in NY

Its purchase of a stake in Clarfeld Financial Advisors, Barron's No. 3, shows the Veritable deal was, indeed, a warm up

Author Brooke Southall August 20, 2013 at 3:18 AM
Admin:
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Robert Clarfeld: It's a minority investment with revenues-sharing and they have no control over expenses.

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Mentioned in this article:

DeVoe & Company
Consulting Firm
Top Executive: David DeVoe




Joe Gordon

Joe Gordon

August 23, 2013 — 2:46 PM

This makes sense as asset management continues to get commoditized, including separate account managers, and technology continues to evolve, driving costs down. Many high net worth relationships are often controlled by RIAs so an entry by AMG over time makes sense.

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