In honor of National Veterans and Military Families Month, BNY Mellon assembled eight veteran-owned broker-dealers to participate in an offering of $750 million in senior bank notes.
The eight firms — Academy Securities, AmeriVet Securities, Bancroft Capital, CAVU Securities, Drexel Hamilton, Mischler Financial Group Inc., Multi-Bank Securities Inc., and Roberts & Ryan — underwrote a combined 20% of the notes.
“These eight veteran-owned firms understand mission and execution, making them a natural fit to help serve the diverse marketplace in which we operate,” Sarah McAvoy, group treasurer at BNY Mellon, said in a statement.
In the second quarter of 2022, minority-owned financial institutions were among the joint lead bookrunners on a $1.7 billion offering of senior medium-term notes by Bank of New York Mellon Corp., the company said in the statement.
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL
According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.
Insiders allegedly rewrote projections three times in four days.
TCI Wealth Advisors also has also tapped JIFFYAI to unify onboarding and servicing, while TradePMR adds ICE market data to its Fusion advisor platform
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
