Sue Gardiner quit her position as a financial advisor about a year ago to tend to some family matters. She was only gone a couple of months, but she could hear the clock ticking on her industry licenses. Advisors used to be able to retain their qualifications from passing broker...
When one firm buys another, it’s a often testy situation. For old-timers like yours truly, wealth management mergers and acquisitions can often result in a relationship like Liz Taylor and Richard Burton’s: volatile and unworkable. For the youngsters, or those around 40 or below, deals in the end may...
LPL Financial said advisors Steve Boeckmann and David Wyzgowski, who managed approximately $350 million in client assets at Valic Financial Advisors, the broker-dealer for AIG Retirement Services, have joined LPL’s broker-dealer, RIA and custodial platforms. The pair is launching BW Wealth Management, an independent financial practice based in Scottsdale, Arizona. Boeckmann...
Raymond James said Wednesday that an Indiana team that managed $335 million at Edward Jones is joining the firm’s independent advisor channel, Raymond James Financial Services. Brothers Nate Pendill and Benjamin “BJ” Pendill are co-founders of Pendill Wealth Management, which has offices in both Bloomington and Mooresville, Indiana. The firm’s...
InvestmentNews’ Hot List provides a look into the standout professionals who rise above the challenges of the industry. InvestmentNews readers are invited to share the story of someone who made a notable impact this year. Submit a nomination now before the survey closes on Friday, Sept. 8. The winners will be featured...
A registered investment advisor firm in the Midwest is to be acquired by Pensionmark, the retirement specialists business of World Insurance Associates. The firm, Financial Solutions, was founded 30 years ago and has assets under management of approximately $950 million. It will join the World financial services division led by...
Stratos Wealth Holdings has bolstered its senior leadership team with a new chief operating officer. The family of companies which includes Stratos Wealth Partners, Stratos Wealth Advisors, and Fundamentum, has appointed Phil Nuttall to the COO role, effective immediately. He succeeds Lou Camacho, who will focus on the strategic expansion...
The $17.4 billion Grayscale Bitcoin Trust rallied the most since July 2021 after a U.S. court ruling potentially paved the way for the vehicle to convert into an exchange-traded fund. Shares in the world’s largest Bitcoin portfolio jumped 17% on Tuesday, narrowing their discount to the value of the fund’s underlying token...
A surge in short sales of US Treasury futures suggests hedge funds are expanding basis trades, a popular tactic that may be injecting leverage into a bond market whipsawed in the wake of this month’s selloff. The revival of the trade — which exploits price differences between futures and underlying...
An increasing share of low-income Americans are behind on rent and struggling to afford food, adding to signs of growing financial distress in the economy. Among households using the Supplemental Nutrition Assistance Program’s boosted pandemic benefits, 42% skipped meals in August and 55% ate less because they couldn’t afford food, more...