AdvisorHub News of the Week - 10/11/2019
A team of four advisors and four associates bringing in about $6 million of annual revenue at a UBS Wealth Management office in New Albany, Ohio, just left for Morgan Stanley. High-income millennials are still worried about having enough money for retirement, according to a new report by the Spectrum Group. RBC Wealth Management-U.S. and Ameriprise Financial continue to pull from their larger rivals. To learn more about these stories visit www.AdvisorHub.com for the full length reports from Mason Braswell, Jed Horowitz and the AdvisorHub team.
Goldman Sachs: We're Not Close to a Recession
Weak manufacturing data has reignited recession fears for some investors, but Goldman Sachs thinks data could start to stabilize, if not improve, somewhat soon. Chief Global Equity Strategist Peter Oppenheimer just published a note on why he thinks this extremely long economic cycle stretch on and get even longer.
$24 Billion Moneta Group Announces First RIA Deal in Denver
$24 billion Moneta Group is merging with Denver-based Dunston Financial Group, which is fee-only and has more than $20 billion in assets under management. Envestnet MoneyGuide is giving advisors a new tool to use on its MyBlocks digital financial planning education platform. $4.6 billion wealth management firm The Mather Group just acquired RPH Financial Services, which manages $168 million and specializes in serving corporate execs in the pharmaceutical sector.
AdvisorHub News of the Week - 9/27/2019
Ameriprise Financial and Raymond James Financial are attracting million-dollar teams from wirehouses that have curbed their hiring appetites. Family offices for some of the world’s wealthiest are increasing cash reserves and 55% believe the economy is headed for a recession by 2020, according to the 2019 UBS Global Family Office Report. Morgan Stanley has reached into rival UBS Wealth Management’s talent base, hiring a duo in Houston for its private wealth unit and a broker in Long Island managing $215 million. To learn more about these stories visit www.AdvisorHub.com for the full length reports from Mason Braswell, Jed Horowitz and the AdvisorHub team.
Glass Malek to Join The Colony Group
Glass Malek will join Focus Financial Partners firm The Colony Group. Fidelity Investments announced a new partnership with Ethic. Mariner Wealth Advisors acquired Snow Creek Wealth Management.
$130 million Advisor Joins Sanctuary Wealth
A $130 million advisor and gender equality leader Adrianne Yamaki is joining Sanctuary Wealth. Rockefeller Capital Management says it has now reached an agreement to acquire Financial Clarity in Silicon Valley. The United States is the winner of a new Morningstar study grading 26 countries on their fund fees.
AdvisorHub News of the Week - 9/20/2019
Rockefeller Capital Management will acquire Financial Clarity - a multi-family office in Silicon Valley. Morgan Stanley is making seismic moves in the New England region. Oak Hill Capital is buying a stake in Mercer Advisors. To learn more about these stories visit www.AdvisorHub.com for the full length reports from Mason Braswell, Jed Horowitz and the AdvisorHub team.
Homebuilders Happy & Buyer Demand Up
Oil markets face volatility in the aftermath of the Saudi oil attack that cut production there in half. Sentiment from the National Association of Homebuilders beat expectations, and buyer demand was 67% higher than the same period one year ago.
Bahnsen Group Buys G3 Advisors
The Bahnsen Group purchased a HighTower Advisors network firm, G3 Advisors. Snowden Lane Partners added a duo of advisors to its office in the Miami area. TruClarity is launching its own in-house RIA for breakaway advisors.
AdvisorHub News of the Week - 9/13/2019
The number of RIAs Grew 3.3% last year, bringing the number of SEC-registered investment advisers to 12,993. Stifel Financial hired a celebrity-client broker in L.A. with a wirehouse past. Morgan Stanley Wealth Management is eying $4 trillion in client assets held away. To learn more about these stories visit www.AdvisorHub.com for the full length reports from Mason Braswell, Jed Horowitz and the AdvisorHub team.
Small-Cap Stocks Staging a Comeback!
The Russell 2,000 started the first half of the week in the green, rallying much more than the S&P 500 which was relatively flat. Turning to eco data, a key measure of labor demand fell for the second month in a row. The Fed will also be watching inflation data coming out ahead of the September rate decision.
AdvisorHub News of the Week - 9/6/2019
Morgan Stanley hired a complex manager from Wells Fargo Advisors, UBS Wealth Management USA hired a team of Merrill Lynch brokers, and a Morgan Stanley Wealth Management team has joined Rockefeller Capital Management. To learn more about these stories visit www.AdvisorHub.com for the full length reports from Mason Braswell, Jed Horowitz and the AdvisorHub team.