The team of James Wendling, Steven VanDerSchaaf and Clint Allaman, who managed $315 million at Morgan Stanley in Davenport, Iowa, have moved to the employee unit of Raymond James.
Wendling spent more than 30 years with Morgan Stanley and predecessor firms. VanDerSchaaf began his career in 1993 working for several firms companies in Chicago before joining a Morgan Stanley predecessor in 2001. Allaman was affiliated with Morgan Stanley since 2012.
Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.
Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.
Asset managers are racing to bring private market products to retirement plans, but cost and liquidity concerns linger.
Treasury's latest tax-exemption crackdown on private schools lands in the wake of a separate push to restrict refundable credits for some immigrant filers.
Workforce trust measures predicted which companies came out ahead during COVID-19. The same dynamic may now be playing out across the AI transition — and the data suggests the spread could be just as wide.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
