Sanctuary Wealth, an Indianapolis-based aggregator with $25 billion in assets, said a Merrill Lynch team managing $1 billion in client assets has joined the firm.
Chicago-based Burnham Harbor Private Wealth includes managing partners James Corrigan, David Holtkamp, Sean Jucas and Kenneth Shay, as well as staffers Basel Alwawi and Cindy Hehr.
"As independent advisors, we can truly focus on what's important to our clients," Shay said in a statement. "Sanctuary will allow us to be more creative in how we acquire clients or books of business, as well as how we staff our office and plan for internal succession.”
Corrigan has 17 years of experience, according to his BrokerCheck report, and had been affiliated with Merrill Lynch since 2009. Holtcamp joined Merrill in 2006 and Jucas had been affiliated with Merrill since 2007. Kenneth Shay has 50 years of experience, according to BrokerCheck, and had been affiliated with Merrill since 2007.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
