Oklahoma City-based advisors Alain Verhille and James S. Wood have left Merrill Lynch to join LPL Financial's membership model for high net worth-focused advisors, LPL Private Wealth Management. Advisors is launching Auctus Legacy Private Wealth Management, with $705 million in total assets. Prior to joining LPL, Verhille and Wood spent 17 years at Merrill Lynch,…

As a consultant on the tax laws governing individual retirement accounts and employer plans, I receive many questions from advisors and wealth managers about the Designated Any Community Retirement Enhancement Act of 2019 (SAFE Act) and the SECURE 2.0 of 2022. Some of these questions were raised recently Trusts & Estates webinar I attended.1 Here…

Be careful when the spouse is the beneficiary. Source link

Modern Wealth Management, a registered investment advisory backed by private equity launched last year of former United Capital executives, has acquired Philadelphia-based Wealth Management Solutions and Reston, Va.-based Autumn Wind Asset Management, bringing the firm's assets to more than $3.7 billion. Wealth Management Solutions, which has more than $400 million in AUM and 350 clients,…

I recently began my tenure as chief of operations with the Financial Alliance for Racial Equality (FARE), and for the first time in my career, I feel that my experience, talent, and passion are fully aligned with the organization I serve. FARE has been operating as a non-profit organization since September 2020 with a mission…

WealthStack, the wealthtech pillar of Wealth Management EDGE, held technology demonstrations during its annual conference this week at the Diplomat Beach Resort in Hollywood Beach, Fla. After reviewing the 11 contestants, the judges gave Best in Show Award THE Jump, an AI assistant for advisors that records customer conversations and produces to-do lists, notes and…

Firms seeking organic growth must understand that marketing is not sales. Instead, it's a long-term investment that should be tracked by advisors, said Crystal Mathis, chief marketing officer at SignatureFD. “You have to know you're in it for the long haul,” she said. “A lot of people fall into the trap of 'I'm going to…

(Bloomberg) — Ivan Boesky, who rose to fame and fortune as a top Wall Street arbitrageur in the 1980s only to be exposed as a fraud in the era-defining insider trading scandal, has died. He was 87 years old. The New York Times reported his death, citing his daughter, Marianne Boesky. No details were immediately…

(Bloomberg) — Michael Sonnenshein is stepping down as chief executive of Grayscale Investments after a decade at the cryptocurrency asset manager and will be replaced later this year by Peter Mintzberg. Mintzberg, currently global head of strategy for asset and wealth management at Goldman Sachs Asset Management, will become the new CEO on August 15,…

Editor-in-Chief Susan R. Lipp weighs in on the contents of this month's issue. Source link