Merrill Lynch Team of Advisors Join LPL
A team reportedly managing $650 million in assets is leaving Merrill Lynch and launching a new firm with LPL Financial. According to the release, the four advisors will leverage LPL’s broker-dealer, corporate RIA and custodial platforms, and the Strategic Wealth Services model. Their independent practice called NorthEnd Private Wealth will be headquartered in Greenville, South Carolina.
#1 RIA Valued at $7.3 Billion in Investment from PE Firm Warburg Pincus
The #1 independent advisory firm in the country just announced has a new investment from Warburg Pincus. The PE firm is acquiring minority ownership and joining the board of Edelman Financial Engines, which manages $260 in assets. According to the release, this strategic investment values the nation's top RIA at $7.3 billion and is expected to close in the second quarter of this year.
Former White House Economic Director Larry Kudlow to Join $2.6 Billion RIA
Former White House Economic Director Larry Kudlow is joining The Bahnsen Group, a bicoastal $2.6 billion wealth management firm. As part of his new role as economic advisor, Kudlow will participate in client events and advise The Bahnsen Group’s investment committee. CIO David Bahnsen said in the release “Larry has been a mentor to me for many years, both personally and professionally. We both share a love of free markets."
Mercer Global Advisors Acquires $815 million Atlanta RIA
One of the largest financial planning firms in the country managing nearly $25 billion is expanding its footprint in Georgia. Mercer Global Advisors is buying Atlanta Financial Associates. AFA is a woman led and founded RIA that has about 570 clients and $815 million in assets under management.
Barry Ritholtz: Favorite Stories from the Least Favorite Year
Ritholtz Wealth Management Chairman & CIO Barry Ritholtz shares what it was like launching his own firm and the lessons he has learned along the way. He also outlines 10 finance phrases to avoid, compares the stock market to the economy, and talks about why it's important to set goals.
#1 Financial Advisory Firm Shares Biggest Piece of Investment advice
David Rea tells investors not to forget this very critical investing principle. He's President of Salem Investment Counselors, which has been ranked the #1 Advisory Firm by CNBC two years in a row.
$2 Billion Advisors from Morgan Stanley Move to LPL Affiliate
A $2 billion team from Morgan Stanley is heading to LPL affiliate Gladstone Wealth Partners. John Gallagher and Mark Levin are setting up a new office in Marlton, NJ. The advisors said in the press release that they chose the name cfor the new firm because Maverick means "independent-minded."
Mitlin Financial Founder Talks Technology, Client Needs & Diversity
Larry Sprung, Founder and Wealth Advisor at Mitlin Financial, shares how client needs and expectations have changed over the years and how to align investments with goals. He also weighs in on diversity and inclusion, what inspired him to become a financial planner, and the evolution of technology.
LPL Recruits $1 Billion Team from Omaha
LPL Financial just picked up a $1 billion team from Omaha. Tagge Rutherford Financial Group is leaving Cetera to join LPL Financial’s broker-dealer and corporate RIA platforms. Executive Monte Peterson said in the release, "we recognized a need for a change—one that impacts clients positively and creates more office efficiencies."
Carson Group Founder: The Power of Positive Energy
Carson Group Founder & CEO Ron Carson shares what it was like to be one of the first independent advisors in the space and what he has learned about investing and proving your value over the years. He also weighs in on how technology has changed the landscape.
#1 RIA Ric Edelman on 2020 Election & COVID-19
Ric Edelman shares how the results of the 2020 Election could impact markets and whether the economy will catch up with the stock market. He's the Founder of Edelman Financial Engines, which has been consistently ranked the #1 RIA by Barron's.
Wealthspire Advisors: Focus on Talent & Culture
CEO Mike LaMena shares how talent and culture have led Wealthspire Advisors to be ranked a Top 25 Registered Investment Advisor by Barron's. He also compares organic growth with M&A and explains why both are important.