Thomas Brenner, a former broker, has been sentenced to more than 10 years in prison by a federal judge in Ohio after pleading guilty to securities fraud that enabled him to acquire funds to pay for a race car and finance back taxes. Brenner is the former president of First...
Citizens Financial Group Inc. rolled out a private bank as it seeks to capture wealthy clients of regional lenders that were felled by the turmoil earlier this year. Citizens Private Bank has already attracted about $500 million in deposits and investments since its soft launch in September and is targeting...
A team that oversaw $1.37 billion in client assets at Merrill Lynch has joined RBC Wealth Management, the firm announced Thursday. The Miami-based Ruccio Group is led by managing director Jeremy Ruccio. The team includes first vice president Tristan Lambert, vice president Bita Asgair, senior registered client associates Lizbeth Sain...
To paraphrase a line from “Hamlet”: To itemize or to take the standard deduction? That is the question. Okay, maybe it’s not exactly Shakespeare, but it is a question frequently posed by clients to their financial advisors. A greatest hit, right up there with: “When should I take my required...
The marketplace for custodians looking to work with registered investment advisors in the wake of Charles Schwab Corp.’s acquisition of TD Ameritrade Holding Corp. is getting more crowded. Another entrant, a firm with decades of experience as a custodian of self-directed IRA assets, is shifting its focus to smaller...
For a second straight year, banks are making more money providing loans and underwriting bond sales for green-related projects than they’re earning from fossil fuel companies. Together, banks have generated about $2.5 billion of revenue from climate-focused financing so far this year, compared with $2.2 billion from their work with...
InvestmentNews is looking for the industry’s premier talent for the first-ever Top Advisors ranking. Successful candidates will be evaluated based on assets under management, AUM growth, and organic client growth introduced to the business over the last 12 months. This is an opportunity to be recognized as one of the leading...
The upward trend in life expectancy has been evident for many years and yet still millions of Americans do little to plan for the large chunk of their lives that will live in retirement. A new survey from Western & Southern Financial Group is the latest to highlight a lack...
Growing demand for alternative assets will add more than $8 trillion to assets under management in the next five years, to a total $24.5 trillion, according to a new report. According to the forecast from industry analysts Preqin, the global alternative assets market will grow at an annualized growth rate...
A multi-family office managing $7 billion in client assets has promoted two long-serving members of its team to key management roles. Pitcairn has announced that J. Matthew McCarte, CFP, CTFA, is immediately taking charge of all relationship management teams as managing director and head of wealth management. He has been...