Raymond James has long been a reputable player in the wealth management industry, known for its strong culture and client-centric approach. However, in recent years, a growing number of advisors have chosen to leave Raymond James in favor of supported independent platforms. This trend reflects a broader shift within the industry, as advisors seek more…
We all know that there is always some measured leap of faith and a confidence in their future that advisors must own when pivoting from what they have been used to for many years, sometimes a lifetime, to somewhere new. This is more notable when a private banker looks to switch from the security of…
The rapid growth of AI, particularly generative AI models like ChatGPT, is reshaping various sectors. ChatGPT, which achieved 100 million users within two months of its launch, is one of the fastest-growing consumer applications in history. This unprecedented adoption underscores AI’s transformative potential across industries, including financial advisory. The best way advisors can capitalize on…
Understanding communications and signals has become something important for us all to understand in day to day living, in dealing with media, and now in our own jobs. In this article, we focus on what leadership at Merrill Lynch has been saying under the umbrella of Bank of America and Brian Moynihan. Before we do,…
Milligan, a former broker with over two decades at Merrill Lynch, alleges that the firm illegally withheld $500,000 of his deferred compensation after he left to join an independent broker-dealer. Central to the lawsuit is the argument that Merrill Lynch’s deferred compensation plan should be governed by the Employee Retirement Income Security Act of 1974 (ERISA), which includes provisions against such forfeiture. This case highlights a significant tension in the financial sector between employer compensation strategies and the rights of employees under federal law.
Rockefeller Capital Management (RCM) has established itself as a premier financial services provider, seamlessly blending the historic success of the Rockefeller family with forward-looking, innovative strategies. Offering unparalleled access to wealth management, asset management, and investment solutions, RCM invites high-net-worth individuals and institutions to explore opportunities that are rooted in legacy and driven by cutting-edge…
Life is a constant juggling act for advisors between managing clients, a book of business, and firm needs that there often isn’t time to evaluate next generation (or succession) planning. Today, however, planning ahead is top of mind for advisors for a variety of important reasons with mounting interest in determining if being an employee…
Seventy2 Capital is a runaway success story on Wall Street; it is a tale of transformation from a modest $3 million team to a juggernaut commanding $75 million in a mere five years. But how did this remarkable metamorphosis unfold? The journey began with a bold departure from big bureaucratic banks like Merrill/Bank of America…
LOS ANGELES, March 22, 2024 /PRNewswire/ — Roger Gershman of The Gershman Group who is known to represent the who’s-who of elite advisors for both banks and independents believes LPL’s launch of its PWM platform will change the competitive playing field for the next generation of top advisors. We embrace this launch and we expect many advisors we represent will feel the…
In recent years, the financial services industry has witnessed a notable trend – a significant exodus of both senior management executives and financial advisors from big wirehouse firms to establish or join independent Registered Investment Advisor (RIA) firms. The moves have been significant and seem to buck a trend of consolidation in the wirehouse space…