Merchant Stakes $2.5B Los Angeles RIA

Published on February 24, 2026

Merchant made a minority investment in IFC Advisors, the Los Angeles-based RIA where Jim Hays, former Wells Fargo Advisors CEO, landed last year.

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I talk a lot about cash. Broken record, I know.But here’s the thing… most people spend all their energy thinking about what’s happening in their portfolio. Which stocks to own. What the Fed is doing. Whether to buy the dip.Meanwhile, their cash is sitting in a checking account earning next to nothing. Or worse, it’s scattered across three different banks with no real plan behind it.Cash isn’t just