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Oct 28, 2024 · This story originally ran on Financial Advisor IQ sister publication Ignites. Vanguard will shutter its legacy mutual fund platform at the end of 2025 after nudging clients to migrate to its brokerage platform for roughly a decade, a company spokesperson confirmed.. The firm is working with Transfer Agent platform holders to transition them to its Vanguard Brokerage Account platform, a company ...
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Nov 4, 2024 · Stifel Financial has reached an agreement to acquire a portion of B. Riley Financial's wealth management unit.. Stifel will onboard "[a]n expected 40 to 50 advisors, along with the associated customer accounts," from B. Riley's W-2 wealth management segment, B. Riley said Friday in an announcement.
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Nov 5, 2024 · Ampersand Partners, an increasingly popular destination for Wells Fargo advisors seeking independence, has landed yet another high-asset team from the wirehouse.. Advisors Edward Prewitt, Max Mahler and Mark Gilbert announced Monday that they have joined Ampersand in Fayetteville, Arkansas. Their new practice, 1828 Capital, oversaw about $1.4 billion in assets at Wells as of March 2024 ...
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Oct 29, 2024 · Wells Fargo Advisors' independent channel has lured a financial advisor team from LPL Financial, where they had spent the past 10 years.. Advisors P. Steven Pierce, Kelley Orr and Phil Clark have joined Wells' Financial Network channel in Owensboro, Kentucky, a spokesperson for the firm confirmed. The team, which also includes Operations Manager Kay Cooper and administrative assistants Faye ...
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Oct 24, 2024 · A year after adding perks and rolling back some criticized components of its compensation plan for financial advisors, Merrill Lynch revealed that it is largely sticking with the same pay structure for 2025. The wirehouse will make no changes to its compensation grid rates, hurdles or payouts, according to a source familiar with the plan.
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Oct 11, 2024 · Commonwealth Financial Network says it's aiming to create a family office experience for clients and is building out its high-net-worth capabilities to enable that plan. "The idea behind our high-net-worth initiative is over the next three to five years to replicate a multifamily office model at Commonwealth," Director of High Net Worth Heather Zack told FA-IQ in an interview on the sidelines ...
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Oct 22, 2024 · The saga between the investment bank EF Hutton and its former Chief Executive Officer Joseph Rallo appears to have come to a close after Rallo and the firm's current CEO, David Boral, agreed to drop their respective lawsuits against each other. "Mr. Rallo and Mr. Boral have mutually decided to take their businesses in different directions, with Mr. Boral retaining the broker-dealer and its ...
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Oct 10, 2024 · Edward Jones says it has reunited with a financial advisor who began his career with the firm and left in 2010.. Advisor Chad Hansen has joined the firm from Wells Fargo, where he managed $107 million in client assets, Edward Jones said in announcing the move.. Hansen will continue to serve clients in the Waukee, Iowa area. Hansen brings 18 years of experience and started his career at Edward ...
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Nov 26, 2024 · CI Financial, a Canadian asset manager and prolific acquirer of U.S.-based registered investment advisory firms, has agreed to be taken private by an asset management subsidiary of Abu Dhabi's state investment fund.The all-cash offer from Mubadala Capital values CI Financial's equity at about $3.4 billion and its enterprise at …
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Dec 30, 2024 · US Banking Giants Capture Biggest Share of Industry Profits Since 2015