WealthManagment.com Daily Memo
Wealth Management Daily Memo

FEBRUARY 23, 2021

PEOPLE

Altruist Hires TDAI Alum Pete Dorsey

Dorsey will bring deep ties to the RIA space as Altruist's new chief strategy and revenue officer, responsible for the business growth and client support.

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REGULATION AND COMPLIANCE

Court Sentences Texas Man to Five Years for Ponzi-like Scheme

Jose Anibal Linares defrauded investors out of about $2 million, according to the Justice Department.

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INDUSTRY

Wells Fargo Sheds Its Asset Manager as Scharf Reshapes Bank

GTCR LLC and Reverence Capital Partners agreed to buy Wells Fargo Asset Management for $2.1 billion.

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MUTUAL FUNDS

Mutual Fund Locks Out Founder After SEC Questions Swaps Pricing

Infinity Q Capital Management announced it’s shutting a $1.8 billion mutual fund and that it placed James Velissaris on leave, cutting off his access to accounts and trading while hiring an expert to value holdings.

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Wealthies Circle Spotlight

Five Generations of Wealth

See why it is critical to build relationships and connect with all generations of wealth.

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WEALTHIES CIRCLE PODCAST

How Thrivent Is Building a Community of Advisors

Thrivent's Luke Winskowski discusses the work the firm is doing to bring together advisors and provide them with the tools they need.

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