Park Avenue Capital Planning and Strongpoint Wealth Advisors, two New York-based wealth managers affiliated with Northwestern Mutual, are merging to create Park Avenue Capital, which will manage more than $1 billion in assets.
Ben Feldman, president of Park Avenue Capital Planning, and Peter Tiboris, president of Strongpoint, will continue to manage the combined firm.
"Together, through Park Avenue Capital, Peter and Ben are combining two of the more successful practices in our industry into a firm with exceptional capabilities and the capacity to accelerate the impact they are creating for clients," Loren Morris, vice president of adviser practices at Northwestern Mutual, said in a statement.
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL
According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.
Insiders allegedly rewrote projections three times in four days.
TCI Wealth Advisors also has also tapped JIFFYAI to unify onboarding and servicing, while TradePMR adds ICE market data to its Fusion advisor platform
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