Service-Sector Data Brings Downbeat Day for Stocks (WSJ)
Family Office Deal Tracker
Specializing in robotics for industrial automation, 4AG Robotics, has raised $40M in a Series B funding round with participation from James Richardson & Sons
Thomas Tull's family office, Tulco has participated in a $100M Series B financing round for Oxide Computer Company
TOPVIEW.AI, an AI-powered video editing tool, raised $8.5M in a Series A funding round with support from Singapore-based Kamet Capital Partners
Susquehanna Private Capital has participated in a $70M Series C funding round for the AI-driven cyber risk management firm, Safe Security
Fossil Rock Private Wealth, a Fort Worth-based team with $400M in client assets led by veteran advisor Larry Milton, has joined Sanctuary Wealth’s network through its Partner Firm mFORCE Capital, which oversees $1.9B in assets
Milton, formerly of Merrill Lynch and Truist, is now recognized as Co-Founder of mFORCE and brings along a seasoned team from Truist to operate Fossil Rock as an independent entity
The partnership is rooted in a 35-year professional relationship between Milton and mFORCE CEO Bradley Bruce, who launched mFORCE after leaving Merrill Lynch and helped design Sanctuary’s Enterprise Partner Program
Fossil Rock joins the network to gain greater control, flexibility, and scale, aiming to expand its family office services and small business support
With support from Tru Independence, a team of advisors managing approximately $2.3B in client assets has broken away from Ameriprise to launch Laurel Oak Private Wealth(Citywire)
Jerry Garcia and Chris Gatsch, former JPMorgan private bankers, have launched Alta Vera Global Capital Advisors, which focuses on wealth-management services as well as capital raising and hedging solutions (WealthManagement.com)
$350M Roanoke Asset Management has been acquired by First Manhattan, marking its second deal this year (Citywire)
Savant Wealth Management has acquired Silicon Valley-based Parkworth Wealth Management, bringing in $216M in assets (Citywire)
Reps On the Move ↗️
Former partner at McKinsey & Company EmilyField joins LPL as Chief People Officer (WealthManagement.com)
The Cincinnati-based fund manager, Touchstone Investments, has hired Mike Day as Divisional Vice President and James Kissane as Director and Senior Strategic Relationship Officer (WealthManagement.com)
Keith Kotfica, former Edelman Financial Engines executive, joins Choreo as Chief Growth Officer helping lead its partnerships with CPA firms (Citywire)
Jeff Smith joins the private equity-backed $8B Plancorp as Chief Operating Officer (Citywire)
Quant Hedge Funds Falter in Trade-War Chaos
Quantitative hedge funds built to thrive on market turmoil are faltering amid this year’s trade-driven volatility, casting doubt on the resilience of trend-following strategies. These funds, which rely on algorithms to detect and ride market trends, have posted steep losses—down 9.6% in the first half, their worst start since at least 1998. Industry giants like Man Group, long a leader in this space, have seen flagship funds like AHL Alpha and AHL Evolution tumble, slashing performance fees and stock value. The problem? Trend followers thrive on sustained directional movement. But President Trump’s erratic tariff announcements have produced short, choppy market swings, which are too fast and unpredictable for these models to capitalize on. While Man Group insists “trend-following is not broken,” critics argue that the strategy's limitations are exposed in sideways or whiplash markets. Despite previous comebacks during crises like 2008 and 2022, the current environment is testing investors’ patience and the value proposition of CTAs.
FINTRX is an industry-leading AI-powered data intelligence solution covering 850,000+ financial firm and contact records, designed to empower industry professionals to efficiently and effectively engage with the global private wealth ecosystem. With innovative AI utility, detailed search parameters and customizable workflow tools, FINTRX enables seamless tracking of allocation trends, in-depth analysis of investment data, high-level relationship mapping and much more. To learn more or request a trial of the FINTRX product, click below.
.jpeg?upscale=true&width=154&upscale=true&name=download%20(63).jpeg)
