John Olerio

3 weeks ago | portfolio.bisanet.org | Andrew Welsch |Eric Rasmussen |John Olerio |Leo Almazora

LPL Financial said it would acquire Commonwealth Financial Network, a privately owned wealth management company with approximately 2,900 financial advisors, for $2.7 billion. The deal, expected to close in the second half of the year, is one of LPL’s largest acquisitions and will push LPL’s advisor head count above 30,000. Commonwealth has $285 billion of brokerage and advisory assets. LPL has approximately $1.7 trillion. Read the full article on Barron's

1 month ago | portfolio.bisanet.org | John Manganaro |Eric Rasmussen |John Olerio |Leo Almazora

More than nine in 10 asset managers believe that annuity products carry a negative connotation, according to research from Cerulli Associates, including nearly one in five who strongly hold this view. While the “strongly agree” camp declined from 24% to 19%, the negative perspective has nonetheless increased, indicating that more asset managers now recognize the persistence of this stigma.

1 month ago | portfolio.bisanet.org | Alex Ortolani |Eric Rasmussen |John Olerio |Leo Almazora

In anticipated amendments to guidance on the U.S. Securities and Exchange Commission’s (SEC) marketing rule, the regulator’s Division of Investment Management has lightened the burden for registered investment advisors when reporting investment performance in marketing materials.