Equitable Advisors, a national wealth management business that includes thousands of financial professionals, is welcoming a California-based advisor back into its platform. The firm announced that Michael Shieh, who most recently managed $181 million in client assets at Cetera Investment Advisors, is returning to its network.
Based in Woodland Hills, Shieh’s practice – which is focused on the Mandarin-speaking community – provides financial planning for professionals, families, and retirees.
He started his career in the financial industry in 2014 with Equitable Advisors, which at the time was still operating as Axa Advisors.
"Since I first joined a decade ago, Equitable Advisors has undergone many great changes as it continues to establish itself as a leader in the wealth management space,” Shieh said, applauding the firm’s model of “supported independence.”
By making the move back to Equitable, Shieh will have the support to build and grow his own team while still being free to run his own business, according to the firm.
As of December 31, Equitable Advisors had $87 billion in reported AUM across 4,400 financial professionals nationwide.
“We welcome Michael to Equitable Advisors and look forward to helping him take his practice to the next level,” said John Lefferts, head of business development at Equitable Advisors.
In October, Equitable Advisors scooped up another advisory practice from Cetera as it welcomed a mother-son team in Marlton, New Jersey.
Most firms place a limit on advisors’ sales of alternative investments to clients in the neighborhood of 10% a customer’s net worth.
Those jumping ship include women advisors and breakaways.
Firms in New York and Arizona are the latest additions to the mega-RIA.
The agent, Todd Bernstein, 67, has been charged with four counts of insurance fraud linked to allegedly switching clients from one set of annuities to another.
“While harm certainly occurred, it was not the cataclysmic harm that can justify a nearly half billion-dollar award to the State,” Justice Peter Moulton wrote, while Trump will face limits in his ability to do business in New York.
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.
