Eight representatives who managed $300 million at Waddell & Reed have affiliated with the independent unit of Raymond James through Beyond Wealth Advisors, an affiliate based in Manhattan, Kansas.
Advisers Ross McDonald, Anthony Gorman, Ryan Hayden, Diane Freeby, Mathew Bishop, Devin Schwartz, Dillon Kohman and Kurt Haberer have made the move, along with client service associates Gwenda Bishop, Lisa Dziedzic and Lorie Grogg.
LPL announced late last year that it was buying Waddell & Reed's wealth management business and would offer stay bonuses to the unit's more than 900 advisers.
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.
