Nobel laureate at independent B-D? Markowitz joins Dallas firm

The father of modern portfolio theory plans to spend plenty of face time with advisers at 1st Global Capital
FEB 01, 2010
1st Global Capital Corp., an independent broker-dealer, has snagged star economist and Nobel laureate Harry Markowitz as an adviser for its investment management committee and a consultant to its investment management group. Mr. Markowitz, dubbed the father of modern portfolio theory, will have plenty of face time with advisers — especially at conferences and other industry events, said Tony Batman, chief executive of 1st Global. It is the first time Mr. Markowitz has worked with an independent broker-dealer, Mr. Batman said. A focus of Mr. Markowitz's work with advisers will be the role of alternative asset classes that can be illiquid or leveraged and how that meshes with modern portfolio theory in creating clients' portfolios, Mr. Batman said. Understanding the proper “risk/return framework” in a complex and risky investment environment will also be Mr. Markowtiz's focus, he said. 1st Global, based in Dallas, focuses on advisers affiliated with tax, accounting and law firms. 1st Global's Investment Management Solutions platform has $3.2 billion in assets under management.

Latest News

JPMorgan mulls new asset lending scheme aimed at crypto ETF investors
JPMorgan mulls new asset lending scheme aimed at crypto ETF investors

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.

Fintech bytes: Future Capital adds RayJay alum to C-suite, Advyzon welcomes ex-Envestnet leader
Fintech bytes: Future Capital adds RayJay alum to C-suite, Advyzon welcomes ex-Envestnet leader

The two wealth tech firms are bolstering their leadership as they take differing paths towards growth and improved advisor services.

UBS 'wrongfully' fired Idaho advisor in 2021: FINRA panel
UBS 'wrongfully' fired Idaho advisor in 2021: FINRA panel

“We think this happened because of Anderson’s age and that he was possibly leaving,” said the advisor’s attorney.

Cetera Trust hires Fidelity vet Kerri Scharr for chief fiduciary officer role
Cetera Trust hires Fidelity vet Kerri Scharr for chief fiduciary officer role

The newly appointed leader will be responsible for overseeing fiduciary governance, regulatory compliance, and risk management at Cetera's trust services company.

Trump's 'revenge tax' might come back to bite US borrowers, experts say
Trump's 'revenge tax' might come back to bite US borrowers, experts say

Certain foreign banking agreements could force borrowers to absorb Section 899's potential impact, putting some lending relationships at risk.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave

SPONSORED The evolution of private credit

From direct lending to asset-based finance to commercial real estate debt.