Azimut Group, a global investment manager based in Milan, Italy, has made what it calls a significant investment in the Sanctuary Wealth Group, an Indianapolis-based wealth management firm.
Sanctuary, which operates broker-dealer, registered investment advisory and investment management arms, has 41 partner firms across 17 states that advise on more than $12 billion in assets. Azimut manages the equivalent of $67 billion.
With backing from Azimut, “we are poised to assert ourselves as willing buyers of valuable advisory practices, for Sanctuary and on behalf of our elite advisor network,” Jim Dickson, Sanctuary Wealth’s CEO, said in a release.
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.
