David Crossan and John Stephens Jr. , who collectively managed $305 million at Wells Fargo Advisors, have teamed up and gone independent through affiliation with LPL Financial.
In launching Shoreline Wealth Management, which has offices in the New Jersey shore communities of Manahawkin and Manchester, the two used LPL’s model designed for breakaway brokers.
Crossan, who is based in Manchester, had been with Wells Fargo since 2006. Stephens, who is based in Manahawkin, joined Wells Fargo in 2011.
A staff member, Brittany Forte, joined Crossan and Stephens in the move.
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
