Most firms place a limit on advisors’ sales of alternative investments to clients in the neighborhood of 10% a customer’s net worth.
Those jumping ship include women advisors and breakaways.
Firms in New York and Arizona are the latest additions to the mega-RIA.
The agent, Todd Bernstein, 67, has been charged with four counts of insurance fraud linked to allegedly switching clients from one set of annuities to another.
“While harm certainly occurred, it was not the cataclysmic harm that can justify a nearly half billion-dollar award to the State,” Justice Peter Moulton wrote, while Trump will face limits in his ability to do business in New York.
SEC alleges Stock Purse Trading and Carole Liston violated federal securities laws by promising high returns and misusing $5.7 million from investors.
Sieg, 58, was head of Merrill Wealth Management, left in 2023 and returned that September to Citigroup, where he worked before being hired by Merrill Lynch in 2009.
Technology can do a lot of things, but advisors still have undeniable value
Two longtime RIA industry figures have joined the board of directors at TaxStatus, a fintech company that garners thousands of IRS data points on clients to share with advisors for improved financial planning oversight and time savings.
Morningstar's analysis found that the WISH Act would have a positive impact on reducing the shortfall of funds retirees will experience, with the largest impact on single men and women.
RIA firms announce deals to expand their growing footprints.
Firms announce new recruits including wirehouse breakaways.
"QuantumRisk, by design, recognizes that these so-called "impossible" events actually happen, and it accounts for them in a way that advisors can see and plan for," Dr. Ron Piccinini told InvestmentNews.
Advisors who invest time and energy on vital projects for their practice could still be missing growth opportunities – unless they get serious about client-facing activities.
The policy research institution calculates thousands in tax cuts for Washington, Wyoming, and Massachusetts residents on average, with milder reductions for those dwelling in wealth hotspots.
Yieldstreet real estate funds turned out to be far riskier than some clients believed them to be, according to CNBC.
The race to 100 transactions ended a month early this year, with April standing out as the most active month on record for RIA dealmaking.
Wells Fargo has also added more than $800 million in new AUM with recruitments from UBS, Osaic, and Merrill Lynch.
Also, Merit has added an $860 million RIA to bolster its Texas presence while Concurrent's asset management arm partners with a boutique investment shop.
Wells Fargo, Commonwealth, UBS are the firms losing advisor teams.
