Missouri is the latest state to warn advisers about using popular wealth technology platforms that access client assets held in accounts such as 401(k) plans and banks. In a letter sent to more than 40 state-registered advisers, the Missouri Division of Securities said the use of the tools, which rely on client login credentials to…

(Bloomberg) — Banking giants that once had more ground to lose to the emerging world of private lending continue to find more ways — and a lot more money — to pump into the sector. For years, the threat was that direct lenders would oust incumbents by luring customers away from the corporate loan business….

(Bloomberg) — Before 12 New Yorkers convicted Donald Trump of being a criminal, a very different jury — one assembled at the luxury Pierre Hotel on Fifth Avenue — had reached a verdict of its own. Even if the courtroom jury found him guilty as charged, wealthy Wall Streeters concluded in Pierre, he would still…

RBC Wealth Management has recruited a team in Florham Park, NJ that manages $855 million in client assets. The team, led by veteran adviser Michael Taggart, is joined by JP Morgan. The Taggart Group includes Senior Business Associate Dalia Bubbico, Senior Finance Associate Jerry Azzollini and Senior Registered Client Associate Ria Taggart. Michael Taggart, who…

I have been in the industry for a long time. After graduating from college in 1985, I went to Wall Street in 1986. I traded stocks for a hedge fund. After I left, I became a pastry chef for some fantastic restaurants. When I got divorced, I went back to finance. I ended up starting…

Advisors affiliated with MML Investor Services, a subsidiary of Massachusetts Mutual Life Insurance Company (MassMutual), will now have access to alternative investments through CAIS. of division The end-to-end technology platform spans alternative investments, including hedge funds, private equity, private debt, real estate, infrastructure and structured notes. Connected: The Technical Estate Revolution is gaining speed The…

Agents and clients of a San Francisco-based firm with more than $800 million in client assets under management will join Arete Wealth Management. Although it is merging with Arete, Portsmouth Financial Services will retain its business name while continuing to retain client assets at Pershing. The “back-in” through the purchase of assets will bring about…

Goldman Sachs President and COO John E. Waldron reiterated the firm's commitment to face the RIA community as a customer base at Bernstein's 40th Annual Strategic Decisions Conference on Thursday. Waldron sees a significant opportunity to do this by providing RIAs with access to alternative investments in open-ended fund envelopes as the firm grows its…

A team of advisers in Richmond, Va., left Salomon & Ludwin, a registered investment adviser, this week to launch their own RIA, Founders Grove Wealth Partners, with backing from Dynasty Financial Partners. On Tuesday, Salomon & Ludwin filed suit against the four team members and Founders Grove, alleging that they intentionally misappropriated the RIA's trade…

One of the growing trends in the financial advisory industry is that advisors are talking (and for the most part, just that) about using estate planning to add value to current clients and create stronger connections with their families. (otherwise known as potential future customers). In response, recent years have seen several technology companies (mostly…