A Texas-based adviser with about $820 million in assets under management is joining LPL's stand-alone model from Merrill Lynch, according to the independent broker/dealer. Clayton Ortloff to join LPL Strategic Wealth Services to launch Heritage Private Wealth. He joined the industry in 2006 with Merrill Lynch, spending his entire financial services career with the wirehouse…

As we continue to revamp defined contribution plans to replace ever-declining defined benefits, the roles of service providers and money managers, but especially advisors, must change as well. Plan sponsors can no longer offer a menu of vetted funds and expect employees to enroll, contribute enough, and make wise investment decisions, expecting them to prepare…

In this highly informative and entertaining discussion, Miguel Sosa, research strategist and product specialist at BlueRock Capital Markets, shares his insights on private real estate and alternative lending. Miguel explains why real estate is so much more than office space and why he likes the alternative asset class. He also shares his thoughts on alternative…

(Bloomberg) — EQT AB has named Peter Aliprantis as head of its private wealth management business in the Americas, furthering an industry-wide push to offer high-net-worth clients access to the investments of private market. The Stockholm-based investment firm is hiring Aliprantis as a partner in New York, where he will report to EQT's global head…

Fred Barstein, contributing editor to WealthManagement.com's RPA channel, invites retirement industry thought leaders to answer three probing questions on critical issues, providing an open, honest and candid dialogue. This week, we host Wayne Park, CEO at the US pensions division of John Hancock, a leading record keeper and provider, asking: Coming from a consumer…

Fidelity Institutional released quarterly M&A figures this week that revealed RIA deals slowed in the first three months of 2024—down 6% from the previous quarter and down 29% from the same period last year. At the same time, the average amount of transacted assets increased by 27% compared to the first quarter of 2023, according…

JP Morgan is losing two multibillion-dollar teams bought by the firm in its acquisition of First Republic after last year's regional banking crisis. Merrill Lynch is recruiting a 12-person team in Florida from JP Morgan Wealth Management that manages $3.5 billion in client assets, while Citizens Bank announced it was acquiring a similarly-sized team with…

A former registered representative faces up to 20 years in prison for defrauding the families of dead servicemen by persuading them to invest in firms he worked for while earning more than $1 million in kickbacks in the process. New Jersey-based agent Caz Craffy pleaded guilty in federal court this week to six counts of…

SEC examiners continue to find violations of its amended marketing rule, including advisers falsely claiming to be “free from all conflicts,” according to a new risk alert. Warning of danger posted by the Commission's Examinations Division this week is the third related to the marketing rule and the second since firms were required to comply…

Large transfer of wealth, during which baby boomers are projected to pass trillions to their heirs has been a hot topic for some time now, but will finally come to fruition over the next few decades. According to Cerulli Associates, between now and 2045, Generation X and millennials will inherit $84 trillion. Consequently, many are…