M&T Bank has rebranded its retail securities business as Wilmington Advisors @ M&T and is using LPL Financial as its broker-dealer. More than 180 financial advisers and about 750 additional personnel have had their securities licenses transferred.
“LPL’s sophisticated technology platform enables us to now offer an adviser-assisted digital service, an all-digital service and a wide range of other services for the emerging affluent consumer segment,” said Matt McAfee, senior vice president and head of affluent markets at the Buffalo, New York-based bank.
McAfee said the bank recently surveyed 500 consumers with more than $125,000 in household income and more than $100,000 in investible assets. These mass affluent consumers expect to ramp up spending on lifestyle upgrades previously on hold due to the pandemic, while increasing investments in retirement and college planning, he said.
M&T, which recently announced plans to acquire People’s United Bank, will have about 1,200 branches when the acquisition is completed.
"Im glad to see that from a regulatory perspective, we're going to get the ability to show we're responsible [...] we'll have a little bit more freedom to innovate," Farther co-founder Brad Genser told InvestmentNews.
Former advisor Isaiah Williams allegedly used the stolen funds from ex-Dolphins defensive safety Reshad Jones for numerous personal expenses, according to police and court records.
Taking a systematic approach to three key practice areas can help advisors gain confidence, get back time, and increase their opportunities.
Meanwhile, Osaic lures a high-net-worth advisor from Commonwealth in the Pacific Northwest.
The deals, which include its first stake in Ohio, push the national women-led firm up to $47 billion in assets.
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.
