An engineering conglomerate owned by Berkshire Hathaway just won an initial victory in a lawsuit brought against the company over its 401(k) plan. The company, Marmon Holdings, was sued last year in a proposed class action filed by law firm Capozzi Adler, which has brought numerous excessive-fee cases against 401(k)...
A team of five financial advisors who managed more than $500 million in assets at Merrill Lynch has joined Raymond James’ employee advisor channel, Raymond James & Associates, the firm announced Tuesday. The advisors, who will operate as Meyer Rotolo Wealth Management of Raymond James in Slidell, Louisiana, are John...
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RBC Wealth Management has recruited a financial advisor who oversaw $435 million in client assets at UBS, the firm announced Wednesday. Brian Wells will join the firm’s Marin County, California, office as managing director and financial advisor. He’s joined in the move by an investment associate, Stephanie Neri. While Wells...
A financial advisor who oversaw $175 million in client assets at Wells Fargo Advisors has affiliated with LPL Financial via is employee advisor channel, Linsco by LPL Financial, the firm announced Tuesday. Aaron Cizon will operate as Cizon Group Wealth Management of LPL Financial out of a new Linsco office...
Carson Group’s Jamie Hopkins is joining Bryn Mawr Trust as director of private wealth management, the firm’s owner, WSFS Financial Corp., announced Tuesday. Carson Group had announced last Tuesday that Hopkins, its managing partner of wealth solutions, would be leaving for family reasons at the end of the month. “We are...
A father-and-son team of advisors who managed about $1.2 billion in assets at Morgan Stanley has joined LPL Financial’s model for supported independence, LPL Strategic Wealth Services. Burke Francis and Christopher Francis will operate as The Francis Group at LPL in the Los Angeles area. Burke Francis has been building...
Commonwealth Financial Networks announced Monday that R&R Wealth Management, a firm that managed nearly $223 million in assets under advisement at Avantax Investment Services, has affiliated with Commonwealth’s network of independent advisors. Waukesha, Wisconsin-based R&R Wealth is headed by Robert Holton and Tom Driscoll, both vice presidents of wealth management...
A recent ruling by the highest court in Massachusetts affirming a state requirement that all financial advisors, including brokers, must act as fiduciaries seems likely to become another issue on which red states and blue states veer off in different directions. While it’s not generating as much attention or heat...
Here’s a quick multiple-choice quiz: Are annuities the functional equivalent of a pension? Can annuities be investments that have nothing to do with retirement? Do clients hate annuities? Do clients love annuities? Do many advisors find annuities so confusing that they prefer to ignore them? If you answered “Yes” to...