Janus Henderson Group (NYSE:JHG) is making a major play for the fast-growing model portfolio market, announcing Friday its acquisition of Richard Bernstein Advisors (RBA), a New York-based firm overseeing approximately $20 billion in assets.
The deal is a significant strategic pivot for Janus Henderson, positioning the firm as a top 10 provider of model portfolios in North America.
These portfolios—standardized investment strategies used by financial advisors to manage client money—have become one of the most competitive and lucrative corners of the asset management industry.
Founded in 2009 by its namesake, Richard Bernstein, RBA has built a reputation for a disciplined, macro-driven investment approach.
Bernstein, a Wall Street veteran with over 40 years of experience, previously served as the Chief Investment Strategist at Merrill Lynch & Co.
Under the terms of the agreement, Bernstein will join Janus Henderson as Global Head of Macro & Customized Investing.
He has signed a multi-year agreement to lead the integration and drive the next phase of RBA’s growth within the larger organization.