Private Advisor Group, a Morristown, New Jersey-based hybrid and office of supervisory jurisdiction managing $29 billion, has introduced a multicustodial investment management platform for its more than 750 advisers.
The platform, known as WealthSuite, uses technology from Orion Advisor Solutions to handle account opening, management and servicing. It was designed to free up adviser time, Frank Smith, the president of Private Advisor Group, said in a release.
The platform offers bespoke mutual fund, exchange-traded fund, and blended mutual fund/ETF model portfolios, along with custom indexing and tax-optimized solutions delivered through separately managed accounts. BlackRock, Fidelity Institutional Wealth Advisor, Orion Advisor Solutions and WisdomTree are the platform’s investment strategists.
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
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.
