Pro-bono law clinics for small clients and low-value claims help keep the brokerage industry honest. But funding has run out, and they are getting harder to find.
Robert DeChellis and Frank Porcelli have launched Bonsai to focus on an asset/liability approach and broader access to insurance, annuities and business valuation tools; execs plan to start with a handful of acquisitions of sub–$1 billion firms.
Former Abbot Downing President Jack Ginter leaves Wells Fargo to create Callan Family Office, an independent wealth management firm that will serve the ultrawealthy and aims to compete with the big private banks.
Traditional strongholds of wealth, such as New York and Los Angeles, are losing a segment of their HNWIs to other cities across the country and abroad.
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