Lexington Wealth Management, a registered investment advisory firm that manages $1.3 billion in Lexington, Massachusetts, has acquired Marcus Financial Advisors, a Beverly, Massachusetts-based affiliate of Raymond James that has $200 million in assets under administration.
[More: RIA M&A starts 2021 with a bang]
The acquisition was facilitated by the mergers and acquisition team at Hightower, which owns an interest in Lexington.
Jon Marcus of Marcus Financial will join Lexington as a senior wealth adviser. In the wake of the acquisition, Lexington has 13 advisers, and 20 employees overall.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
New Treasury and IRS proposals would let employers add tax-free payroll contributions to the retirement accounts as advisors weigh the fit for client families.
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
