Hendrix Group Financial Services, a hybrid firm managing $180 million in Birmingham, Alabama, has affiliated with LPL Financial’s broker-dealer and will use the firm as its custodian.
Hendrix had been affiliated with Securities Service Network, part of Advisor Group.
The firm was known for 50 years as the Financial Service Center of Alabama, but rebranded itself in 2017.
The team consists of brothers Tim and Brad Hendrix Sr., and Brad's son, Brad Hendrix Jr. The three are partners and financial advisers.
Brad Hendrix Sr. is a former NFL lineman who played in Dallas and San Diego.
Other members of the team include office manager Lindsey Burns, who is the daughter of Brad Hendrix Sr., and administrative assistant Sandra Bailey, who is the sister of Tim and Brad Hendrix Sr.
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.
