Fiduciary Investment Advisors Llc Will Be Integrated With Nfp’s Dimeo Schneider & Associates Llc Creating A Unified Ria Advising On Approximately $200 Billion
DiMeo Schneider has an exemplary culture and commitment to clients. This combination is consistent with FIAs history of seizing opportunities that elevate the value we deliver to our clients, said Mark Wetzel.
NEW YORK April 01, 2020
NFP, a leading insurance broker and consultant that provides property and casualty , corporate benefits, institutional investment consulting, retirement, and individual solutions, announced the acquisition of Fiduciary Investment Advisors LLC , in a transaction that closed on April 1, 2020. NFP is integrating FIA with DiMeo Schneider & Associates L.L.C., , a national investment consultant serving retirement plans, nonprofit organizations and private clients, and a subsidiary of NFP. The combined entity, led by the DiMeo Schneider and FIA management teams, operates independently under the DiMeo Schneider brand.
This acquisition brings together personnel and resources to create a unified firm that has offices in seven locations, serves clients in 47 states and advises on approximately $200 billion of client assets . DiMeo Schneider and FIA have served the same client types for years retirement plans, endowments/foundations, and private clients and will continue to do so.
This is an exciting milestone for our firm, said Mark Wetzel. DiMeo Schneider has an exemplary culture and commitment to clients. This combination is consistent with FIAs history of seizing opportunities that elevate the value we deliver to our clients.
Fiduciary Investment Advisors Acquired By Insurance Brokerage
NFP is merging FIA with its DiMeo Schneider & Associates to form a unified RIA.
NFP, an insurance broker and consultant, says it has acquired Fiduciary Investment Advisors.
NFP is integrating FIA with its subsidiary, DiMeo Schneider & Associates, an investment consultant to retirement plans, nonprofits and private clients, to form a unified RIA, according to a press release from NFP.
The combined entity, which has 180 professionals working out of seven locations advising on around $200 billion for clients in 47 states, as of the end of 2019, will operate independently under the DiMeo Schneider brand, led by DiMeo Schneider and FIA management teams, NFP says.
Robert DiMeo, managing partner of DiMeo Schneider, is now CEO of the combined entity, while , president of FIA, serves as its president, according to the press release.
“This is an exciting milestone for our firm,” Wetzel says in the press release. “DiMeo Schneider has an exemplary culture and commitment to clients. This combination is consistent with FIAs history of seizing opportunities that elevate the value we deliver to our clients.”
The companies didnt disclose the financial terms of the deal, which closed on April 1, according to the press release.
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Fiducient Advisors Llc Brokerage Details
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- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses or institutional clients
- Pension consulting services
- Publication of periodicals or newsletters
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The Two Teams Will Combine To Enhance Their Research And Expanding Geographic Reach
DiMeo Schneider & Associates is combining with Fiduciary Investment Advisors to become one integrated operation.
The transaction is expected to close in the second quarter of this year. According to a business update posted by DiMeo Schneider, all employees will remain in their current roles.
DiMeo Schneider managing partner Bob DiMeo will take over as chief executive, and FIA president Mark Wetzel has been named president.
We have great respect for what Mark and his team have built, their approach to the business, and how they serve clients. We look forward to learning from each other, working together to enhance opportunities for our employees and clients, and increasing our ability to help current and future clients prosper, said DiMeo.
The combination will allow for enhanced research, improved infrastructure, a wider geographic reach and greater growth opportunities for employees, according to the firms.
The merged firm will have offices in seven locations, and will advise on $180 billion in client assets.
DiMeo Schneider a West Coast office outside Los Angeles in July 2019.
DiMeo Schneider and FIA leaders are excited about the opportunity to work together to continue to support our many valued clients, said Wetzel. This combination is consistent with FIAs history of seizing opportunities that elevate the value we deliver to our clients.
FIA is an investment consulting firm that advises on $87 billion in total assets.
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Iap Urges Ontario To Introduce Advisor Fiduciary Duty
Panel calls on OSC to address OBSIs inability to enforce recommendations for investor compensation
If the Ontario Securities Commission cant convince other provincial regulators to introduce a fiduciary duty on advisors, and to reform conflicted industry compensation structures, the OSC should go it alone, says the OSCs Investor Advisory Panel .
In a letter to Eleanor Farrell, director of the Office of the Investor at the OSC, the independent IAP says that its top priorities for improving investor protection include adopting a fiduciary duty on retail advisors reforming industry compensation structures ensuring adequate access to dispute resolution and investor restitution and, reforming advisor proficiency and titles.
Of those issues, the IAP notes that the OSC is already examining the merits of a best interest duty and reviewing mutual fund fee structures, as part of consultations initiated by the Canadian Securities Administrators back in 2012. And, it calls on the OSC to act quickly on these issues.
We have debated, discussed and studied the issues and their solutions for many years, it says. It is time for decisions that will lead to a more robust investor protection regime in Canada.
As for its other priorities for reform, the IAP says that they also be priorities for the commission, arguing, Efforts in these areas would contribute to the professionalism of the industry and investor protection.
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