Capital Group, KKR Expand Partnership, CFP Board Releases Exam Results
Capital Group, KKR Expand Partnership
Capital Group and KKR today announced an expansion of their strategic partnership to deliver new, integrated retirement and wealth solutions. The collaboration builds on their launch of public-private investment strategies in 2025.
The firms will exclusively partner to develop two new offerings that broaden private market access for retirement savers, including:
- A target date fund (TDF) solution for defined contribution plans that is constructed as a holistic portfolio featuring public market strategies managed by Capital Group and private market strategies managed by KKR.
- Public-private model portfolios that integrate public market strategies managed by Capital Group and private market strategies managed by KKR within diversified wealth portfolios.
“Our goal is to redefine what’s possible for investors through best-in-class strategies that combine the strengths of both public and private markets,” said Mike Gitlin, President and CEO of Capital Group and Scott Nuttall, Co-CEO of KKR. “Solving the challenges investors and their advisors face when incorporating private markets into their portfolios requires true collaborative partnership. By expanding this partnership, we’re building a platform that brings the diversification benefits of private markets to more investors — from wealth portfolios to defined contribution plans — in ways neither firm could achieve alone.”
Capital Group and KKR have already partnered on a series of public-private funds, including Capital Group KKR Core Plus+ and Capital Group KKR Multi-Sector+ credit strategies. The first public-private equity fund, Capital Group KKR U.S. Equity+, has been filed and is expected to launch in early 2026 pending regulatory approval. There is also a public-private real asset strategy in development, targeted for late 2026.
The collaboration extends beyond investments to education and advisor enablement.
“At a pivotal moment for wealth management and retirement markets, investors are seeking more holistic solutions and greater choice. Capital Group and KKR are committed to leading this transformation, passionately focusing on education, transparency, and innovative products that empower financial advisors and their clients,” said Matt O’Connor, CEO of Capital Group’s Client Group.
Eric Mogelof, KKR’s Global Head of Client Solutions added, “Our expanded partnership reflects a shared belief that more investors deserve access to high-quality private investments. By combining Capital Group’s public markets investment rigor with KKR’s private market depth, we’re redefining what’s possible for financial professionals and their clients. Defined contribution plans and IRAs can benefit from the diversification of private markets, just like defined benefit plans do today.”
The firms also plan to collaborate more broadly on insurance asset management, with Global Atlantic — KKR’s insurance subsidiary — by leveraging Capital Group’s fixed income experience to manage portions of its assets.
Next Article: CFP Board Announces Exam Results
CFP Board Announces Exam Results
CFP Board has announced the results of the November 2025 CFP Certification Exam.
The exam was administered during a November 3 to 12 testing window to 3,970 candidates. Following the largest ever July CFP Certification Exam, this is the second largest number of people to ever sit for a CFP Certification Exam in November. The pass rate for the November exam was 64%.
In 2025, a total of 11,037 people took the exam, a new high for the annual number of CFP exam candidates.
“People seek out financial planners who demonstrate real competence, expertise and a commitment to serving clients well,” said CFP Board CEO Kevin R. Keller, CAE. “These strong exam numbers show the value that CFP® certification delivers and why so many professionals are choosing this path to deepen their impact.”
According to the November 2025 post-exam survey, the main reason exam candidates seek CFP certification is to demonstrate their expertise on the job (41%), followed by distinguishing themselves as a fiduciary (32%). More than three in five (64%) of November exam-takers say they received some level of financial support from their employers on their path to CFP® certification.
Of the candidates registered for the CFP exam, 72% were under 40 years old, and 42% were under age 30. The 10 states with the most CFP exam candidates were California, Texas, Florida, New York, Pennsylvania, Illinois, North Carolina, Ohio, New Jersey and Massachusetts, and exam candidates from those states made up 53% (2,115 individuals) of the total November 2025 candidate cohort.
Statistics from previous exams, including those from the November 2025 exam, are available on CFP Board’s exam statistics webpage.
Next Article: 401GO Partners with Catapult on Advisor Workflow
401GO Partners with Catapult on Advisor Workflow
401GO, a fully-owned 401(k) platform built for advisors, has entered a new partnership with Catapult HQ, Inc., a digital RFP system. The collaboration is said to remove long-standing bottlenecks for advisors caused by the plan comparison and selection process.
Catapult’s platform, used by more than 30,000 advisors, will now connect directly to 401GO’s recordkeeping system.
“We are thrilled to partner with Catapult. As they streamline the RFP process with precision, 401GO delivers recordkeeping that drives operational efficiency and fiduciary confidence for our advisor community,” said Stan Smith, CGO of 401GO.
Catapult has spent the last several years standardizing how advisors run RFPs, replacing spreadsheets and inconsistent formats with a single, structured process. By linking directly to 401GO, advisors can route RFP outcomes straight into onboarding without extra steps.
“401GO and Catapult naturally fit together. Simple, fast, and built to remove friction,” said Justin Witz, CEO of Catapult HQ, Inc. “Our partnership gives advisors and plan sponsors the clarity they’ve been asking for without the busywork.”
The partnership is already producing early activity, with official activation set for January 2026.
Next Article: Morningstar Updates Rating Structure
Morningstar Updates Rating Structure
Morningstar, Inc., a leading provider of independent investment insights, has announced updates to its Morningstar Medalist Rating, its comprehensive rating for managed investments.
The updated methodology, which will go live globally in April 2026, is designed to simplify the rating structure, make the rating more transparent for investors, and enhance stability.
“We’re simplifying key elements of our forward-looking Medalist Ratings to increase usability and give investors a clearer view into how ratings are determined,” said Laura Lutton, global head, manager research. “These updates provide the clear, easy-to-interpret insights the industry has been seeking.”
The enhancements include:
Transparent Pillars: Quant-driven fundamental pillars (People, Process, Parent) will now include greater visibility into the underlying inputs — including new metrics like Fund Manager Successful Experience— so investors can better understand how a Medalist Rating is determined. There will continue to be a delineation between pillar ratings that come from an analyst or algorithm.
Simplified Structure: Funds are evaluated against their Morningstar Category average rather than a benchmark, enabling investors to more easily identify Medalist options within a category and make meaningful peer comparisons.
New Price Score: A Morningstar Medalist Rating Price Score from –2.5 to 2.5 will explicitly reflect whether an investment’s fee is a liability or competitive advantage, subtracting from or adding to the overall rating.
Fixed Rating Thresholds: Medalist Ratings will be determined by a simple combination of fundamental pillar ratings and a Medalist Rating Price Score, increasing stability by eliminating a forced distribution of ratings that caused ratings to change based on updates to other funds.
The ratings scale will remain a five-tier system: Gold, Silver, Bronze, Neutral, and Negative. Analyst input is central, with algorithm-generated pillars activated only when an analyst rating is not available.
“Our updated methodology and approach reinforce the value of human expertise combined with data-driven rigor, resulting in assessments that are deeply informed by real-world experience,” Lutton said.
Next Article: Nevis Secures $35M in Series A Funding
Nevis Secures $35M in Series A Funding
Nevis, an AI platform for wealth management, has raised $35 million in a Series A round from Sequoia Capital, ICONIQ and Ribbit Capital, bringing its total funding to $40 million less than a year after founding.
Nevis builds AI tools that help financial advisors automate their administrative workflows end-to-end. The company supports registered investment advisors (RIAs) that collectively manage more than $50 billion in client assets.
“We’re building a future where every financial advisor is supported by an AI platform that can actually complete operational tasks end-to-end,” said Mark Swan, CEO of Nevis.
“From helping advisors prepare for client meetings to opening custodian accounts, Nevis streamlines the workflows that consume the majority of an advisor’s time. With this level of automation, advisors can focus on what matters most: delivering best-in-class client service and growing their business.”
Nevis’s customers include wealth management firms of all sizes, from national RIAs serving high-net-worth clients like United Capital and Apollon Wealth Management, to firms focused on ultra-high-net-worth families like GC Wealth.
Nevis was founded by Mark Swan now CEO, Philipp Burda, now chief product officer, and Ivan Chalov, now chief operating officer. All were formerly executives at Revolut, a digital bank serving over 65 million clients globally and Europe’s highest valued private technology company.
The $35 million Series A comes less than a year after its $5 million seed round which was led by Sequoia. As part of the round, Sequoia’s Luciana Lixandru will be joining the Nevis board. Ribbit Capital, best known as an early backer of category-defining financial technology companies including Robinhood, Nubank, Coinbase, and Revolut, invested in the Series A, alongside ICONIQ, a global VC and wealth management firm for ultra-high net worth individuals.
Next Article: Sanders Wealth Management Joins Osaic
Sanders Wealth Management Joins Osaic
Osaic, Inc. has announced that Sanders Wealth Management, an independent wealth management firm based in Upstate South Carolina, has joined its network after transitioning from Cetera. Led by President Nathan Sanders, the team oversees approximately $220 million in client assets.
“At Sanders Wealth Management, our mission has always been to put people first and guide them through every stage of their financial lives with clarity and care,” said Sanders. “As we evaluated the next phase of our growth, it became clear that Osaic was the best-suited firm to help us deliver on our mission of putting people first, and planning for today and tomorrow together.”
With more than 50 years of combined experience, the Sanders Wealth Management team specializes in creating personalized retirement and estate planning strategies aligned to each client’s financial goals. By joining Osaic, the team gains access to an expanded technology platform, broader investment solutions and a suite of resources designed to strengthen both client service and operational efficiency.
“Nathan and his team bring incredible energy and expertise to our Osaic community, and we’re honored to support their continued journey,” said Kristen Kimmell, executive vice president of business development at Osaic. “With Osaic’s platform supporting them, we look forward to helping them drive productivity and efficiency, creating more time to focus on their clients and grow their business.”
Sanders Wealth Management joins a growing list of independent firms aligning with Osaic from Commonwealth and other firms. Other recent additions include Soundview Financial Group, Four Pillars Investment Management, and Gallagher Financial.
Next Article: Lincoln Financial Names Chief AI Data and Analytics Officer
Lincoln Financial Names Chief AI Data and Analytics Officer
Lincoln Financial has appointed Nilanjan (Neel) Adhya as executive vice president, chief AI, data and analytics officer (CAIDAO), effective January 9, 2026.
In this newly created role, Adhya will advance AI and data as enterprise core capabilities. He will report to Ellen Cooper, chairman, president and CEO, and will join Lincoln’s Senior Management Committee.
Since 2021, Adhya served as chief digital officer and global head of Digital Platforms and Experiences at BlackRock, where he orchestrated client-facing AI initiatives and modernized the firm’s digital approach to deliver personalized and integrated at-scale customer-centric capabilities.
“As we continue to position Lincoln for future growth, we are building the foundational capabilities that will allow us to operate with greater speed, efficiency and insight. AI and data play an increasingly important role in supporting the optimization of our operating model,” said Cooper. “Under Neel’s leadership, we will take a thoughtful and disciplined step forward in leveraging AI to support business needs and drive tangible business outcomes.”
Prior to joining BlackRock, Adhya spent 16 years at IBM in various leadership roles, ultimately serving as chief digital officer and vice president of Digital Transformation. Adhya holds a master’s degree in Strategy and Finance from Yale University’s School of Management and a master’s degree in industrial engineering and Operations Research from the University of Illinois at Urbana-Champaign.
“I am honored to join Lincoln. Our opportunity is to apply AI and data in a focused, disciplined way that directly supports our strategy – enhancing the experience we deliver to customers, improving how work gets done and opening new pathways for innovation,” said Adhya. “This is about building enduring capabilities that accelerate our work, support growth and deliver value for clients, policyholders, shareholders and our employees.”
Next Article: Sequoia Financial Acquires Sterling Financial
Sequoia Financial Acquires Sterling Financial
Sequoia Financial Group, LLC, an SEC-registered wealth manager with $29.9 billion in assets under management as of Sept. 30, 2025, has acquired Sterling Financial Group, Inc., an independent investment advisory firm based in Pasadena, California. Terms of the transaction were not disclosed.
Sterling Financial advisors have provided personalized investment advisory services to individuals, multi-generational families and small businesses in Pasadena since 1998. The SEC-registered firm has a team of seven, 200 clients in more than a dozen states, and $406 million in assets under management as of Sept. 30, 2025.
Sterling Financial’s Michael Hatch, owner and managing principal, and Kody Brown, financial advisor and principal, are now equity owners in Sequoia Financial.
Tom Haught, chairman, CEO and president of Sequoia Financial, said, “The team at Sterling Financial is an excellent cultural fit and gives us a stronger foothold into California, the nation’s most populous state. We welcome the experienced and talented Sterling Financial team and their clients to the Sequoia Financial family.”
“Sterling Financial specializes in working with both long-term clients and those dealing with once in a lifetime transitions, such as a business succession or settling the estate of a loved one,” said Hatch. “In Sequoia Financial, we have found a true partner that understands our holistic approach. We have great confidence in our future together—one that emphasizes an exceptional client experience and is anchored in continual investments in the growth and development of our team.”
Brown added, “We studied the marketplace, and it was evident that Sequoia’s deep investment research platform and technology leadership would best serve our clients in the years ahead.”
The Sterling Financial acquisition builds on Sequoia Financial’s wealth management relationship with top 20 accounting firm Eide Bailly, announced in late 2024, by establishing Sequoia’s first standalone office in California. Previously, the Sequoia Financial team had a presence in Eide Bailly’s offices in Irvine and Torrance.
Akron, Ohio-based Sequoia Financial supports more than 11,500 client households across the wealth continuum and has served high-net-worth individuals and families for more than three decades. The firm launched Sequoia Sentinel in 2023 to expand its family office capabilities.
Sequoia Financial has grown organically and through acquisitions to expand its services and geographic footprint. Since 2023, Sequoia Financial has made 11 acquisitions, including Zeke Capital Advisors, Cirrus Wealth Management, Affinia Financial Group, M Capital Advisors, AltruVista, Karpas Strategies, Family Asset Management, Eide Bailly Wealth, Carlson Capital Management, and The Martin Worley Group.
Benesch served as legal advisor to Sequoia Financial. Shustak, Reynolds & Partners P.C. served as legal advisor to Sterling Financial. DeVoe & Company, an investment bank and consulting firm, represented Sterling Financial in the transaction.
Next Article: MaxHSA Collabs with Avidia Health
MaxHSA Collabs with Avidia Health
MaxHSA, a gamified health savings account (HSA) engagement platform developed by Benegames, Inc., has announced a strategic partnership with Avidia Health, an HSA administrator, to make MaxHSA’s savings solution available to Avidia accountholders nationwide.
“We’re thrilled to partner with Avidia, one of the most respected names in HSA banking,” said Sanders McConnell, co-founder of MaxHSA. “Avidia’s commitment to empowering consumers aligns perfectly with MaxHSA’s mission to help people make the most of their health savings accounts. Together, we’re making it easier than ever for accountholders to contribute to and manage their HSAs in unique ways, several of which are a part of their everyday life.”
MaxHSA offers a reward-based program that incentivizes users to increase their HSA contributions. Members can make contributions through Roundups, Cashback Rewards, and Referral Rewards, all designed to fund their HSA. The platform also provides educational resources, personalized goal tracking, and expert guidance to make HSAs more approachable and beneficial.
“At Avidia, we’re always looking for new ways to bring value and innovation to our HSA owners,” said Mary Brown, VP and HSA Operations manager. “Partnering with MaxHSA allows us to offer a unique experience that helps accountholders better engage with their HSAs while maximizing their financial potential.”
By blending behavioral economics, gamification, and real-world incentives, MaxHSA aims to help Avidia HSA owners treat their account as both a healthcare and retirement investment tool.
Avidia’s HSA owners can learn more or sign up for MaxHSA by visiting maxhsa.com/avidiahealth. Individuals or organizations interested in partnering with MaxHSA can visit maxhsa.com for more information or to connect with the partnership team.