In its fifth acquisition of the year, MAI Capital Management, a Cleveland-based registered investment adviser managing $11.8 billion, has bought Storey & Associates, a North Canton, Ohio-based RIA managing $230 million.
Harlan Storey, who founded the firm in 1985, and principal Kevin Krakora have become senior wealth advisers at MAI. The firm’s other employees also joined MAI.
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Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.
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Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.
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.
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