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.
A new proposal could end the ban on promoting client reviews in states like California and Connecticut, giving state-registered advisors a level playing field with their SEC-registered peers.
Morningstar research data show improved retirement trajectories for self-directors and allocators placed in managed accounts.
Some in the industry say that more UBS financial advisors this year will be heading for the exits.
The Wall Street giant has blasted data middlemen as digital freeloaders, but tech firms and consumer advocates are pushing back.
Research reveals a 4% year-on-year increase in expenses that one in five Americans, including one-quarter of Gen Xers, say they have not planned for.
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.
