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Day brief
In today's Daily Advisor News, net AUM flow registered at -$486.7M, alongside net additions of 38 advisors and 15 locations. Existing firms gained $585.4M while losing $50.7M in regulatory assets.
ROSENBERG WEALTH ADVISORS led all gainers with a $231M increase to reach $231M in AUM. RIVERBEND CAPITAL ADVISORS, LLC grew by $139.8M (+14.5%) to $1.1B, and AXXETS WM added $101.3M. The top single decline came from PARK STREET CAPITAL ADVISERS, L.L.C., which fell $50.7M (-9.1%) to $505.9M.
New firm filings brought $1B across 12 new entities, led by FUSION CAPITAL with $461.4M, J.P. CAPITAL MANAGEMENT, INC. with $166.6M, and BISON WEALTH MANAGEMENT, LLC with $131M. On the exit side, 2 deregistered firms accounted for $2B in dead AUM, led by 8 KNOTS MANAGEMENT, LLC. Form ADV regulatory AUM figures may differ from fund size or press reports.
Also tracked: advisors +38 · locations +15
Top 3 AUM gains · $585.4M tracked across 6 firms
Top 1 AUM drops · $50.7M tracked across 1 firms
Top 3 by reported AUM · $1B entered · 6 of 12 new names had AUM
Top 1 by last reported AUM · $2B left · 1 of 2 exits had AUM