AK Financial Group, an Irvine, California-based firm managing $1 billion, has joined Private Advisor Group, a Morristown, New Jersey-based firm managing $33 billion that's a large office of supervisory jurisdiction for LPL Financial.
AK Financial Group’s own registered investment adviser will be folded into that of the Private Advisor Group. AK’s 25 advisers and staff already are affiliated with LPL.
"Winding down my RIA operations allows me to spend more time doing what I love most: spending time with clients and mentoring financial advisors,” said Andrew Karlinski, who heads AK Financial.
Karlinski, who has 45 years of experience, will also serve as managing director of the West region for Private Advisor Group.
It's the mega-RIA firm's third $1B+ acquisition in just three months.
Wall Street leaders propose ways to monetize the mortgage giants.
Changes in legislation or additional laws historically have created opportunities for the alternative investment marketplace to expand.
A Texas-based bank selects Raymond James for a $605 million program, while an OSJ with Osaic lures a storied institution in Ohio from LPL.
The Treasury Secretary's suggestion that Trump Savings Accounts could be used as a "backdoor" drew sharp criticisms from AARP and Democratic lawmakers.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
