John Peluso, who spent 35 years at Wells Fargo and its predecessor firms before retiring in September, has joined an Indiana-based hybrid advisory firm, Thurston Springer Financial, as executive vice president and partner.
Peluso had headed Wells Fargo’s clearing operations, First Clearing, since 2012, and earlier presided over its independent broker-dealer, Wells Fargo Financial Advisors Network, known as FiNet.
“After helping hundreds of financial advisors over the past 25 years become independent business owners, it’s been a long-standing dream to sit on the other side of the table,” Peluso said in a statement. “The opportunity to join Thurston Springer came at a perfect time.”
According to the statement, Peluso will focus on promoting the firm’s brand and growth through recruiting, RIA mergers and acquisitions, and minority investments.
“We’re extremely fortunate to have an industry veteran and thought leader like John Peluso join our firm,” Rick Parker, CEO of Thurston Springer, said in the statement. “We believe with John’s knowledge and reputation, along with our national footprint and nimble wealth management platform, we’re making Thurston Springer a destination for sophisticated advisors and their clients.”
The move to charge data aggregators fees totaling hundreds of millions of dollars threatens to upend business models across the industry.
The latest snapshot report reveals large firms overwhelmingly account for branches and registrants as trend of net exits from FINRA continues.
Siding with the primary contact in a marriage might make sense at first, but having both parties' interests at heart could open a better way forward.
With more than $13 billion in assets, American Portfolios Advisors closed last October.
Robert D. Kendall brings decades of experience, including roles at DWS Americas and a former investment unit within Morgan Stanley, as he steps into a global leadership position.
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.
