Wells Fargo loses $450 million hybrid to LPL

Wells Fargo loses $450 million hybrid to LPL
New York-based Rockline Wealth Management will use B-D and RIA platforms.
JUN 28, 2018

Rockline Wealth Management, a hybrid firm that managed $415 million when its principals were affiliated with Wells Fargo Advisors, has affiliated with LPL and will use the firm's corporate registered investment advisor platform. Rockline, which is based in Plainview, N.Y., is led by Mark Rose, Robert Krivit and Gabriel Gallante, and includes two support staff members. Mr. Rose and Mr. Krivit are veteran advisers, having worked at several large firms before joining Prudential Securities in 1989 and 1992, respectively, and then moving together to Wells Fargo in 2003. Mr. Gallante began his career in 2012 at Olympia Asset Management and joined the team at Wells Fargo in 2013.

Latest News

Five-person Raymond James team jumps to Janney in Maryland
Five-person Raymond James team jumps to Janney in Maryland

The group led by a 37-year industry veteran brings $470 million in assets to the Philadelphia-based broker dealer.

$20B Merit looks to next phase as Constellation takes minority stake
$20B Merit looks to next phase as Constellation takes minority stake

The Atlanta, Georgia-based national wealth firm revealed its new PE partner as prior backers Wealth Partners Capital Group and HGGC’s Aspire Holdings exited their investments.

$350M father-son duo hops from Osaic to Equitable Advisors
$350M father-son duo hops from Osaic to Equitable Advisors

The latest departures in Ohio mark another setback for the hybrid RIA, which is looking to "expanding its presence across all models and segments of the wealth management industry.”

Fresh off HPS acquisition, BlackRock inks deal for $7.3B ElmTree Funds
Fresh off HPS acquisition, BlackRock inks deal for $7.3B ElmTree Funds

The St. Louis-based real estate investment firm gives the asset management giant a valuable access point to the roughly $1 trillion net lease market.

SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees
SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees

Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

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.