GenXFinancial, the Nashville, Tennessee-based parent of super office of supervisory jurisdiction Innovative Financial Group, will acquire Boston Partners Financial Group, another large office of supervisory jurisdiction that's affiliated with Royal Alliance Associates. Each OSJ manages about $4.5 billion in client assets.
Upon completion of the transaction, the terms of which were not disclosed, GenX will supervise 180 independent representatives and become the largest super-OSJ affiliated with Royal Alliance, an Advisor Group subsidiary.
Mark Marroni, who has led Boston Partners for more than 20 years, will continue to lead his own ensemble practice affiliated with GenXFinancial following the close of the transaction, and will operate under the Boston Partners Financial Group brand.
The move to charge data aggregators fees totaling hundreds of millions of dollars threatens to upend business models across the industry.
The latest snapshot report reveals large firms overwhelmingly account for branches and registrants as trend of net exits from FINRA continues.
Siding with the primary contact in a marriage might make sense at first, but having both parties' interests at heart could open a better way forward.
With more than $13 billion in assets, American Portfolios Advisors closed last October.
Robert D. Kendall brings decades of experience, including roles at DWS Americas and a former investment unit within Morgan Stanley, as he steps into a global leadership position.
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.
