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.
A drop in interest rates and easier access to capital has reignited appetite among private equity-backed consolidators, who accounted for 53% of RIA deals so far this year- their highest share since 2021 according to DeVoe & Company.
Also, Advisor CRM announces a new data integration partnership to ease the pain of client onboarding.
Meanwhile, Merrill Lynch intends to continue building its alternative investment platform for wealthy clients.
The co-founder of IFG discussed with InvestmentNews the unique opportunity that remaining independent offers to build a successful firm.
Three industry leaders will join the hybrid RIA's president and LPL alum, Andy Kalbaugh, to help guide its organic and merger-based growth strategy.
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.
