Wealth Management Morning Memo

APRIL 6, 2021

PEOPLE

Kingswood U.S. Names Michael Nessim CEO

Asia Martin

Nessim, president of Kingswood U.S. and CEO of Kingswood's SPAC, takes over the CEO duties of Derek Bruton, who has stepped down.

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INDUSTRY

H. Beck Goes to Market With New Name, Refreshed Platform

Diana Britton

The IBD, now called Grove Point Financial, hopes a new brand, tech platform and a IAR-only business model will help ramp up recruiting.

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Historic Pattern of Mid Cap Outperformance

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Are mid caps more resilient in times of crisis?

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REGULATION AND COMPLIANCE

SEC: Indiana Man Defrauded Investors to Finance Hemp Companies

Patrick Donachie

The SEC claimed George Blankenbaker raised more than $11 million from investors, while the Justice Department also charged him with wire fraud and money laundering.

HIGH NET WORTH

Mo Money Mo Problems: Backup Planning for Bitcoin Bros

David Lesperance

The combination of zealous politicians and the IRS getting serious about collecting taxes on cryptocurrency gains means trouble for unprepared clients.

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Navigate Today’s Challenges on the Road to Independence

Sponsored by Orion Advisor Tech

COVID-19 may have derailed your best-laid breakaway plans—but that doesn’t mean you should abandon your dream of starting an RIA or joining a new one.