Business StrategyThe acquisition of Stifel Independent Advisors is seen as evidence of management's commitment to shifting Equitable's business mix to more capital lite businesses, such as Investment Management and Wealth Management.
Stock BuybackManagement expects to deploy $500 million of incremental buyback beginning in Q3, indicating confidence in the value of the company's stock.
Wealth ManagementIf all the $9 billion in Stifel client assets transfer to Equitable, there would be an approximate 8% uplift to Wealth Management AUA.