Steward Partners Global Advisory, a Washington, D.C.-based hybrid managing $9.8 billion, has signed on as the first client of a new business at Goldman Sachs providing clearing, custody and other support services to registered investment advisers.
Steward will onboard assets it acquired through its recent acquisition of Umpqua Investments, with the move starting later this year, the firm said in a release.
Steward Partners recently created a broker-dealer offering multi-custodial relationships, saying those would provide advisers with greater choice and enhance the firm's ability to attract advisers.
By listening for what truly matters and where clients want to make a difference, advisors can avoid politics and help build more personal strategies.
JPMorgan and RBC have also welcomed ex-UBS advisors in Texas, while Steward Partners and SpirePoint make new additions in the Sun Belt.
Counsel representing Lisa Cook argued the president's pattern of publicly blasting the Fed calls the foundation for her firing into question.
The two firms violated the Advisers Act and Reg BI by making misleading statements and failing to disclose conflicts to retail and retirement plan investors, according to the regulator.
Elsewhere, two breakaway teams from Morgan Stanley and Merrill unite to form a $2 billion RIA, while a Texas-based independent merges with a Bay Area advisory practice.
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.
