Hightower, a Chicago-based registered investment adviser, has taken a stake in Argent Wealth Management, a $1.7 billion RIA based in Waltham, Massachusetts. The deal is Hightower’s seventh transaction so far this year, following Tuesday's announcement that it had taken a stake in North Carolina-based Stearns Financial Group.
Founded in 1992, Argent has 22 employees, including 11 advisers. The transaction, the terms of which were not disclosed, is expected to close in the fourth quarter.
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.
