Morning Memo
 
Wealth Management Morning Memo

APRIL 29, 2023

HIGH NET WORTH

New Study Exposes Ultra-High-Net-Worth Families’ Vulnerabilities

Risks include reputation management, personal threat assessments and emergency preparedness for natural disasters.

FULL ARTICLE

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INDUSTRY

Advisor Who Joined First Republic Last Month Returns to Morgan Stanley

Advisor J.P. Garofalo left Morgan Stanley as part of a six-person team overseeing $1.2 billion in early March for the now-troubled First Republic. He returned to the wirehouse this week.

FULL ARTICLE

WMIQ EXCLUSIVE RESEARCH

How Next-Gen Advisors are Transforming the Wealth Management Landscape

As the Wealth Management industry rapidly changes, a new breed of advisor is emerging – the Next-Gen Advisor.

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INDUSTRY

Advisor Group to Unify Broker/Dealers Under New Brand

Advisor Group will merge its eight broker/dealers onto one platform, under a new name, in an effort to reduce complexity, streamline around business channels, and unlock the benefits of its size and scale.

FULL ARTICLE

TECHNOLOGY

The Financial Industry’s 10 Most-Common Passwords

A new analysis by password manager NordPass stresses that major companies open themselves up to security risks by using passwords that lack creativity.

FULL ARTICLE

WHITE PAPER

The Cost of Being Too Liquid

Why advisors should consider developing an “illiquidity bucket.”

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INDUSTRY

First Republic Retains Nearly 90% of Wealth Advisors

Despite some high-profile departures, the bank says the exiting teams accounted for less than 20% of total wealth management assets.

FULL ARTICLE

INDUSTRY

RBC Adds Two More First Republic Advisors With $555M in Assets

Brian Addington and Theresa Allen will join California-based branches, and are the latest advisors to depart First Republic after the banking turmoil earlier this year.

FULL ARTICLE

SPONSORED WEBINAR

Going Global with Equities: The Balanced Approach

Join on May 11th for a comprehensive assessment of how to assist clients when investing in international, global equities and finding potential solutions despite these new challenges and realities.

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RIA NEWS

Texas Trio Launches RIA With 'Precedent'-Setting Profit-Sharing Program

Firm namesakes have left Linscomb & Williams to start an 'aspirational' RIA that shares profits with clients.

FULL ARTICLE

RIA NEWS

Modern Wealth Management Buys $1.5B Barber Financial Group

Barber represents the first acquisition for Modern, a new RIA established this month by former Goldman Sachs and United Capital executives with private equity backing.

FULL ARTICLE

EQUITIES

ESG Advocates Are to Blame for Backlash: Damodaran

At the Morningstar Investment Conference on Tuesday, the NYU professor said legislators and regulators should take responsibility for the ills that ESG investors seek to remedy.

FULL ARTICLE

ESTATE PLANNING

Tax Experts Discuss Estate-Planning Considerations for Financial Advisors

An overview of some of the important estate-planning proposals included in the 2024 Green Book.

FULL ARTICLE

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