Former basketball star Tim Duncan has settled his lawsuits against his former financial advisor, Charles Banks. The settlement is for $7.5 million, even though Duncan claimed Banks defrauded him out of more than $20 million. ...
The Hamster Wheel of Manager Selection Manager selection is the most commonly marketed service by financial advisors, yet is the process worth it? A recent report by Research Affiliates seeks to answer the question. Because investors tend to chase returns, “many advisors put their clients on the ‘hamster wheel’ of manager selection, continuously replacing poor performers with good performers. ... Merrill Lynch Names New Fifth Avenue Market Executive Merrill Lynch named Matt Grossman the new executive of the wirehouse's Fifth Avenue market, according to a memo reviewed by WealthManagement.com. Grossman, who started his career as a Merrill Lynch advisor 28 years ago, most recently served as the executive overseeing the brokerage's Westchester-Greenwich market. ...
