Morning Memo
 
Wealth Management Morning Memo

MAY 4, 2024

REGULATION AND COMPLIANCE

FTC Non-Compete Ban Could Impact Wirehouses and Banks More Than RIAs

The Federal Trade Commission’s move to outlaw these clauses in contracts could affect millions of Americans. But litigation against the ban is already in motion.

RELATED:
The Diamond Podcast for Financial Advisors: How the FTC’s Rule on Non-Competes May Impact Advisors
CEO: FTC Right to Ban Non-Compete Agreements

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INDUSTRY

LPL Signs First Succession Deal With External Practice

The IBD has deployed about $400 million in capital across 27 deals since launching the liquidity and succession program.

FULL ARTICLE

WEBINAR

Structured Protection ETFs™: Gain Greater Risk Control Over Equity Markets

Join us on May 16, to discover how Calamos Capital Protected ETFs™ are reshaping investment strategies with complete protection and growth potential in major equity markets.

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INDUSTRY

$860M Texas Team Leaves Lincoln for LPL as Osaic Acquisition Nears Closing

Advisor Ryan Rayburn decided to look for a new broker/dealer when Osaic announced its acquisition of Lincoln.

FULL ARTICLE

The Life Arc of a Philanthropist

Seven stages of a life of giving.

FULL ARTICLE

ETFS

Why Non-Transparent ETFs Failed to Impress Investors

Non-transparent, actively managed ETFs have garnered some inflows since their inception, but they trail far behind transparent vehicles.

FULL ARTICLE

ETFS

What Happens If Mutual Funds Can Also Trade as ETFs?

If the SEC approves mutual fund/ETF dual shares, it might bring a big pivot for the RIA industry.

FULL ARTICLE

INDUSTRY

Former Ameriprise Rep Sentenced To 5 Years in Prison For $1.2M Fraud

Dusty Sternadel pleaded guilty to wire fraud in January in connection with a scheme that stole from at least 10 clients, most of whom were elderly, according to the DOJ.

FULL ARTICLE

ESTATE PLANNING

IRS Form W-9 Changes and Their Impact on Trusts and Estates

Refiling may be necessary under certain circumstances.

FULL ARTICLE

RIA NEWS

Sanctuary Wealth Acquires Tru Independence

Tru will operate as a separate entity from Sanctuary, maintaining its brand and leadership team.

FULL ARTICLE

RIA NEWS

BIP Wealth Acquires Georgia Firm, Tops $3.3B in AUM

The Atlanta-based RIA will acquire the $300 million AUM Money Advisor Group.

FULL ARTICLE

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