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…

(Bloomberg) — UBS Group AG named investment banking chief Rob Karofsky to run its U.S. business and jointly oversee wealth with Iqbal Khan, in a management shakeup that paves the way for a race to succeed the CEO Executive Sergio Ermotti. Connected: UBS has better business mix than Morgan Stanley, JPMorgan says Khan, who previously…

Raymond James has recruited a team of five advisors and four branch professionals in the financial institutions division. Horizon Group joins Pinnacle Asset Management, part of Pinnacle Financial Partners, a banking arm affiliated with Raymond James. The team joins from Truist, where it previously managed approximately $947 million in client assets, and will operate from…

(Bloomberg) — Apollo Global Management Inc . plans to expand its asset origination business to sell private credit to retail channels, including exchange-traded funds, Chief Executive Marc Rowan said. The firm already sells its credit instruments to its Athens business and other insurers, as well as institutional investors. Connected: Goldman Sachs plans to court RIAs…