In addition to losing a Beantown duo said to be producing $3.5 million, Morgan Stanley bid farewell on Friday to a Boston complex manager who joined Raymond James.
Long-time partners George Fuchs and David Schulman, who have worked together since the late 1990s at Dean Witter and Smith Barney, had been serving clients with $1.5 billion at Wells Fargo.
Democratic presidential candidate Elizabeth Warren proposed a universal child care plan that would limit American families’ expenses to 7 percent of income regardless of how many children they have in care — paid for by a tax on the ultra-wealthy.
Bill Lane, who migrated to Wells Fargo Advisors with three partners following the demise of Credit Suisse Securities, left their Radnor, Pennsylvania branch on Thursday to start a “multi-family office” with a small RIA.
The departure of the two advisors follows the exit of a $730-million asset team in Ohio earlier this week from from the Swiss bank’s U.S. brokerage operation.
Even for this Gilded Age of 0.0001 percenters, Kenneth Griffin drips money. The hedge-fund mogul recently closed on a New York penthouse for an eye-watering $240 million. Before that he picked up a $122 million London mansion. He can hang his $200 million Pollock in one and his $300 million de Kooning in the other.