Welcome to our very first Weekly Alts News Roundup! Read on to learn the latest developments in the alts space.
Top Story
• LPL Financial to Acquire Commonwealth Financial Network
The hubbub: In acquiring the nation’s largest independently owned wealth management firm, LPL says it will shore up its ranks with some 2,900 additional financial advisors who share its corporate culture and manage roughly $285 billion of brokerage and advisory assets.
The fallout: As reported by Citywire, Fidelity, the primary custody provider for Commonwealth, stands to lose a substantial amount of Commonwealth assets amid the $2.7 billion cash purchase. A source also tells Citywire that the deal represents a “generational” opportunity for outside firms to recruit current Commonwealth advisors.
Technology
Just as we kick off Wealthtech Month, there’s an array of wealthtech news, including moves by several alts subscription platforms and marketplaces to bolster SMA and UMA services:
According to the just-published 2025 CAIS and Mercer Survey, 77% of advisors would use or consider model portfolios to streamline allocations, with nearly half (47%) citing model portfolios as a top resource for portfolio construction. The survey collected responses from 550 financial advisors in September and October 2024.
• SEI Expands Direct Index Equity SMA Options
The move adds six new indexing strategies — including three from Parametric — to the service provider’s model portfolios.
• BlackRock Unveils New Platform Blending Public and Private Market Assets
In a joint venture with wealthtech firms GeoWealth and iCapital, BlackRock has rolled out a new investment platform that enables advisors to manage both public and private market assets within a single account, Connect Money reports.
Quick Reads
• Apollo eyes $4bn strategic exit from CMG
• Ares Acquires Stake in 900 MW U.S. Solar and Storage Portfolio from Engie
• BC Partners Set to Raise $1.4 Billion for Private Credit Fund
