Prospera Financial Services, an independent broker/dealer headquartered in Dallas, has added an Irvine, Calif.-based team with approximately $115 million in assets under management. Up the Graph Financial Group, led by Garrick Updegraph, is joined by Wells Fargo Advisors Financial Network. Updegraph was with Wells Fargo for 13 years. Before that, he was with Morgan Stanley….

(Bloomberg) — Thomas Matthew Crooks, the The 20-year-old armed who shot and wounded former President Donald Trump at a rally in Pennsylvania, appeared briefly in an ad for BlackRock Inc., the company said Sunday. Crooks was one of several students who appeared in the background of the 2022 ad and were unpaid, BlackRock, the world's…

Goldman Sachs named its Asset and Wealth Management segment as a highlight in its second-quarter results, reporting total net income of $3.88 billion for that segment, up 27% from a year ago and up 2% continuously. The firm's wealth management and other fee income was $1.44 billion, up 8% from the year-ago quarter. The firm…

During this very insightful and entertaining talk, InterVal co-founder and CEO Trevor Greenway shares some fantastic insights about the impact that wealth transfer will have on small and medium-sized businesses. Trevor discusses how wealth managers can capitalize on these trends, the role technology plays, and how they can solve the challenge of determining the value…

A Connecticut-based team that manages approximately $750 million in client assets is joining LPL from Lincoln Financial. This is the latest in several Lincoln teams to join the major independent broker/dealer. Summit Planning Group was founded in 1995 and has offices in Branford and Glastonbury, Conn. The team includes financial advisors Brian Onofrio, David Knocz,…

If you're a business owner, you may have heard about the impending sunset of the federal gift and estate tax exemption. If Congress does not act, the current lifetime exclusion amount (which is the amount of assets you can transfer without paying any federal gift and/or estate tax) of $13.61 million for an individual and…

IRA rollovers are big business for many wealth advisors, with close to or over $800 billion leaving DC plans annually over the past three years, according to Cerulli. While some RPAs focus on returns, most see them as lost revenue opportunities. But with the new DOL fiduciary rule, the potential for in-plan retirement income, and…

(Bloomberg) — BlackRock Inc . pulled $51 billion of client money into its long-term investment funds in the second quarter, pushing the world's largest money manager to a record $10.6 trillion in assets. Investors added $83 billion to ETFs and $35 billion to fixed income overall, New York-based BlackRock said Monday in a statement. Connected:…

(Bloomberg Opinion) – Younger investors are thinking about their investment portfolios all wrong, and it's not entirely their fault. Ultimately, it's up to them to figure out where the best long-term returns lie before too much precious time is wasted. The mistake they are making is to replace stocks and bonds with stores of more…

The financial advice industry is in its second decade (at least) of waiting with baited breath for the so-called Great Wealth Transfer. At this point, every advisor knows the drill: As baby boomers age, trillions of dollars are expected to be on the move to younger generations, representing a huge opportunity (or warning, depending on…