Jay Murphy, who managed $325 million at the Alex. Brown division of Raymond James, has joined the Boston office of B. Riley Wealth as a senior managing director of investments.
B. Riley Wealth is a subsidiary of B. Riley Financial (RILY).
Murphy has extensive experience writing investment policies and in advising, constructing, and monitoring multi-manager portfolios for wealthy families, fiduciaries, retirement plans, and foundations, B. Riley said in a press release Monday. In addition to investment advisory and management, Murphy works with private institutional clients on private equity and real estate investment solutions.
Murphy's addition coincides with the branch's recent relocation to Boston's financial district.
Murphy had been with Alex. Brown for 11 years. He started his career in 1979 at Merrill Lynch and has spent time at several large firms including Bear Stearns, Donaldson Lufkin Jenrette and Credit Suisse.
Federal prosecutors say the scheme used fake investment accounts and a fictitious financial advisor to lure victims into romance-fueled fraud.
Morgan Stanley sought to claw back recruiting bonus money from Darryl Cohen.
Referrals from centers of influence may open the door, but the real key to success for advisors comes from clarity about their ideal clients and where they want to show up.
Three advisor groups overseeing more than $700M in combined client assets head to new firms.
New research finds most Americans fear a US retirement crisis, while skepticism grows toward AI financial advice and crypto in retirement plans.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
