Cetera Financial Holdings senior management is planning a webinar Thursday afternoon with Avantax Inc.’s financial advisors to discuss questions raised by some of the 3,100 advisors in the wake of Cetera’s announcement earlier this month that it’s buying the tax-specialized broker-dealer for $1.2 billion. The advisors have plenty of questions...
By all accounts, the second edition of Future Proof was a complete success. Articles across industry publications and consumer-facing media have praised Advisor Circle and Ritholtz Wealth Management for creating a unique and refreshing event that appeals to a younger, more diverse generation of financial advisors. I wrote something...
An Omaha, Nebraska-based team that managed $605 million in client assets at Principal Securities has switched to LPL Financial and will use its broker-dealer, RIA and custodial platforms, the firm announced Wednesday. Pat Ricketts and Mindy Helfrich, who operate as Vintage Financial Group, have worked together since 2012. Ricketts has...
The principal membership organization and trade association for certified financial planners has a new president-elect and treasurer for the coming year. The Financial Planning Association announced Wednesday that its board elected Paul Brahim as 2024 president-elect. Brahim’s one-year term is slated to start Jan. 1. Brahim, managing director and senior...
Carina Diamond has always been interested in what comes next. That’s led Diamond, a former financial advisor, on a journey through the financial services industry, with a career that has spanned banking, a broker-dealer and an RIA. Through much of that, she focused on mentoring, so it may come as little...
Advisers are retiring in droves. Between the pending retirements of Gen Xers and the Baby Boomers’ need for retirement income strategies and estate planning, firms are already stretched thin, and there simply will not be enough advisers to meet the needs of consumers in the future. Many universities, companies and...
An RIA firm has agreed to pay at least $18 million after being charged by the SEC for failing to disclose multiple financial conflicts of interest. The regulator said that AssetMark Inc. did not disclose that it helped set the fee that its affiliate custodian received for operating a cash...
Two Indianapolis-based RIA firms have combined to create a new brand with more than $750 million in assets under management. Wellington Group and TrustWealth Strategies completed their official merger earlier this month and will now operate under a new brand, Wellington Wealth Strategies, with a rollout already underway. The legacy firms...
Americans outside the wealthiest 20% of the country have run out of extra savings and now have less cash on hand than they did when the pandemic began, according to the latest Federal Reserve study of household finances. For the bottom 80% of households by income, bank deposits and other...
BlackRock Inc. said insurance executives overseeing $29 trillion plan to pour more money into private debt and credit strategies while cutting back on private equity and real estate. Of 378 senior insurance executives surveyed by BlackRock, 89% said they plan to invest more in private markets during the next...