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Merrill Lynch team managing $1.25 billion goes indie
Amplius Wealth Advisors in Blue Bell, Pennsylvania, affiliates with Dynasty Financial Partners.
Fidelity talking to local officials about vaccine distribution
Local governments have begun reaching out to Fidelity to explore a potential role to assist with the logistics of distributing the vaccines, according to a spokesperson.
Pathstone acquires $1.1 billion RIA
New York-based Cornerstone Capital Group specializes in sustainable investing.
Wealthier clients saving in 401(k)s may fall into tax trap
Too much money in tax-deferred retirement accounts could undermine clients' financial plans if taxes rise in the future to pay for today’s exploding government spending.
AssetMark acquires Voyant in $145 million deal
The deal positions the turnkey asset manager to build its own financial wellness platform, similar to a strategy announced by TAMP powerhouse Envestnet last week.
It’s final: Morgan Stanley owns Eaton Vance
CEO James Gorman says the acquisition advances the wirehouse's 'transformation’ by adding fee-based business.
Beacon Pointe acquires $350 million RIA
The deal for Wealth Design adds to the firm's footprint in Silicon Valley.
T. Rowe Price opens investment office in Shanghai
The office in the free-trade zone will serve as a home base for analysts covering China.
Firm culture, and why it’s key
Check out what the firms that made the Best Places to Work list this year are doing to make employees happy.
PE investments are good for RIAs. What about clients?
The influx of PE money is a huge vote of confidence for the health and future of the RIA business model, but some industry observers have voiced concerns.
$1 billion Merrill Lynch team moves to Rockefeller
PBS Wealth Group is located in Newport Beach, California.
NFP, Natixis targeted in 401(k) lawsuits
At the heart of NFP case is the flexPath target-date series, which was added to Wood Group plan in 2016, when it was essentially brand new. Schlichter Bogard & Denton brought the case.
Focus Financial launches secondary offering
Employees and principals of its partner firms will receive the sale proceeds.
Finra offers additional licensing exams online amid Covid-19
Finra will not require the documentation normally needed to obtain a testing accommodation. That will allow candidates to opt for an online exam if they’re reluctant to go to a test center.
Envestnet boosts expenses to build new financial ecosystem
Envestnet plans to ramp up investments into a digital financial wellness ecosystem that connects multiple aspects of a user's financial journey.
LPL recruiting loans jump again in 2020
The largest independent broker-dealer reported forgivable loans to recruits of $419.2 million at the end of last year. Forgivable loans are one of the most common ways broker-dealers use to attract recruits.
Merrill Lynch ramps up wealth unit in Florida
As its wealthiest clients fly south, the wirehouse plans to double the number of teams catering to ultra-high-net-worth individuals in the Sunshine State over the next few years.
PE firm takes stake in Signet Financial
Merchant Investment Management will own a minority share of the $850 million New Jersey-based registered investment adviser.
SEC isn’t dropping the hammer yet in Reg BI exams
An SEC official indicated reviews are still meant more to help firms comply with Reg BI than to punish them for violations of the rule. But it's a good idea to document recommendations.
Use this philanthropic giving tool for impact investing
Donor advised funds can be used to support increasingly popular impact investing.
