LPL Financial has hired Bill Sappington as executive vice president of banking and lending solutions. He will lead the firm’s efforts to build a new banking and lending platform, the company said in a release.
Sappington most recently served as head of wealth management and private banking for City National Bank. Earlier, he was the head of private banking at BNY Mellon, where he introduced banking and lending capabilities to the independent advisers using Pershing Advisor Solutions and Pershing.
Before joining BNY Mellon, Sappington led the development of the Merrill Lynch Loan Management Account, which was the first fully integrated digital lending solution in the industry.
Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.
Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.
Asset managers are racing to bring private market products to retirement plans, but cost and liquidity concerns linger.
Treasury's latest tax-exemption crackdown on private schools lands in the wake of a separate push to restrict refundable credits for some immigrant filers.
Workforce trust measures predicted which companies came out ahead during COVID-19. The same dynamic may now be playing out across the AI transition — and the data suggests the spread could be just as wide.
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
