wealthmanagement.com Media Bias

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Merrill Grows Advisor Headcount 2% Despite Market Volatility - Wealth Management

Despite a turbulent market environment in 2022, Merrill Lynch Wealth Management boosted its advisor headcount year-over-year, with President Andy Sieg predicting the firm would continue to see 3%-4% advisor growth on average per year over the next decade.
wealthmanagement.com     Jan 14, 2023

How to Help Middle-Rich Clients - Wealth Management

entertainment

Right out of the gate, Turney P. Berry’s Heckerling lecture entitled “Not Too Rich, Not Too Poor: Goldilocks Planning for the middle-rich Clients Who Need Our Help” makes clear that planning for the “middle-rich” is planning for individuals who have wealth that vastly exceeds the unified credit amount (currently $12.92 million). In his estimation, being mddle-rich starts with having $20 million in assets and a 20-year life expectancy. Someone who has a longer life expectancy would need more assets to be considered middle-rich, and a middle-rich couple would have around $40 million in combined assets.
wealthmanagement.com     Jan 14, 2023

Forcing Removal of Corporate or Individual Trustees - Wealth Management

The second day of the 57th Annual Heckerling Institute on Estate Planning in Orlando, Fla. concluded with Craig M. Frankel’s presentation, “You’re No Good, You’re No Good, You’re No Good, Baby, You’re No Good ” – Saying Goodbye to the Recalcitrant Trustee.” As aptly put in the title, the session served as a primer on how a beneficiary can force the removal of a recalcitrant corporate or individual trustee.
wealthmanagement.com     Jan 14, 2023

Invite Your Team to Design and Implement Your RIA's Business ... - Wealth Management

business

Business owners often carry the responsibility for managing all aspects of their RIA firms— strategy, services, positioning, business development and the list goes on. This approach leaves leaders burned out and team members buried in tactical execution with their heads down and hearts despondent.
wealthmanagement.com     Jan 12, 2023

Goldman Sachs Adds Former Raymond James Team to Custody ...

A team of advisors led by Margaux Fiori departed Raymond James’ independent contractor division last month to launch their own registered investment advisor, Fort Lauderdale, Fla.–based Fiori Financial Group, which will custody assets with Goldman Sachs Advisor Solutions.
wealthmanagement.com     Jan 12, 2023

Maura Creekmore Leaves BNY Mellon | Pershing - Wealth Management

Creekmore started at BNY Mellon in 1994 as an individual contributor working with client executive management teams, according to her LinkedIn profile. During her time with the company, she held positions as team leader, managing director and head of global client relationships.
wealthmanagement.com     Jan 09, 2023

2023 Kicks Off with Several RIA M&A Announcements

In the first week of the new year, active acquirers in the registered investment advisor space announced a spate of new transactions. Some got done last year, but others closed this week or are slated for this quarter. Not a comprehensive list, these deals may indicate the RIA M&A market will remain vigorous in 2023.
wealthmanagement.com     Jan 09, 2023

Here Are the Top ETFs for Retail Investors in 2023

It would mark a dramatic turnaround from 2022, when bonds fell alongside almost every other asset class, posting their worst year in a generation. The miserable year for investors — which saw US stocks and Treasuries both suffer double-digit declines for the first time since at least 1872 — was the result of the Federal Reserve aggressively hiking interest rates in an attempt to tame inflation.
wealthmanagement.com     Jan 07, 2023

Kingswood SPAC Files for Wentworth to Go Public - Wealth Management

Many special purpose acquisition companies (SPACs), blank check companies that raise capital through an initial public offering to acquire or merge with an existing company, collapsed in 2022. But recent filings with the Securities and Exchange Commission indicate that one SPAC in the wealth management space is on track. Kingswood Acquisition Corp. (KWAC), the SPAC sponsored by the major shareholders in British wealth management firm Kingswood Group and a sister company to Kingswood U.S., appears to be on track as it filed its S-4 with the SEC late last month, giving investors a glimpse at the firm's revenues and profits.
wealthmanagement.com     Jan 07, 2023

Alvarium Tiedemann SPAC Lists on Nasdaq - Wealth Management

After a series of delays, New York–based registered investment advisor Tiedemann Group and London-based wealth management and investment firm Alvarium Investments have merged via Cartesian Growth Corporation, a special purpose acquisition company that launched in early 2021. The combined company, now called Alvarium Tiedemann Holdings, began trading Wednesday on the Nasdaq stock exchange under the ticker “ALTI.”
wealthmanagement.com     Jan 07, 2023

2023 Predictions for the Digital Asset Ecosystem - Wealth Management

technology

Blockchain technology has enabled a digital asset ecosystem that can change how we live, work, play and interact on a global scale. While the digital assets market unfortunately experienced high-profile collapses lately, it is essential to distinguish volatile price action, process failures and fraud by bad actors from the robust foundation. The underlying distributed ledger technology (DLT) has immense potential to propel the modern innovation of finance.
wealthmanagement.com     Jan 06, 2023

DOJ: Arizona 'Advisor' Used $13M in Client Funds to Buy Metals

An Arizona-based man allegedly purported to be an investment advisor and raised nearly $20 million from clients, spending more than $13 million of those funds on buying gold, silver and other metals instead of investing, according to charges from the Department of Justice (DOJ).
wealthmanagement.com     Jan 06, 2023