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00:54
Merrill Lynch Team of Advisors Join LPL
A team reportedly managing $650 million in assets is leaving Merrill Lynch and launching a new firm with LPL Financial. According to the release, the four advisors will leverage LPL’s broker-dealer, corporate RIA and custodial platforms, and the Strategic Wealth Services model. Their independent practice called NorthEnd Private Wealth will be headquartered in Greenville, South Carolina.
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00:54
#1 RIA Valued at $7.3 Billion in Investment from PE Firm Warburg Pincus
The #1 independent advisory firm in the country just announced has a new investment from Warburg Pincus. The PE firm is acquiring minority ownership and joining the board of Edelman Financial Engines, which manages $260 in assets. According to the release, this strategic investment values the nation's top RIA at $7.3 billion and is expected to close in the second quarter of this year.
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01:04
Former White House Economic Director Larry Kudlow to Join $2.6 Billion RIA
Former White House Economic Director Larry Kudlow is joining The Bahnsen Group, a bicoastal $2.6 billion wealth management firm. As part of his new role as economic advisor, Kudlow will participate in client events and advise The Bahnsen Group’s investment committee. CIO David Bahnsen said in the release “Larry has been a mentor to me for many years, both personally and professionally. We both share a love of free markets."
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00:53
Mercer Global Advisors Acquires $815 million Atlanta RIA
One of the largest financial planning firms in the country managing nearly $25 billion is expanding its footprint in Georgia. Mercer Global Advisors is buying Atlanta Financial Associates. AFA is a woman led and founded RIA that has about 570 clients and $815 million in assets under management.
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01:10
$2 Billion Advisors from Morgan Stanley Move to LPL Affiliate
A $2 billion team from Morgan Stanley is heading to LPL affiliate Gladstone Wealth Partners. John Gallagher and Mark Levin are setting up a new office in Marlton, NJ. The advisors said in the press release that they chose the name cfor the new firm because Maverick means "independent-minded."
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01:04
LPL Recruits $1 Billion Team from Omaha
LPL Financial just picked up a $1 billion team from Omaha. Tagge Rutherford Financial Group is leaving Cetera to join LPL Financial’s broker-dealer and corporate RIA platforms. Executive Monte Peterson said in the release, "we recognized a need for a change—one that impacts clients positively and creates more office efficiencies."
