Hancock Whitney, a Gulfport, Mississippi-based bank holding company, will move clients and the registered representatives in its retail securities business to Cetera Financial Group’s financial institutions business.
Under Cetera, the operations of Hancock Whitney Investment Services, a registered broker-dealer and an SEC-registered investment adviser, will transition to Cetera, operating under the name Hancock Whitney Financial Consultants. The bank’s existing broker-dealer will remain in place for corporate and municipal underwriting.
The bank said that the switch does not affect the company’s trust and asset management division, which manages $10 billion and administers $27 billion in assets, and ranks among the top 25 largest fiduciary firms in the country.
In releases from Cetera and Hancock Whitney, neither firm disclosed the size of the assets managed or advised by Hancock Whitney Investment Services. The transition is to become effective in the second half of the year, Hancock Whitney said.
A trustee says it has no record of the investor now suing it for $50 million
Legislation seeks to loosen access to private markets to include professional advice from RIAs and broker-dealers, not just income or net worth.
"I just feel like I can get a lot further [by] opening a 529 account," said one respondent to the BabyCenter survey on Trump accounts.
New ICI research shows these retirement savers pay expense ratios nearly matching industrywide averages, extending years of fee declines
UBS data show American net worth is shifting from property to cash and funds faster than in seven other wealthy nations.
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
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
