There’s change afoot at employee-owned independent Mesirow as the financial services company names a new leader. Mesirow announced that it has promoted Brian D. Price to CEO of its wealth management division.
Price is being elevated to the role after more than a year serving as interim head of wealth management. Since November 2022, he’s steered the business through significant organic and inorganic growth, which include a number of strategic acquisitions and key personnel additions.
“Over the past year, under Brian’s leadership, our offering to clients has expanded through new capabilities and the acquisition of Front Barnett,” Mesirow CEO Natalie Brown said in a statement.
That deal, announced in September, saw more than $1 billion in assets come in through Mesirow’s door as it welcomed the Chicago-based ultra-high-net-worth practice led by Marshall B. Front, Mickey MacMillan and Peter Wahlstrom.
Shortly after that came the news that Mesirow’s corporate retirement plan team, which oversees around $13 billion in assets under advisement and management across more than 350 retirement plans, was being acquired by Creative Planning.
With his appointment to the chief executive position, Price is set to further the growth of the firm's private wealth business – which has more than $10 billion in assets under management and administration as of December 31 – as he oversees its strategy, expansion, and positioning in the market.
Over the course of his nearly two-decade history with Mesirow, starting in 2006, Price has held a number of leadership positions at the firm including president and chief operating officer of investment banking, and head of advisory services.
“I am honored to assume this new role and build on our rich history of serving clients across generations,” Price said.
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.
