Mubadala Capital, which manages $27 billion in assets, will take a 42% stake in Silver Rock Financial, which manages $10 billion in assets.
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The deal expands Mubadala Capital’s reach in the US while giving CI Financial additional backing after years of snapping up RIAs.
Rick Wurster has been with Schwab since 2016 and is set to take the helm of the almost $10 trillion discount brokerage in January.
Advisors know exchange-traded funds as a way to invest in broad market indexes, but they are great for bond management, too.
Macy’s shocked markets Monday when it discovered a single worker hid up to $154 million in delivery expenses over the last three years.