Magellan is selling its stake in Mexican chain Guzman y Gomez to focus on funds management. But its stake in investment bank Barrenjoey is going nowhere.
Magellan says its future is about pure funds management. In the meantime, the battered investment group is doing everything it can to win back investors and employees.
After a week of turmoil for the fund management group, the market has one question - is Douglass, who has grown this business faster than anyone predicted, still the best man for the job?
Drive Wealth Advisers, a fee-only, SEC registered investment advisory firm with over $800 million in assets under management announces the acquisition and merger of
Magellan Capital LLC.
Lowell Crabb, CFP®, Principal
, Drive Wealth Advisors, stated, At Drive Wealth, we believe the bedrock of a prestigious wealth advisory firm is laid in its people s undying commitment and desire to better the lives of the families they serve. Our decision to acquire and align with Magellan Capital was entirely motivated by our eagerness to bolster the team with individuals who possess this same commitment and desire. I m honored to link arms with them as we continue to build Utah s preeminent independent firm.