Choreo, a Chicago-based RIA that oversees more than $24 billion for more than 7,200 households and almost 100 institutional investors, has tapped the CIO of a recent acquisition to lead an expanded investment team. A CFA based in Columbia, Md., Matthew Gotlin joined Choreo from BDO USA when Choreo acquired her wealth management business and…

Shares of Morgan Stanley fell as much as 6.5% after a report that a cadre of US regulators is looking into the firm's efforts to prevent possible money laundering by wealthy clients. The Securities and Exchange Commission, the Office of the Comptroller of the Currency and other Treasury Department offices are probing whether the New…

I am a recovery counselor. I spent over 12 years in that role. I grew up in this business. Right out of college, I started an internship, which turned into what has now been my career with essentially the same firm. IN 2017, Merit became a new company. We tripled in size. We were big…

Arax Investment Partners, a wealth management platform backed by private equity firm RedBird Capital Partners, has acquired US Capital Wealth Advisors, a hybrid broker/dealer and registered investment advisor with $9 billion in total assets across 5,500 clients and 62 advisors. The firm, headquartered in Houston, will operate as a separate brand on the Arax platform…

The Carson Group has appointed Dani Fava as its new chief strategy officer and Heather Randolph Carter as its chief marketing officer. The news comes just days after the firm unveiled its CEO and founder Ron Carson was resigning to become chairman of the board. Burt White, managing partner and chief strategy officer, is the…

The Labor Department's fiduciary rule is one step closer to completion, with the White House Office of Management and Budget wrapping up its review this week. OMB's regulatory review ended on April 10, according to federal records. White House met with supporters and opponents of the rule starting in late Marchincluding the CFP Board and…

Heading into 2024, spot bitcoin ETFs were on the brink of official SEC approval, and while there appeared to be pent-up demand from investors, the magnitude of that interest was unclear. On the three-month anniversary of the launch of spot bitcoin ETFs in the US, the market's verdict is clear: these products have been extremely…

Diversify Advisor Network, a $7 billion Utah-based wealth management firm that includes two corporate RIAs and a broker/dealer with alternative expertise, has added its fourth firm. the acquisitive employee modelDiversify Wealth Management. Key Advisors Wealth Management, a 10-person team with two offices in Delaware overseeing $645 million in client assets, had been affiliated with Diversify…

LPL Financial has recruited a McAllen, Texas-based team with $500 million in client assets, the second practice to join LPL from Ameriprise Financial this week. Strategic Insights Financial Planning Group was founded in 1986 by Arthur Hughes, who has been associated with Ameriprise for 37 years. The team also includes managing partners James Credo and…

A key piece of legislation aimed at spurring continued investment in Opportunity Zones may be stalled in Congress until next year. When the Opportunity Zone program came into being as part of the Tax Cuts and Jobs Act (TCJA) of 2017, the tax benefits for individual investors were one of its main selling points. Aimed…