AK Financial Group, an Irvine, California-based firm managing $1 billion, has joined Private Advisor Group, a Morristown, New Jersey-based firm managing $33 billion that's a large office of supervisory jurisdiction for LPL Financial.
AK Financial Group’s own registered investment adviser will be folded into that of the Private Advisor Group. AK’s 25 advisers and staff already are affiliated with LPL.
"Winding down my RIA operations allows me to spend more time doing what I love most: spending time with clients and mentoring financial advisors,” said Andrew Karlinski, who heads AK Financial.
Karlinski, who has 45 years of experience, will also serve as managing director of the West region for Private Advisor Group.
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
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.
