A team of three advisers — Steven Bailin, Jodie Cohen and Jeffrey Prince — managing $700 million at Morgan Stanley in Los Angeles have formed PBC Private Wealth and gone independent, affiliating with LPL Financial.
The new firm is using the services of LPL’s strategic wealth services team, which supports the needs of breakaway advisers.
Bailin, who started his career in 1987 at Bateman Eichler, had been with Morgan Stanley and predecessor firms for 30 years. Cohen worked at those two firms over the same time period. Prince, also an industry veteran, was with Morgan Stanley for 23 years.
The "Crypto Mom" departure would leave the SEC commission with just two members and no Democratic commissioners on the panel.
IFP Securities’ owner, Bill Hamm, has a long-term plan for the firm and its 279 financial advisors.
Meanwhile, a Osaic and Envestnet ink a new adaptive wealthtech partnership to better support the firm's 10,000-plus advisors, and RIA-focused VastAdvisor unveils native integrations with leading CRMs.
A former Alabama investment advisor and ex-Kestra rep has been permanently barred and penalized after clients he promised to protect got caught in a $2.6 million fraud.
As more active strategies get packaged into the ETF wrapper, advisors and investors have to look beyond expense ratios as the benchmark for value.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
