Walnut Beech Advisors, an office of supervisory jurisdiction whose advisers manage $550 million, has joined LPL Financial from Royal Alliance, part of Advisor Group.
The team of 20, led by OSJ manager Tim Maurer and Rick Bentancourt, has been moving to LPL since last fall, with its final adviser joining this month, LPL said in a release.
The new firm name, Walnut Beech Advisors, represents the streets where its offices are located in Rochester, Michigan, and Long Beach, New York.
The two firms violated the Advisers Act and Reg BI by making misleading statements and failing to disclose conflicts to retail and retirement plan investors, according to the regulator.
Elsewhere, two breakaway teams from Morgan Stanley and Merrill unite to form a $2 billion RIA, while a Texas-based independent merges with a Bay Area advisory practice.
Analysis of four-year data shows average account balances nearly doubling among steady savers, with younger workers seeing the largest percentage growth.
Survey research shows just over half of Gen Xers satisfied with advice as retirement and economic anxieties take a toll.
Two reports reveal investor behavior including earlier participation of young Americans.
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.
