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3 weeks ago | 
fa-mag.com | Edward Hayes
It can be difficult for advisory firms, regardless of their size, to bring in new talent. One way to attract such talent is to help new and young advisors build out their business, according to a recruitment specialist at Ameriprise Financial. There are two major transitions taking place in financial advice. One is the great wealth transfer, where trillions of dollars are expected to pass from one generation to the next over the next 20 years.
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3 weeks ago | 
fa-mag.com | Edward Hayes
Financial advisors worried about client retention amid the great wealth transfer are getting a bit of bad news from a recent study: A new wealth report released by Capgemini’s Research Institute found a significant number of inheritors are planning to leave their parents’ advisors within the next few years.
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3 weeks ago | 
fa-mag.com | Edward Hayes
Partners Group, an alternative asset managers with about $150 billion under management, is continuing to expand its U.S. private wealth division with the appointment of Anastasia Amoroso from iCapital as its new managing director and chief investment strategist for private wealth and retirement.
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1 month ago | 
fa-mag.com | Edward Hayes
Many Americans aren’t consulting financial advisors about college savings, and many might not even know what a 529 plan is, according to research from Edward Jones. In an annual survey, the firm spoke with 2,200 adults and found that 78% do not typically consult a financial advisor before making decisions about education savings. That high number suggests financial advisors have not been doing as much as they can on this issue.
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1 month ago | 
fa-mag.com | Edward Hayes
Ashton Thomas Private Wealth, an Arax Investment Partners firm, announced it has recruited two advisors who managed $900 million at SVB Private, a division of First Citizens Bank. Lance Millar and Stewart Preziose will form the Speritas Private Wealth Team in San Francisco, with Millar as a partner, managing director and private wealth advisor, and Preziose as a wealth advisor.
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1 month ago | 
fa-mag.com | Edward Hayes
Vanguard today launched two municipal bond exchange-traded funds, including one designed for investors dealing with high New York state taxes. The Vanguard Long-Term Tax Exempt Bond ETF (VTEL) and the Vanguard New York Tax-Exempt Bond ETF (MUNY) are index municipal bond ETFs managed by the Vanguard Fixed Income Group. The New York ETF is only the firm’s second state-focused passive ETF. It is designed to help those dealing with the high taxes of New York.
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1 month ago | 
fa-mag.com | Edward Hayes
VisionPoint Advisory Group and Navitas Wealth Advisors have merged to create Balefire, an SEC registered investment adviser, with more than 60 financial professionals and almost $4 billion in assets. The firms came together equally in an effort to combine their abilities to better serve their client base, according to the new firm.
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1 month ago | 
fa-mag.com | Edward Hayes
Wealth advisory firm Lido Advisors, which is looking to expand beyond its current asset level of $30 billion, continued that growth with the announcement of a strategic partnership with HPS Investment Partners. Lido sold a stake of its firm to HPS, which is an alternative investment firm with $150 billion in assets under management. It joins Charlesbank Capital Partners, which became a majority owner in 2021, along with Lido’s 135 employee-owners.
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1 month ago | 
fa-mag.com | Edward Hayes
Franklin Templeton has appointed Roger Paradiso to serve in the new position of head of Franklin Templeton Custom Client Solutions. The group unites the firm’s advisor-oriented investment technology tools under a unified strategy and organization. Some of those tools include Canvas, Managed Options Strategies (MOST), Goals Optimization Engine (GOE), Portfolio Analytics Tool (PAT), Goldberry and Advisor Engine.
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1 month ago | 
fa-mag.com | Edward Hayes
U.S. lawmakers recently decided not to touch the tax exemption on municipal bonds, and that opens greater opportunities for investors in that market, according to a new white paper published by asset manager Nuveen. Last week, the House Ways and Means Committee approved a significant portion of President Donald Trump’s tax plan, which includes continuing the tax cuts set out in the Tax Cuts and Jobs Act of 2017.
