Weekender

Commercial real estate finance executives grew sharply more cautious in the third quarter, with the CRE Finance Council’s sentiment index falling to its lowest level in three years as concerns about borrowing costs spread across the industry. The Board of Governors Sentiment Index declined 17.5% to 83.3 from 101.0 in the second quarter, CREFC said.

AT&T affiliates have agreed to form a U.S. fiber joint venture with affiliates of Global Infrastructure Partners and CPP Investments, bringing together two network platforms to accelerate broadband construction beyond AT&T’s traditional service areas. AT&T will own 50% of the venture, while GIP, part of BlackRock, and CPP Investments will collectively own the remaining half.  

XYPN, a platform for fee-only financial planners, has teamed up with Income Lab to make Income Lab’s capabilities available to its customers as a member benefit option.  Income Lab provides support to advisors to address a broad range of planning challenges, including retirement income projections, tax-aware withdrawal strategies, Roth conversion planning, Social Security optimization, Medicare

Waverly Advisors has purchased a Virginia-based wealth management firm, bolstering the firm’s footprint in the state.  Richmond, VA-based Heartwood Wealth Advisors, founded in 2013, oversees about $1.7 billion in assets under management and is led by advisors Steve Clarke, Sid Martin, Ben Gurley, and Wes Kaufman.  The team is supported by nine other back-office team