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.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
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
