Harry Sherdil and associate adviser Nestor Belmonte, who managed $250 million at Wells Fargo Advisors in Fremont, California, have gone independent via LPL Financial and set up Humanity Wealth Advisors in Newark, California.
Humanity affiliated through The Financial Services Network, an LPL office of supervisory jurisdiction, and will use its Strategic Wealth Advisors Group registered investment adviser.
Sherdil, who emigrated to this country from India in 1990, says his goal is to help 100 young men and women from all nationalities join the financial services industry.
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
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.
