Ross Snel

New York

Associate Editor at Barron's Advisor

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Articles

Thrivent Wants to Recruit 600 Advisors This Year. It Faces Lots of Competition.

1 week ago | barrons.com | Ross Snel

Welcome to Barron's Advisor! Our articles are free to Barron's subscribers and wealth management professionals. To subscribe to Barron's, click here. If you're a wealth managment professional and would like access to the Barron's Advisor experience, please provide the information below. If you're not a wealth management professional, you can find other great financial content at barrons.com. If you have any questions, please contact us at [email protected].
Merrill Lynch Sweetens Deal for Advisors Who Hand Off Clients to Colleagues

Aug 13, 2024 | barrons.com | Ross Snel

Merrill Lynch is sweetening the deal for financial advisors who transfer their clients to colleagues in exchange for compensation. Merrill, a full-service wealth management unit of Bank of America, operates two client-transfer programs. The first, the Client Transition Program, remunerates advisors nearing retirement for handing off all of their clients to other advisors at the firm.
Week’s Best: Janney Montgomery Scott to Get New Owner

Jul 26, 2024 | barrons.com | Ross Snel

Private-equity shop KKR has agreed to purchase Janney Montgomery Scott from The Penn Mutual Life Insurance Company. After the deal closes, Janney will operate as a stand-alone private company. The Philadelphia-based regional brokerage firm, which traces its roots to 1832, has more than 900 financial advisors. KKR is among the private-equity players that have been drawn to invest in the wealth management industry in recent years. In other most-read wealth management articles this week: ...
LPL Financial’s New Private Wealth Unit Signs Its First Team, With Merrill Recruits

May 21, 2024 | barrons.com | Ross Snel

A Merrill Lynch financial advisor team has become the first to join LPL Financial’s Private Wealth Management unit, which launched in November, LPL said Tuesday.Based in Oklahoma City, the team oversaw about $705 million in assets at Merrill Lynch and consists of financial advisors Alain Verhille and James S. Wood, according to LPL. It also includes Erikka Moore and Kathy Isernhagen, who have the Certified Senior Advisor credential for professionals working with older adults.
Week’s Best: JPMorgan Hires $28 Billion Merrill Lynch Team

May 17, 2024 | barrons.com | Ross Snel

Talk about a recruiting win. JPMorgan Chase’s wealth management unit recently lured away a Merrill Lynch team that oversaw $28 billion in advisor assets and generated about $10 million in annual revenue. Based in Los Angeles, the Gray-Polverini team specializes in serving the ultrawealthy. One of its leaders, Eric Gray, is a Barron’s Hall of Fame advisor and ranked 48th on our 2024 list of America’s Top 100 advisors. In other most-read wealth management articles this week:...
Week’s Best: Advisors Prepare for Trump Tax Cuts to Sunset

Apr 19, 2024 | barrons.com | Ross Snel

The 2017 Tax Cuts and Jobs Act transformed the tax code, but some of its provisions are set to expire by the end of 2025 unless Congress takes action. Among them is the expansion of the estate and gift tax exemption. For our latest Barron’s Advisor Big Q, we asked advisors how they’re helping rich clients prepare for these potential changes. Some are urging clients to act thoughtfully in taking advantage of the expanded exemption, because rash moves ahead of tax changes can result in mistakes.
Raymond James Hires $1.1 Billion Arizona Advisor Team From RBC

Apr 1, 2024 | barrons.com | Ross Snel

Raymond James Financial has recruited a 10-person wealth management team in Arizona that previously managed more than $1.1 billion in client assets at rival brokerage firm RBC Wealth Management. The team, called the Pahnke Wealth Management Group of Raymond James, is based in Scottsdale and includes financial advisors Glenn Pahnke, Ted Churchill, and Austin Pahnke, according to a news release announcing their hiring.
Merit Financial Advisors Launches Independent Affiliation Model

Feb 22, 2024 | barrons.com | Ross Snel

Fast-growing wealth management firm Merit Financial Advisors is formally launching an independent affiliation model for financial advisors. The model, called Merit Amplify, will allow advisors to retain ownership of their practices while relying on Merit for assistance with investment management, technology, compliance, and succession planning. Advisors working with Amplify will serve as 1099 independent contractors of Merit instead of W-2 employees.
LPL Financial Expands Services for Advisors Who Serve High-Net-Worth Clients

Feb 21, 2024 | barrons.com | Ross Snel

LPL Financial is expanding the services it offers to its financial advisors to help them serve wealthy clients. The San Diego-based company said this week that its high-net-worth services now include advanced financial planning, estate and philanthropic planning, and customized portfolio construction, among other offerings. Those services are in addition to tax planning, which LPL announced in October.
Focus Financial Partners Taps Mitch Kovitz, Michael Nathanson for Executive Roles

Jan 29, 2024 | barrons.com | Ross Snel

Focus Financial Partners, a network of independent wealth management firms, announced two top executive appointments Monday as the once-public company forges a new path under new private-equity owners. The New York-based company said that effective immediately, Mitch Kovitz would assume the role of vice chairman.