NREI Feed

The latest rumored deal by World Insurance is a sign of things to come.

The four advisors will operate as Lumina Wealth Partners at UBS out of the firm's new Los Angeles office.

What does it mean for their plans?

There's a quiet transformation happening inside advisory practices, and it has nothing to do with prospecting.

The Roseville, Calif.-based OSJ leaves LPL to launch its own RIA on Cetera's Blueprint platform.

ReN Founder and CEO Af Malhotra discusses how AI can help investment teams move beyond backward-looking analysis to uncover hidden portfolio risks in real time.

The SEC worked with an FBI task force to identify and remove filings of 38 foreign “entities” allegedly posing as legitimate advisory firms.

The former LPL Financial and Altruist executive will lead revenue strategy for the asset manager's custody and clearing business as it expands into wealth services.

With its acquisition of Altruist, Vanguard just bought its way into a fight it used to sit above.

Also, $111B Mercer grows its Ohio footprint through acquisition, Janney adds a $150M advisor from Wells Fargo, and Steward Partners expands credit line by group led by Blackstone.

Sayee Bellamkonda joins from Vialto Partners and will report to CEO Jamie Price. The move follows several executive departures and a $2 billion recapitalization.

What it means for advisors and the industry.

The hiring spree has helped offset the flood of departures that’s beset Wells Fargo and its peers.

Dean Dellas of Cazenovia, N.Y., manipulated client documents and impersonated investors to steal funds through unauthorized withdrawals and excessive advisor fees over a two-year period.

In other advisor tech news, Morningstar and PitchBook sign a deal with Google’s Gemini for information sharing, AssetMark launches Talk Tracks to convert portfolio data into client discussion, and WealthReach and VastAdvisor partner to convert user search into marketing outreach.

The firm alleges Christopher Lee violated a court order by soliciting clients after moving to Morgan Stanley, with $375 million in assets transferred post-restraining order.

In the meantime, Vanguard’s $4.6 billion outlay for Altruist and push into the advisor space may put the investment giant at odds with some of its own clients, according to analysts.

The fight for control raises bigger questions about succession planning.

Where do we go from here?

The scope of IRC Section 6034 is narrowed under certain circumstances.