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Michigan duo managing $350 million at Merrill joins Rockefeller
Low Group, a four-person team, is based in Bloomfield Hills, Michigan.
Morgan Stanley targets $10 trillion in AUM: Gorman
The wirehouse reported new records for net new assets of $105 billion, up 43% from the end of December and an increase of 183% from the same period a year earlier. 'My target is $10 trillion of money under management,' said CEO James Gorman. 'I've told the team internally, they hate that.'
Team managing $400 million at Truist moves to D.A. Davidson
The three-adviser Marshall & Whatley Investment Group is based in Harrisonburg, Virginia.
Merrill Lynch client balances climb 31% year over year
While assets increased, adviser head count at the thundering herd dipped. The company is looking to expand in key markets like San Francisco, Florida and another half-dozen locales.
Goldman Sachs keeps cryptocurrency focus on institutional investors
Retail investors on the Marcus platform should not expect any crypto offerings alongside basic banking services, said CEO David Solomon during the bank’s first quarter earnings call.
Wells Fargo adviser head count slips 8% year over year
The decline is expected to continue over the next six months as the bank closes its international wealth management business. The embattled bank recently revised how it tallies its adviser head count total and this year began including about 800 to 900 private bankers and portfolio managers.
Indie adviser managing $800 million moves to LPL from Kestra
Kip Adams and his team in Fort Worth, Texas, serve as the retirement and private wealth leaders for Gus Bates Insurance & Investments.
Adviser managing $500 million at Wells Fargo joins RIA
Lisa Quadrini moves to Brandywine Oak Private Wealth in suburban Philadelphia.
Schwab accidentally puts $1.2 million into woman’s account
The woman, who used some of the money to buy a house and an SUV, was arrested earlier this week.
Hybrid team managing $340 million joins Cetera from LPL
The Advisors, a five-adviser group, is based in Murraysville, Pennsylvania, and headed by Bryan Davis.
Merrill Lynch team managing $650 million joins LPL
Four-adviser NorthEnd Private Wealth is launching in Greenville, South Carolina; it is affiliating with LPL via its Strategic Wealth Services offering.
Ameriprise to buy BMO asset management unit
The deal to purchase the Bank of Montreal's Europe, Middle East and Africa asset management unit will bring $124 billion in AUM.
Stifel CEO says life after Covid means return to the office
CEO Ron Kruszewski cited benefits related to training, collaboration and the reinforcement of the firm's culture in his annual letter to shareholders.
Advisers managing $686 million affiliate with Raymond James
OSJ Boston Harbor adds two indie teams, as well as advisers from Morgan Stanley and Merrill Lynch.
Goldman secrecy on harassment claims faces challenge
Goldman faces a vote at its annual meeting later this month on whether it should publish a report on how its mandatory-arbitration policy impacts employees and workplace culture.
UBS loses $371,000 claim linked to options strategy
UBS has been hit with a rash of arbitration claims over strategies investors say damaged them, and most recently it saw a wave of investor complaints over Puerto Rico bonds and bond funds.
Why the ‘one bad broker’ rule matters
One bad broker making big bets or selling lousy or misunderstood products can damage or even ruin a firm. Are firms doing enough to keep those brokers and high-risk behaviors in check?
Yankees great Derek Jeter joins board of Rockefeller Capital Management
Jeter, whose teams won five World Series, retired from baseball after the 2014 season and is currently the CEO of the Miami Marlins.
Group advising on $470 million switches from Triad to Arkadios
Wagner Wealth Management, based in Greenville, South Carolina, has seven reps.
Team with $583 million joins SagePoint from Kestra
Charles Stephen, an Albuquerque, New Mexico-based firm with four advisers, will affiliate through super-OSJ AmeriFlex.
