Coal units run by Drax Group Plc, Uniper SE and Electricite de France SA all started up this morning, bringing total coal-fired output to 1,493 megawatts, or about 3% of demand. With natural gas costs still high and wind waning, peak power prices for Friday settled above 1,000 pounds a megawatt-hour in an auction Thursday, potentially boosting coal-fed production further.

“The U.K. may further rely on coal output over the near term amidst rising gas prices, making coal economically viable over the short term,” RBC Europe said in an emailed note.

RWE AG’s gas-fired plant in Pembroke, Wales, suffered an unplanned outage, reducing that fuel’s share of demand to 49% on Friday morning, while wind fell to 20%. Wind generation is forecast to rise near record levels next week.

>>>ad: Don't Miss TODAY'S BEST Amazon Deals!

Originally Appeared Here

Spacs have lost some lustre in America, but stock exchanges in Singapore and Hong Kong are betting the vehicles will boost their allure to global investors and startups in the region.

The two Asian financial hubs have been pushing forward with competing plans to enable listings of special-purpose acquisition companies, which raise money and go public before finding businesses to merge with. Singapore launched its Spac rules in September, while Hong Kong is seeking public comment on its proposed regulations until the end of this month.

Both exchanges seek to perform a difficult balancing act — providing the flexibility that Spacs offer while ensuring that investors’ interests are protected.

In the US, a boom in Spac issuance has largely fizzled out. Share prices of many listed companies have tumbled, and regulators are adopting a harsher stance.

READ Elizabeth Warren, other Democrats issue letters of concern to Spac creators

The Asian exchanges intend more scrutiny of companies planning to raise money and the businesses they merge with.

“I call this Spac 2.0,” said Sung June Hwang, founder and chief executive officer of Atlas Growth Acquisition, a Spac that is expected to raise $110m on Nasdaq. “Both Hong Kong and Singapore have had the hindsight of observing the Spac development in the US, which is very, very valuable,” he said.

Hwang added that while many well-regarded firms and professional investors have sponsored and managed New York-listed Spacs, the recent boom also drew celebrities, sports figures and less-experienced investors.

Since neither Hong Kong or Singapore has previously allowed them, Spacs sponsored by Asian investors have also flocked to the US to raise money. Since the start of last year, 35 such Spacs have raised a total of $6.8bn by going public on American stock exchanges, according to Dealogic.

US-listed Spacs — whether sponsored by Western or Asian investors — have also sought out acquisition targets in Asia. There have been 15 announced mergers involving Asian companies over the same period, worth a total $52.8bn, according to Dealogic. The largest by far is a pending, $40bn deal involving ride-hailing giant Grab Holdings Inc.

“At some point, it would come as no surprise if the regulators start thinking, ‘Why don’t we handle part of the action ourselves?’” said Johnny Lim, director at Resource Law, a Singapore law firm that operates in an alliance with US law firm Reed Smith, referring to the exchange’s Spac rules.

READ Singapore set to be Asia’s blank-cheque hub with new rules permitting Spacs

Industry watchers say a string of deals is likely to follow. Michael Marquardt, CEO for Asia at IQ-EQ, a firm that provides services to investment funds, said clients are showing a lot of interest in launching Spacs in Asia.

John Lee, vice chairman and head of Greater China, global banking at UBS Group, said, “In general, everyone is quite interested in looking at launching Spacs in Hong Kong. They also hope the consultation will result in some requirements being refined to allow for easier implementation.”

Hong Kong, which has spent years cleaning up chicanery created by backdoor listings, has proposed some of the toughest rules on Spacs and laid out “investor suitability” criteria.

“It is nice to see that Hong Kong and Singapore are learning from the US to take that level up” in investor protection, said Marquardt at IQ-EQ.

“But it’s about getting the right balance,” he said. “I don’t think investors should solely rely on the regulators. They have their own responsibility.”

Hong Kong’s proposed rules would restrict access to Spac shares to institutions and wealthier individual investors until the vehicle has merged with a target company. In the US, small investors have at times piled into Spacs before deals are announced or completed, fueling big but often unsustainable share-price gains.

The Hong Kong exchange also said that at least one entity promoting a Spac would have to hold a financial or securities license from the city’s market regulator. The US has no such requirement.

Targets seeking to merge with a Spac must also follow a procedure similar to a Hong Kong initial public offering, hiring an investment bank to conduct due diligence and shepherd the company through the listing process.

Auditors and these investment banks will also have to sign off on any financial forecasts provided by targets. Given tough liability rules in Hong Kong, that could limit companies’ ability to use long-term projections to make a case for lofty business valuations. In the US, this has been one of Spacs’ main selling points over IPOs.

Hong Kong’s exchange also plans to mandate that at least 15% to 25% of the post-merger company’s market value come from a PIPE investment by investors independent of the Spac team. PIPE stands for private investment in public equity.

Many Spac mergers have included such funding, but it isn’t mandatory in the US or Singapore, and US PIPE investors aren’t always independent.

PIPEs might attract China-focused private-equity funds, which have been reluctant to invest in private startups due to regulatory and market uncertainty, said Marcia Ellis, a Hong Kong-based partner at law firm Morrison & Foerster. “It’s a quite safe investment compared to investing in a private company where you don’t know when the exit is going to come,” she said.

—Amrith Ramkumar contributed to this article.

Write to Jing Yang at Jing.Yang@wsj.com

This article was published by Dow Jones Newswires

>>>ad: Don't Miss TODAY'S BEST Amazon Deals!

Originally Appeared Here

By James Booth

Of Financial News

The government has launched a review of the U.K.’s capital raising rules to help make the U.K. a more attractive destination for listings.

The U.K. secondary capital raising review will examine whether rule changes and better use of technology could make capital raising more efficient for companies already listed on U.K. markets.

The review comes in response to Lord Hill’s U.K. listings review, which was published in March and aimed to make the U.K. a more attractive destination for IPOs and to improve capital raising for large and small companies

Chancellor Rishi Sunak has appointed Freshfields partner Mark Austin to lead the latest review.

“Our plans to boost U.K. markets go beyond attracting the world’s most successful companies to list here,” Mr. Sunak said.

“We want to make sure companies who already tap our world-leading capital markets can raise finance efficiently and include their current shareholders in the process.”

“I am pleased that Mark has agreed to spearhead this effort and take forward this important recommendation from Lord Hill’s U.K. listing review,” he added.

“The brief is to be reform minded and to look at it with fresh eyes,” Mr. Austin told Financial News.

He said the review would examine lessons from pandemic capital raisings, recent tech advances, practices in other jurisdictions, and how to get retail investors more involved during secondary raisings.

“There is a big accent on trying to make the market more accessible,” he added.

Companies raised 30 billion pounds ($40.78 billion) of new equity on U.K. capital markets in 2020 as they looked to shore up their balance sheets in the face of the Covid-19 pandemic.

Most of these businesses chose to raise funds through private placings with small groups of institutions, which can be completed quickly and at a low cost, but exclude existing shareholders and dilute their stakes in the company.

The Hill review found companies were deterred from using mechanisms like rights issues to raise cash because they involve greater costs, time and uncertainty, and require the publication of a prospectus.

The expert group chaired by Mr. Austin will review these regulatory barriers with the goal of increasing choices for listed companies seeking to raise capital.

It will look at the duration of the process, whether technology can be used to communicate better with shareholders and also examine fundraising mechanisms used in other international markets.

“Improving the efficiency of secondary capital raisings by listed companies is an important element of making the U.K. an even more attractive place for businesses to list,” Mr. Austin said.

“I am keen to receive views from a broad range of interested parties, which is why we are launching the review with the call for evidence,” he added.

The call for evidence will run until Nov. 9 with a final report expected in spring 2022.

Mr. Austin told FN the review was “a once-in-a-generation chance to look at this whole area and see if we can improve it for the better.”

Website: www.fnlondon.com

(END) Dow Jones Newswires

10-12-21 0833ET

>>>ad: Don't Miss TODAY'S BEST Amazon Deals!

Originally Appeared Here

LOS ANGELES, Oct. 11, 2021 (GLOBE NEWSWIRE) — via InvestorWire — DeFi Technologies Inc. (NEO: DEFI) (GR: RMJ.F) (OTC: DEFTF), a digital asset investment firm bridging the gap between traditional capital markets and decentralized finance, today announces that it has been featured in a broadcast via NetworkNewsAudio (“NNA”), a solution that delivers additional visibility, recognition and brand awareness in the investment community via distribution to thousands of syndication points. The audio press release covers DeFi Technologies’ recent announcement detailing the expansion of its management team.

To hear the audio production, visit: https://www.nnw.fm/BI0rY

To read the original press release, visit: https://nnw.fm/f4w0A

Per the news release, Russell Starr, Executive Chairman of DeFi Technologies, will assume the role of CEO; Diana Biggs, previously CEO of Valour Inc., will be the company’s Chief Strategy Officer; and Johan Wattenstrom, Co-founder and Director of Valour, will serve as the company’s COO.

Since the start of 2021, DeFi Technologies has completed the acquisition of Valour Inc., an issuer of digital asset Exchange-Traded Products (“ETPs”); introduced its DeFi Venture portfolio; and established its DeFi Governance business. Given the tremendous rise in interest and activity in the decentralized finance ecosystem, the expansion of DeFi Technologies’ executive team will allow the company to accelerate its growth trajectory further, with an aim to increase its global reach, build new partnerships and add lines of business.

“DeFi Technologies began with the vision of giving public markets investors early exposure to what I believe is the next wave of financial innovation. When I first joined as CEO, I could have only dreamt of where we are today,” Wouter Witvoet, President of DeFi Technologies, stated in the news release. “By expanding the management team with Johan and Diana, we have two seasoned professionals who will help grow our footprint in Europe in our asset management business and globally in DeFi Governance and Ventures. I am also thrilled that Russell Starr has agreed to come on board as CEO. Russell is an experienced capital markets professional who can carry the DeFi message to investors.”

About DeFi Technologies Inc.

DeFi Technologies Inc. is a digital asset investment firm bridging the gap between traditional capital markets and decentralized finance. Its mission is to expand investor access to industry-leading decentralized technologies and the future of finance. The company believes that decentralized technologies lie at the heart of financial innovation. On behalf of its shareholders and investors, DeFi Technologies identifies opportunities and areas of innovation, and builds and invests in new technologies and ventures in order to provide diversified exposure across decentralized finance. As a trusted partner for its clients and investors, the company provides industry-leading products and top-quality research and education in this fast-growing space. For more information, visit the company’s website at www.DeFi.tech

About NetworkNewsAudio

NetworkNewsAudio (“NNA”), one of 50+ brands within IBN (InvestorBrandNetwork), allows you to sit back and listen to market updates, CEO interviews and AudioPressRelease (“APR”) productions. These audio clips provide snapshots of position, opportunity and momentum. NNA can assist by cutting through the overload of information in today’s market, while bringing its clients unparalleled visibility, recognition and brand awareness. IBN is where news, content and information converge. IBN is a comprehensive provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, IBN has the unparalleled ability to reach a wide audience of investors, consumers, journalists and the general public with an ever-growing distribution network of 5,000+ key syndication outlets across the nation.

For more information, visit: www.NetworkNewsAudio.com

Please see full terms of use and disclaimers on the IBN website applicable to all content provided by IBN, wherever published or re-published: https://IBN.fm/Disclaimer

Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.

Corporate Communications

IBN (InvestorBrandNetwork)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com

>>>ad: Don't Miss TODAY'S BEST Amazon Deals!

Originally Appeared Here

The idea of ​​getting wealth in a flashy way is not new. After all, Charles Ponzi, named after the Ponzi scheme, tricked investors over 100 years ago with a get-rich-quick scheme built on a false foundation. Today, speculative investments, MLM companies, and other dangerous efforts to make a profit still set a fascinating trap.

You can always leave money in your interest-bearing account and take the time to do that, but isn’t it perfect for an exciting party conversation? Therefore, it opens and closes the account. We invest in hot stock and sell them at the first sign of bad news. We ruin money because it is believed in our minds that it takes effort to increase wealth.

“In almost everything else we do, the activity is rewarding. If I want to be a good runner, I should run every day. If I want to be a good painter, I always have to practice. “Morgan Housel, a partner of The Collaborative Fund and author of The Psychology of Money, said in an email. “But if you want to be a good investor, the best thing people should do is leave it alone, not trade, mess around. It’s so unique to investing that it’s intuitive. I think it goes against. “

In a world full of financial influencers who boast of buying NFTs and touting their friends, managing money in a way that almost yawns is perfectly fine. This is the reason.

Being bored gives you more time to live your life

Dealing with your money is a necessary chore and it’s not exactly fun. Thankfully, we live in an efficient era. In minutes, you can set up automatic money transfers that quietly send cash to separate accounts that serve a variety of purposes. Why keep money on your to-do list when it can literally happen on its own while you sleep?

“Money is a way for you to live your life, not life itself,” said Meg Bartelt, a financial planner and founder of Flow Financial Planning, in an email. “The more complex, modifiable, or frightening your investment is, the more time you spend working on it and thinking about it, and the less time you spend on your life.”

Being bored prevents you from making rush decisions

It’s important to check your investment account regularly, but being obsessed with all market movements can be exhausting and counterproductive. It can lead to reactive decisions that hurt your wealth in the long run.

Choosing to be boring with your money is an exercise to let go of the illusion of complete control. Yes, there is always 24-hour financial news, but not everything that is happening in the bigger economy affects you as an individual. Turn off mobile news and stock market alerts to avoid itching in response. Instead, carefully decide when to watch the news and check your account so that you can reduce stress and get information.

What does boring money management look like?

• Make a plan for you to (almost) stick: Bartelt is because everyone feels the same emotion, or fear, whether the client is avoiding money or is relentlessly tracking it. I think it is. Antidotes are financial plans based on specific goals and values. “It’s encouraging to make a plan,” she said. “People relax when they make a plan, or when they know to make a plan in hell.” Savings and investment goals depend on what you plan to spend in the short, medium and long term. .. Leave room for wiggles due to life changes and other uncertainties, as they are guaranteed to happen.

• Prepare for emergencies: There’s nothing particularly sexy about emergency funding, life insurance, and the latest will, but if something unexpected happens, these things will keep you financially stable. Useful for.

• Automate Money: Automatic transfer of funds from a check to a savings account or from a check to a checking account. Contribution to a 401 (k) through your work is also automation. Because that money comes directly from your salary. Make regular donations to different accounts, and as your budget allows, increase your accounts as your goals change and your nest eggs will grow.

Once you have a boring financial base, you can sprinkle more risky investments as needed. But stay true to your plans. “To stay true to our values ​​and goals, we need to actively and continuously ignore distractions, charatan and blowhards everywhere,” says Bertelt.

Tips for getting rich are everywhere. Friends brag about their latest money moves at parties while social media influencers advertise how to earn wealth. If you don’t have your own exciting financial news to share, you might be a little risky to miss. But increasing net worth doesn’t have to be conversational. In fact, if not, it can be more effective.

>>>ad: Don't Miss TODAY'S BEST Amazon Deals!

Originally Appeared Here

Thrasio, an early leader in the big business of Amazon aggregators, had a booth at the popular Prosper Show for Amazon sellers in Las Vegas, Nevada, on July 14, 2021.

Katie Schoolov

Thrasio, the top U.S. aggregator of Amazon third-party sellers, was racing to the public markets to fuel its rapid expansion. But the company has delayed its plan to go public through a SPAC amid complications with its financial audits, according to people with knowledge of the matter.

Thrasio had eyed completing a reverse merger with a special purpose acquisition company by the end of the year, before changing course over the summer, said the people, who asked not to be named because the plans haven’t been discussed publicly. The company could still pursue a SPAC, but is also considering other financing options, including a traditional IPO, the people said.

Turnover in the C-suite is adding to Thrasio’s challenges. Chief Financial Officer Bill Wafford, a former J.C. Penney CFO, left Thrasio in July, just three months after joining the company. Thrasio said it appointed Brian Cooper, chairman of marketing company Networx, as its interim CFO

And last month, co-founder Josh Silberstein resigned from his role as co-CEO, leaving fellow co-founder Carlos Cashman to serve as the company’s sole CEO.

Bloomberg reported in June that Thrasio was in talks to go public through a merger with a SPAC led by former Citigroup executive Michael Klein at a valuation that could top as much as $10 billion. The auditing process proved more difficult than for a typical e-commerce or tech company, because Thrasio now oversees more than 200 Amazon brands, creating a complex balance sheet, the source said.

Daniel Boockvar, Thrasio’s president, confirmed to CNBC on Friday that the company has decided not to pursue a SPAC for the time being, though he said, “We never announced firm plans to go public via SPAC.”

“Ultimately, our leadership team and our board looked at the market, which is no surprise, and decided that going public via SPAC is not the right choice at this time,” Boockvar said in an interview. “We’re growing our business amazingly well privately and that’s exactly what we’re going to continue to do.”

Boockvar declined to comment on whether the company is considering an IPO or other financing options in the future, but said “all options are available to us.”

Thrasio, which was founded in 2018, and its peers, like Perch, Heyday and Branded, scale up by buying promising products and storefronts, with the goal of using their data and operational expertise to turbocharge sales. At least 77 Amazon aggregators have raised roughly $10 billion in total since April 2020, according to Marketplace Pulse.

Last month, Thrasio said it raised $650 million in a senior debt facility, bringing its total debt and equity raised to more than $2.3 billion. It now oversees more than 200 brands with over 22,000 products across a range of categories, from skincare and camping equipment to home goods and fitness products.

Thrasio ranked 22nd on CNBC’s Disruptor 50 list this year.

WATCH: What’s behind the big hype and billion-dollar aggregator start-ups buying Amazon seller brands

>>>ad: Don't Miss TODAY'S BEST Amazon Deals!

Originally Appeared Here

Deloitte is reportedly being investigated in connection with its auditing of refinery company Essar Oil UK.

Deloitte resigned as the company’s auditor in October 2020, raising governance concerns around Essar Oil UK’s audit strategy. It did not raise such concerns when it signed off the company’s accounts for the 18 months to September 2019.

The Institute of Chartered Accountants in England and Wales has opened an investigation into whether the Big Four firm should have raised its concerns about Essar’s governance earlier than it did, the Financial Times reported, citing documents it had seen.

READ Deloitte execs share £14m profit after Covid-19 contract boom

An ICAEW case manager wrote in the documents cited by the FT that “given the contents and timing of the resignation statement [relative] to the audit report issued I do have some potential concerns regarding the audit report issued”.

Deloitte, Essar and the ICAEW were contacted for comment.

The ICAEW is also examining whether Deloitte missed a deadline for filing the reasons for its resignation at Companies House. It is also reportedly examining how Deloitte dated documents when it did file them almost six months after its resignation.

Auditors that resign over governance concerns are required to file a statement of reasons at Companies House within 28 days. Deloitte filed a statement in November 2020, but it was deemed unacceptable and returned, according to a Companies House response to a freedom of information request, seen by the FT.

READ Here’s why the audit watchdog hit Deloitte with a record £21m fine for Autonomy audit

The second statement was not sent to Companies House until April 2021, almost six months on from Deloitte’s resignation.

Deloitte was fined £15m last year plus more than £5m in costs for its conduct during its audit of software company Autonomy.

Last month the Big Four firm revealed that its partners would receive more than £1m in average partner pay for the year to 31 May.

Deloitte’s revenue grew 4% to £4.5bn in the period, while operating profit jumped 23% to £756m from £611m the previous year.

To contact the author of this story with feedback or news, email James Booth

>>>ad: Don't Miss TODAY'S BEST Amazon Deals!

Originally Appeared Here

NatWest Group pleaded guilty to criminal charges for failing to comply with regulation that requires systems and controls to prevent money laundering.

The bank entered the plea at Westminster Magistrates Court, following charges brought by the Financial Conduct Authority.

The case is now being referred to the Southwark Crown Court for sentencing, the FCA said.

This is the first criminal prosecution under the Money Laundering Regulations 2007 (MLR 2007) by the FCA. 

No individuals are being charged as part of these proceedings.

In a market statement on 7 October, NatWest said the “regulations required the firm to determine and conduct risk sensitive ongoing monitoring of its customers for the purposes of preventing money laundering”.

“The offences relate to operational weaknesses between 2012 and 2016 which meant that NatWest did not adequately monitor the accounts of that customer,” the lender said.

NatWest said it had fully cooperated with the FCA since the inquiry began.

A provision will be made in NatWest’s Q3 2021 financial accounts in anticipation of a potential fine being imposed at that hearing, the lender said.

READ FCA launches criminal proceedings against NatWest over money laundering failures

NatWest CEO Alison Rose said: “We deeply regret that NatWest failed to adequately monitor and therefore prevent money laundering by one of our customers between 2012 and 2016. NatWest has a vital part to play in detecting and preventing financial crime and we take extremely seriously our responsibility to prevent money laundering by third parties.

“In the years since this case, we have invested significant resources and continue to enhance our efforts to effectively combat financial crime. We work tirelessly with colleagues, other banks, industry bodies, law enforcement, regulators, and governments to help find collaborative solutions to this shared challenge. These partnerships are crucial to counter the significant and evolving threat of financial crime to society.”

Tony Wyatt, associate counsel at Ewing Law, said that the most likely consequence of today’s plea — other than a significant financial penalty and a black mark against the NatWest name — will surely be a stricter adherence by both this and other financial institutions to the money laundering regulations that apply to the banking industry.

“In many ways this will be a good thing; no one would argue that our high street banks should be turning a blind eye to illegal conduct. Experience shows, however, that the pendulum rarely falls where it should, and it is impossible to rule out the kind of over-application of the regulations that could severely hamper individuals and/or businesses in legitimate but cash-based industries.

“Will we now see even regular, innocuous and relatively minor cash deposits result in frozen accounts and cash flow problems that could cripple a smaller enterprise? I fear this is the most likely outcome: once again it will be small, legitimate businesses that bear the brunt of the changes that are to come.”

To contact the author of this story with feedback or news, email Penny Sukhraj

>>>ad: Don't Miss TODAY'S BEST Amazon Deals!

Originally Appeared Here

Finding the right financial advisor to help with your financial needs and goals can be complicated.

There are so many things to consider. Every financial advisor has his or her own area of expertise. The services provided by financial advisors will vary based on the type of advisor, but overall, a financial advisor will assess your current financial situation — including your assets, debts and expenses — and identify areas for improvement.

A good financial advisor will ask you about your goals and create a plan to help you reach them. That may mean discussing your budget, retirement planning, estate planning, insurance needs or tax strategies.

An advisor can play a major role in helping clients grow and protect their wealth. The key is to find an advisor you trust, and it’s important to make sure he or she is someone who is a good match for you.

For the third year in a row, CNBC unveils its ranking of top financial advisors. The CNBC FA 100 recognizes those advisory firms that best help clients navigate their financial lives.

More from FA 100:
Meet the financial advisor ranked No. 1 by CNBC
Here’s how we determine the FA 100 rankings for 2021
How the pandemic has changed the financial advice business
Here’s how top financial advisors are hiring young talent

2021 RANK	FIRM	TOTAL AUM	YEARS IN THE BUSINESS	ACCOUNTS UNDER MANAGEMENT	2020 RANK	2019 RANK
1	Dana Investment Advisors	$7.3B	41	1,163	2	3
2	Salem Investment Counselors	$2.6B	42	2,239	1	1
3	NewSouth Capital Management	$3.7B	36	190	3	6
4	Check Capital Management	$1.6B	35	1,684	12	52
5	Richard C. Young & Co.	$1.3B+	32	1,860	10	10
6	Gofen & Glossberg	$6.3B+	89	3,500	13	15
7	California Financial Advisors	$1.6B+	23	2,901	9	7
8	North Star Asset Management	$2.1B+	25	2,374	14	5
9	Heritage Investors Management	$3.4B	47	1,300	–	–
10	Tom Johnson Investment Management	$1.6B	38	4,998	8	9
11	Beacon Capital Management	$4.2B+	21	15,427	24	–
12	Bowen, Hanes & Co.	$3.5B+	40	212	28	98
13	Mason Investment Advisory Services	$10.6B+	39	800	100	–
14	D.F. Dent & Co.	$10.7B	46	1,155	18	20
15	Gillespie, Robinson & Grimm	$1.5B	51	710	26	32
16	Pzena Investment Management	$41.1B+	25	222	27	34
17	Woodley Farra Manion	$1.2B	26	998	19	–
18	RNC Genter Capital Management	$5.8B	54	10,700	30	–
19	Parsons Capital Management	$1.6B+	27	1,608	16	37
20	ZWJ Investment Counsel	$3B	39	900	34	39
21	David Vaughan Investments	$3.2B+	27	2,823	33	46
22	Luther King Capital Management	$25B	42	3,100	25	24
23	Gamble Jones Investment Counsel	$1.6B+	64	1,200	15	12
24	Heritage Investment Group	$1.3B+	28	1,836	32	42
25	Carret Asset Management	$3.3B+	58	2,350	23	14
26	Edgemoor Investment Advisors	$1.2B+	22	730	40	–
27	Clifford Swan Investment Counselors	$4B	106	903	55	58
28	Eubel Brady & Suttman Asset Management	$1.2B+	27	1,591	31	36
29	Zemenick & Walker	$2.2B+	34	223	36	30
30	Everett Harris & Co.	$8.9B+	51	1,590	21	44
31	Southeast Asset Advisors	$2.9B+	26	973	41	26
32	Guyasuta Investment Advisors	$1.9B+	38	1,200	43	18
33	Leavell Investment Management	$2.2B	42	700+	48	38
34	H.M. Payson & Co.	$6B	167	3,400	53	43
35	Anchor Capital Advisors	$9.7B	38	1,114	83	65
36	Zevenbergen Capital Investments	$5.7B	34	161	37	–
37	Hahn Capital Management	$1.2B+	33	105	38	86
38	The Burney Company	$2.4B+	47	4,233	47	53
39	Azzad Asset Management	$1.3B	24	2,990	–	–
40	Roffman Miller Wealth Management	$2B	30	1,150	56	29
41	Wilbanks, Smith & Thomas Asset Management	$4.6B+	30	4,708	69	–
42	Loring, Wolcott & Coolidge Fiduciary Advisors	$10.5B+	21	3,054	42	27
43	Equius Partners	$1.1B	37	1,097	39	–
44	Bradley, Foster & Sargent	$4.1B+	26	1,514	45	31
45	Pinnacle Associates	$7.3B	37	4,000	79	–
46	RZH Advisors	$1.4B+	21	354	–	–
47	Veritable	$18B	17	218	46	25
48	Lee Financial	$1.2B	46	400	65	40
49	Halbert Hargrove Global Advisors	$2.7B+	32	3,900	61	66
50	Albion Financial Group	$1.5B+	39	2,192	–	–
51	R.M. Davis	$6.1B	43	5,812	–	–
52	Badgley Phelps Wealth Managers	$4.3B	55	1,895	54	21
53	Pittenger & Anderson	$2.4B+	26	1,644	67	71
54	Schaper, Benz & Wise Investment Counsel	$1.3B+	30	772	49	–
55	Beese Fulmer Private Wealth Management	$1.2B	41	965	–	–
56	BKD Wealth Advisors	$4.9B+	23	5,547	60	–
57	Farr, Miller & Washington	$2.1B	25	1,307	64	–
58	Segall Bryant & Hamill	$25B	26	4,812	68	70
59	Foster & Motley Wealth Management	$1.9B+	24	2,943	58	51
60	Meritage Portfolio Management	$2.2B	30	560	59	49
61	Diversified Management	$1.3B+	28	1,516	11	19
62	C.W. Henderson & Associates	$3.9B+	31	1,431	73	85
63	Charles D. Hyman & Co.	$1.9B	28	931	72	94
64	Henssler Financial	$2.6B+	34	4,372	80	–
65	Brown Capital Management	$18.4B+	30	126	74	–
66	Lee, Danner & Bass	$1.4B	33	900	85	79
67	Steele Capital Management	$2.7B+	25	3,926	81	67
68	RTD Financial Advisors	$1.8B+	38	694	57	68
69	TFC Financial Management	$1.3B	41	1,300	–	–
70	Beaird Harris	$1.2B+	25	2,499	66	–
71	Phillips Financial	$1.2B+	17	1,996	–	–
72	Index Fund Advisors	$4.7B	21	2,348	93	76
73	HBKS Wealth Advisors	$5.1B+	20	5,705	–	–
74	E. S. Barr & Co.	$1.7B	29	833	99	100
75	Sage Financial Group	$2.7B+	32	675	62	50
76	The Financial Advisory Group	$1.1B	24	2,033	–	–
77	Willow Creek Wealth Management	$1.6B	37	2,600	–	–
78	SJS Investment Services	$2.5B+	26	2,350	–	–
79	Jackson Thornton Asset Management	$1.3B+	22	915	–	–
80	Legacy Wealth Management	$1.9B+	39	3,370	94	–
81	Bedel Financial Consulting	$1.8B+	32	4,129	97	–
82	Sheaff Brock Investment Advisors	$1.3B	20	2,064	95	–
83	Plancorp	$5.6B+	38	1,415	–	–
84	Prio Wealth Management	$3.5B	33	1,500+	–	–
85	Meyer Capital Group	$1.5B+	58	2,157	71	–
86	Eagle Global Advisors	$1.9B+	25	400	–	84
87	Sadoff Investment Management	$1.7B	43	1,222	–	–
88	Palisade Capital Management	$5.3B	26	2,165	90	–
89	Chevy Chase Trust Company	$37.3B+	22	4,408	–	–
90	Cadinha & Co.	$2.1B+	42	1,357	50	56
91	Summit Financial Strategies	$1.5B+	26	850	89	75
92	StraightLine Group	$1B+	19	5,600	–	–
93	First Foundation Advisors	$5.3B	31	3,600	–	–
94	Intersect Capital	$1.6B	7	440	–	–
95	Southern Wealth Management	$3.4B+	16	232	–	–
96	Foster Group	$2.6B	30	4,764	–	–
97	Bailard	$5.2B	52	2,080	86	54
98	View Capital Advisors	$1.3B+	17	135	–	–
99	Shufro, Rose & Co.	$2B	83	2,878	–	–
100	ML&R Wealth Management	$1.7B+	24	2,193	–	–

>>>ad: Don't Miss TODAY'S BEST Amazon Deals!

Originally Appeared Here

Morgan Stanley is set to commit $1m to start-ups run by women or ethnic minorities in Europe, as the Wall Street bank expands a programme it has run in the US since 2017.

The US bank is aiming to help provide seed capital to a group of companies that often struggle to find funding, and will be offering £200,000 each to five start-ups in Europe, the Middle East and Africa with either female or ethnic minority founders in a ‘Dragons’ Den’ style pitch process run over five months that allows entrepreneurs to present to investors.

The bank said in a statement that less than 3% of the venture capital funds invested in the UK went to all-female founders, and less than 2% to teams run entirely by ethnic minority professionals. The programme has run in the US for the past four years, where 50 start-ups have received a total of $80m.

READ Morgan Stanley launches recruitment programme to improve Black and gender diversity

Morgan Stanley will start receiving applications for the European programme from January, with the aim to begin the course in August. Over a period of five months, firms will receive mentoring and coaching from Morgan Stanley bankers, before a ‘demo day’ where they pitch to a network of investors.

“Establishing a platform in London giving access to critical advice, experience and funding to
women- and minority-owned enterprises is not only something we are well-positioned to offer,
but also allows us to address a significant market inefficiency,” said Clare Woodman, Morgan
Stanley’s Head of Emea and co-sponsor of the Emea Lab in statement.

READ Why JPMorgan wants to hire Olympic-level athletes as bankers

The Emea lab will be run by Morgan Stanley banker Sanghamitra Karra, who said that the US experience showed “the critical importance of dedicated growth capital and access to strategic advice and mentorship”.

To contact the author of this story with feedback or news, email Paul Clarke

>>>ad: Don't Miss TODAY'S BEST Amazon Deals!

Originally Appeared Here