Alan Walsh

3 weeks ago | citywire.com | Alex Steger |Ian Wenik |Alan Walsh

Alex Steger and Ian Wenik do a deep dive into LPL Financial’s $2.7bn acquisition of Commonwealth Financial Network. They discuss how Ian broke the story, what the immediate impact is around the industry, and who’s in position to win (and lose) as the deal gets finalized. Already have an account? Do you personally advise on or manage investments for clients?

1 month ago | citywire.com | Sam Bojarski |Alec Rich |Ian Wenik |Alan Walsh

Summit Financial continued its rapid pace of RIA investments on Friday, staking a fellow New Jersey-based firm. Summit made the investment in Gateway Advisory, an $830m AUM firm, via Summit Growth Partners, the RIA’s partnership network. Specific financial terms of the deal — including the size of Summit’s stake — were not disclosed, but the Gateway team will join Summit’s headquarters in Parsippany as a result, the company said. Already have an account?

1 month ago | citywire.com | Sam Bojarski |Ian Wenik |Lawrence Lever |Alan Walsh

For RIAs, it’s grow or die. That may be a tad hyperbolic, but consolidation in the wealth management industry and tough competition for clients has put pressure on firms of all sizes to generate new business. In the fifth of six videos from the Citywire RIA CEO summit, Merit Financial Advisors president Kay Lynn Mayhue and Cerity Partners head of partner development Claire O’Keefe explain the biggest pressures they see on their companies. Already have an account?

1 month ago | citywire.com | Sam Bojarski |Ian Wenik |Lawrence Lever |Alan Walsh

Arbitrators have ordered Stifel Financial’s broker-dealer to pay nearly $133m in damages and fees over a structured note strategy run by a Miami-area brokerage representative. An arbitration award published Wednesday by the Financial Industry Regulatory Authority (Finra) shows that the award relates to conduct by broker Chuck Roberts, who according to the BrokerCheck database joined Stifel in 2016 from Morgan Stanley.

1 month ago | citywire.com | Ashley McConnell |Ian Wenik |Lawrence Lever |Alan Walsh

Pershing, the RIA clearing and custody division of multinational bank BNY, is developing a new referral program for its wealth manager clients, according to sources with knowledge of the situation. Nancy Gordon, the newly hired head of advisor growth at Pershing, is overseeing the project, sources told Citywire. Gordon joined Jersey City, N.J.-based Pershing in September of 2024 from Bakkt, a cryptocurrency trading software company.