Christopher Cervantes, who managed $564 million at Merrill Lynch, has formed Valorous Advisors in Plano, Texas, and affiliated with Sanctuary Wealth. He will use Bank of New York Mellon Pershing as the firm’s custodian.
Cervantes had been affiliated with Merrill Lynch for 22 years, according to his BrokerCheck report.
Cervantes and his team, which includes wealth planner Tracey A. Gledhill and relationship manager Larry Jackson, specialize in retirement plan consulting.
"Corporate interference has become more and more disruptive over recent years," Cervantes said in a statement. "It became clear to me that we could offer our clients a better experience as an independent firm free from those distractions."
A Texas-based bank selects Raymond James for a $605 million program, while an OSJ with Osaic lures a storied institution in Ohio from LPL.
The Treasury Secretary's suggestion that Trump Savings Accounts could be used as a "backdoor" drew sharp criticisms from AARP and Democratic lawmakers.
Changes in legislation or additional laws historically have created opportunities for the alternative investment marketplace to expand.
Wealth managers highlight strategies for clients trying to retire before 65 without running out of money.
Shares of the online brokerage jumped as it reported a surge in trading, counting crypto transactions, though analysts remained largely unmoved.
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.
