Two advisors who oversaw $175 million in assets at Wells Fargo Advisors have joined LPL’s employee advisor channel, Linsco by LPL Financial, the firm announced Wednesday.
Jonathan Maloney and Niki Davis are launching Maloney Davis Wealth Management in Cedar Rapids, Iowa. Maloney has 19 years of experience, according to his BrokerCheck report, while Davis has 10 years.
Their practice focuses on planning.
“It can often be difficult to manage money for clients or make recommendations without first understanding when and how they are planning to spend the money,” Maloney said in a statement. “That’s why we take a proactive approach. We created a business that is entirely centered around financial planning.”
Maloney and Davis made the move to gain more control over their business.
“We wanted the opportunity to keep things as consistent as possible, yet with improved experiences for our clients,” Davis said. “With Linsco, we can focus on taking care of our clients and their families with less restrictions, while growing our business our way. We’re confident this move will allow us to strengthen the relationships with our clients for generations to come.”
While industry statistics pointing to a succession crisis can cause alarm, advisor-owners should be free to consider a middle path between staying solo and catching the surging wave of M&A.
New joint research by T. Rowe Price, MIT, and Stanford University finds more diverse asset allocations among older participants.
With its asset pipeline bursting past $13 billion, Farther is looking to build more momentum with three new managing directors.
A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.
"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.
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.
