A jury in Houston this month awarded more than $12 million to the families of three people killed in a plane crash in 2019 whose pilot, Jeffrey Weiss, was a financial adviser at Raymond James & Associates Inc., according to published reports.
Weiss and five passengers were killed in April 2019 when the plane they were in crashed in southern Texas. The plane went down in Kerrville, some 70 miles northwest of San Antonio, during an attempted landing, according to news reports at the time.
Weiss worked at Raymond James & Associates Inc. in Houston. A 43-year industry veteran, he had worked at Raymond James since 2012.
A spokesperson for Raymond James said Friday the company had no comment.
The families filed the wrongful death lawsuit in 2019 and the suit was decided Dec. 6, according to published reports.
According to a report in the Houston Chronicle, In the three years since the lawsuit's filing, it was determined that Weiss, an experienced pilot with 5,000 flight hours, miscalculated the fuel needed to fly from Katy to the Kerrville area airport, the paper reported, citing attorney Richard Mithoff.
As more active strategies get packaged into the ETF wrapper, advisors and investors have to look beyond expense ratios as the benchmark for value.
Survey finds AI widely embedded in research and analysis, but barely touching portfolio construction or trade execution.
Two firms land teams managing more than $1.1 billion in combined assets from Kestra and Edward Jones.
A private partnership, Edward Jones is a giant in the retail brokerage industry with more than 20,000 financial advisors.
Meanwhile, Raymond James and Tritonpoint Partners separately welcomed father-son teams, including a breakaway from UBS in Missouri.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management