The Pritzker Organization has made a $100 million minority investment in Steward Partners Global Advisory, a Washington, D.C.-based hybrid managing $23 billion with 170 advisers. The firm has 27 offices across the country.
The investment, the first in the wealth management industry for the Pritzker family’s merchant bank, comes with two seats on Steward’s board. Pritzker businesses include Hyatt Hotels, Triton Container and the Marmon Group.
The Cynosure Group, a Salt Lake City-based private equity firm, made a $50 million investment in Steward in March 2019 and will remain fully invested.
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.
