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A $203B-AUMS Firm Will Buy a Direct Indexer
A $203-billion-AUMS (assets under management or supervision) (as of May 31) ETF shop (which also offers SMAs, CEFs, and traditional mutual funds) is preparing to buy a four-year-old direct indexer.
Berkshire Global Advisors advised Veriti on the deal. Chapman and Cutler LLP provided legal counsel to First Trust, while Nixon Peabody did so for Veriti.
"Customization through direct indexing empowers the advisor to deliver personalized and tax-advantaged solutions that better align with the investment objectives, values and interests of their clients," Issakainen states.
"Veriti, teamed with a renowned ETF provider and asset management leader in First Trust, will empower advisors and institutions to address their clients' investing preferences at a far deeper, more personalized level," Dilworth states.
Printed from: MFWire.com/story.asp?s=64627
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