The fund's exposure to First Brands is about 1.4% of its $1.9 billion total assets, according to company filings.

After acquiring Parrot AI earlier this year, Advisor360 is expanding its capabilities to read, summarize, and interpret client data from CRMs and documents.

With M&A deals poised to exceed 300 this year, sub-acquisitions now account for nearly one-third of all RIA transactions thanks to a "maturing" ecosystem.

The brokerage giant added over one million new brokerage accounts for the fourth straight quarter, while total client assets reached a record $11.59 trillion.