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.
Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.
The Harford, Connecticut-based RIA is expanding into a new market in the mid-Atlantic region while crossing another billion-dollar milestone.
The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.
Chief economists, advisors, and chief investment officers share their reactions to the June US employment report.
"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.
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.
