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Day brief
Daily Advisor News tracks a net AUM flow of -$262.8M for the day, with total net AUM changing by -$719.2M after accounting for new filings and exits. Existing firm gains of $84.4M were outstripped by $803.6M in losses. Industry headcount and footprint showed positive momentum, adding a net 20 advisors and 11 locations.
SMITH GROUP ASSET MANAGEMENT, LLC posted the day's largest drop, falling $803.6M (-36.3%) from $2.2B to $1.4B. MEROS INVESTMENT MANAGEMENT, LP paced gains by adding $65.5M (+25.6%) to reach $321M, while BH ASSET MANAGEMENT, LLC rose $18.9M (+16.2%) to $136M.
Ten new firm filings added $774M in regulatory AUM, led by ESSENTIA FUND ADVISORS, LLC ($173.4M), STABILITY PARTNERS ADVISORY GROUP, LLC ($140.9M), and SOLIST FINANCIAL ($130.1M). Two firm exits removed $317.6M, driven by TALARA CAPITAL MANAGEMENT, LLC ($317.6M).
Form ADV regulatory AUM is based on SEC reporting guidelines and may not directly match fund size metrics reported in the press.
Also tracked: advisors +20 · locations +11
Top 2 AUM gains · $84.4M tracked across 2 firms
Top 1 AUM drops · $803.6M tracked across 1 firms
Top 3 by reported AUM · $774M entered · 6 of 10 new names had AUM
Top 1 by last reported AUM · $317.6M left · 1 of 2 exits had AUM