Cynthia Fernandez

David DeVoe, founder and CEO of DeVoe and Company, says Mariner's acquisition of Allegiant is likely the beginning of its next phase of momentum with RIA transactions, following the investment of its new PE partner earlier this year.

Sanctuary also failed to review outside business activities of certain representatives and did not terminate a securities offering that failed to meet the minimum contingency requirement, FINRA says.

The Colony Group and XML Financial Group are set to bring on an RIA and a wealth management practice, respectively, in the third quarter of 2021. Focus also announced that Sonora Investment Management will join as a partner firm.

Bradley Bruce, a 30-year veteran, brings the 8th Texas group the firm has added.

The SEC alleged the company did not disclose its conflicts of interests related to mutual fund share classes, cash sweep arrangements, and no-transaction fee revenues, according to a recent SEC filing.

The wealth management firm has about $240 million assets under management and 220 clients.

The California team wanted to keep serving international clients after the wirehouse elected to focus on domestic wealth management.

The advisors went independent in part because Wells Fargo halted its wealth management business outside the U.S. earlier this year.

For every dollar, the median white family saves about seven cents, while the median Black family saves a penny or less. But when compared to families with the same income, the racial gap disappears.

The vision is to democratize “high-quality, personalized advice at scale, just as the independent advisor has disrupted wealth management,” the companies said in a statement.

Advisors John Gill and Bryan Horner were joined in the move by Mari Hurd, business practice coordinator, and Katie Bosler, senior registered client service associate.

The technology debuted at the annual INSITE conference reveals how the firm is looking to expand market share among advisors and fintechs.

The co-founder of Edelman Financial Services will now dedicate his energy to his recently launched RIA Digital Assets Council.

It’s unclear whether the independent firm will retain any broker-dealer or RIA affiliation with Raymond James.

This likely means an ex-diversity chief from the firm will no longer be able to testify in a class action lawsuit with similar allegations, according to a legal expert.

The custodian has 15 firms scheduled to transition before the end of this year. It hopes to migrate each of them over in less than six weeks.