Raymond James, Stifel pick up wirehouse advisers

KMS snags National Planning Corp. team, while Kestra adds retirement specialist team from Cadaret Grant
DEC 11, 2017

Morgan Stanley loses $145 million rep to Raymond James in ChicagoWells Fargo loses $250 million team to StifelStifel Financial has recruited a three-broker team managing $250 million from Wells Fargo Advisors. The three brokers — Keith Holzwarth, Angelo Panoff and Michael Hall — will operate a new Stifel office in Flint, Mich. Mr. Holzwarth will serve as branch manager of the new office, and Mr. Panoff will serve as assistant branch manager. KMS pick up $330 million team from National Planning Corp.Hansen Wealth Management, a hybrid wealth management firm managing $330 million in San Jose, Calif., has switched affiliations from National Planning Corp. to KMS Financial Services, a subsidiary of Ladenburg Thalmann Financial Services. National Planning Corp. is part of National Planning Holdings, which was acquired in August by LPL Financial. MidAtlantic goes to Kestra from Cadaret GrantMidAtlantic Retirement Planning Specialists, a 401(k) plan specialist based in Wilmington, Del., has moved to Kestra Financial from Cadaret Grant. MidAtlantic has satellite offices in Syracuse, N.Y., Red Bank, N.J., Cranbury N.J., Bel Air, Md., and Reading, Penn.

Latest News

Retirement plan defaults leave key participant decisions unresolved
Retirement plan defaults leave key participant decisions unresolved

New Allspring research finds 401(k) participants want guidance on income and rollovers, not just portfolio automation.

Global equity release market set to triple, with US leading growth
Global equity release market set to triple, with US leading growth

Aging homeowners hold record housing wealth - but most advisors still aren't bringing it into retirement plans

Retiree alleges advisor withheld $600K through real estate LLC web
Retiree alleges advisor withheld $600K through real estate LLC web

$1.7M invested from an inheritance. Then the phone went dead.

SEC accuses Linqto chiefs of 'Wizard of Oz' investor deception
SEC accuses Linqto chiefs of 'Wizard of Oz' investor deception

The pre-IPO platform sold $430M in units while allegedly rigging prices behind the scenes.

GLP-1 users are trading retirement savings for their prescriptions
GLP-1 users are trading retirement savings for their prescriptions

A Nationwide survey finds 47% of GLP-1 users have never discussed the drugs’ financial impact with an advisor, even as many dip into savings.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

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