Purchase of Spokane-based Hart Capital Management by Mercer Global Advisors in December was the RIA rollup’s fifth closing that month.
Independent broker-dealer Sanctuary has landed its 42nd team since its 2018 launch while Snowden says it wooed a former billion-dollar Merrill broker back to the business.
About one of four brokers surveyed still plan to go independent, but the pandemic has delayed their exit schedules and caused them to seek options where they will receive greater support than they had planned.
Morgan Stanley Smith Barney “institutional consulting” veteran joins 70-employee, $2.5 billion AUM firm, Hamilton Capital, in Columbus, Ohio.
Executive who was trained at Schwab and ran business consulting at LPL will oversee more than 3,000 advisors at the insurance giant’s Prudential Advisors unit.
Virginia advisor timely repaid a $250,000 loan he used to remodel his “breakaway” office while at the wirehouse, but lost his job and has been sanctioned for failing to receive Merrill approval.
Independent broker-dealer Cambridge Investment lost arbitration request for more than $390,000 from advisor fired for block-trading issues.
Wells asks court to restrain five-person team managing about $600 million from using information they allegedly took prior to their departure in late September.
The departures in Missouri and Oregon on Friday add to steady drain of brokers from Wells over the past two years.
BAC Florida Investments, which has 23 registered reps, agrees to $100,000 fine for overcharging a registered investment advisor’s customers in fixed-income pricing fraud.