Lexington Wealth Management, a registered investment advisory firm that manages $1.3 billion in Lexington, Massachusetts, has acquired Marcus Financial Advisors, a Beverly, Massachusetts-based affiliate of Raymond James that has $200 million in assets under administration.
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The acquisition was facilitated by the mergers and acquisition team at Hightower, which owns an interest in Lexington.
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Jon Marcus of Marcus Financial will join Lexington as a senior wealth adviser. In the wake of the acquisition, Lexington has 13 advisers, and 20 employees overall.
Quarterly analysis of retirement accounts highlights positive behavior.
Insiders say the Wall Street giant is looking to let clients count certain crypto holdings as collateral or, in some cases, assets in their overall net worth.
The two wealth tech firms are bolstering their leadership as they take differing paths towards growth and improved advisor services.
“We think this happened because of Anderson’s age and that he was possibly leaving,” said the advisor’s attorney.
The newly appointed leader will be responsible for overseeing fiduciary governance, regulatory compliance, and risk management at Cetera's trust services company.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
