Top Stories of the Week: Morgan Stanley, Merrill Execs Outline Strategy, Dynasty Offers ‘Forgivable’ Loan, and More
Most popular stories from June 9 to June 15.
Firm will retain 35% of participating firms’ cash flow during term of eight-year “forgivable loan” program.
After spending his 26-year career with UBS and PaineWebber, where his father also worked, Steven Tenney joins growing group of breakaways using Dynasty Financial to support their new business models.
Heads of $450-million Merrill team and $340-million Wells Advisors team explain their motivations in frank messages to former clients about their new and old firms.
After almost 25 years with the Thundering Herd, advisor managing $450 million sets up independent shop through Dynasty Financial Partners.
A Morgan Stanley team in Houston managing $6 billion left to form an independent advisory firm on Friday, the same day a branch in Boca Raton lost three advisors collectively producing $2.8 million to Wells Fargo.
Goldman Sachs Group Inc. veteran Gary Hirschberg is the latest executive to leave a high-profile bank and start an independent wealth-management firm.
Bruce Lee, a former top-ranked broker to the very wealthy, has joined with another PBIG alumnus to launch Keebeck Wealth Management.
Independent advisory firms, broker-dealers, and regionals that were hiring steadily from wirehouses have the most to lose if the big firms protect their flanks through litigation.
New financing program will give firm that had provided independent advisors pay-for-service practice management strategies and operational support 5-10% of a firm’s revenue.
Former southwest regional manager at Morgan Stanley’s advisory unit to help oversee Dynasty’s investment platform.