Industry

Nicholas Schorsch has resigned from RCS Capital, New York REIT and 11 other non-traded real estate investment trusts and direct investment programs sponsored by AR Capital.

The Bogart Group was previously with RBC Wealth Management-U.S., managing client assets of more than $600 million.

Winthrop H. Smith Jr., son of Merrill Lynch pioneer Win Smith, gives his take on "Mother Merrill," and how the firm's old culture impacts the present.

"He called for the male clients, I called for the females," says ex-assistant, who says she knew phone calls to liquidate client assets after a B-D change were wrong.

Ameriprise advisor Joe De Sena explains how getting involved in a charity changed his practice. "It's about making contributions to their lives in a way that has almost nothing to do with the money."

For buyers, the cost of funds is low now. For sellers, valuations are rich. Cashing out now is an “easy case to make," says AssetMark EVP Michael Abelson. "Or they can keep riding the wave."

BlackRock, Macquarie Group and Millennium Capital Management former employees are planning a Hong Kong-based hedge fund which will use computer models to spot trading opportunities in 13 Asian stock markets.

The wirehouse recruited advisors from rivals Merrill Lynch and UBS.

Merrill's newest recruit managed more than $185 million in client assets while at UBS.

Janus shares surged 43% on Sept. 26, their biggest one-day gain ever, after it announced that Bill Gross would join the firm from Pimco. Hiring Gross was the boldest step yet in an almost five-year effort by Richard M. Weil to attract new money and change the public perception of Janus, a firm still known primarily for its growth-equity funds.