Morning Memo
 
Wealth Management Morning Memo

APRIL 6, 2024

HIGH NET WORTH

Six Steps to Avoid Family Collapse During Sudden Change

Don’t let the business unravel if the founder is silenced by illness or death.

FULL ARTICLE

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REGULATION AND COMPLIANCE

Commonwealth Ordered To Pay $93M In SEC Share Class Case

The court ruling concludes a legal fight with the commission that started in 2019.

FULL ARTICLE

WHITE PAPER

The Advisor Growth Guide

Win back time, overcome challenges, and scale your business.

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RIA NEWS

Hightower Names Gurinder Ahluwalia as President

Ahluwalia, an executive at Hightower's private equity investor Thomas H. Lee Partners, will serve as president, while Bob Oros continues in his role as chairman and CEO of the company.

FULL ARTICLE

INDUSTRY

Morgan Stanley: Former Rep Broke Non-Solicitation Vows After Joining Wells Fargo

The wirehouse filed a suit against Gregory Chevrier, claiming he was draining revenue going to the widow of a Morgan Stanley advisor by luring clients away.

FULL ARTICLE

ETFS

Buffer ETFs May Protect Investors from Outsized Losses. That Comes with a Cost.

Inattentive use of these products risks exposing clients to losses and missed returns.

FULL ARTICLE

RIA NEWS

$500M Merrill Team Breaks Away to Launch North Carolina RIA

The Pines Wealth Management will custody with Schwab and use Purshe Kaplan Sterling Investments for brokerage business.

FULL ARTICLE

RIA NEWS

Kovitz Adds $3.5B Firm, Creative Planning Picks Up $1.8B in AUM

Focus "hub” firm Kovitz is buying a partner affiliate in Chicago, while Creative Planning scoops up a Texas team.

FULL ARTICLE

REGULATION AND COMPLIANCE

RIA Senvest To Pay $6.5M for Text Message Record-Keeping Failures

Firm employees sent and received “thousands” of off-channel business-related messages during the time in question, according to the SEC.

FULL ARTICLE

ETFS

ETFs with the Best Three-Year Returns

Oil, gas and energy ETFs posted the best returns over the last three years.

FULL ARTICLE

RIA NEWS

Sanctuary Adds $700M Breakaway from Merrill Lynch

Vincita Investment Partners is the latest firm to join Sanctuary’s “partnered independence” model.

RELATED:  Sanctuary Adds Former Pershing, Wells Fargo Execs to Leadership Team

FULL ARTICLE

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