Industry

Aberdeen Asset Management is mourning the loss of Andrew McMenigall, a senior investment manager in the global equity team based in Edinburgh, Scotland and Toby Wallace, a senior relationship manager in its Philadelphia office, who were yesterday involved in a fatal cycling accident in Cornwall, England.

Independence is more than just a transition; it’s a transformation, an opportunity to own what you’ve created and a legacy you can pass on. Shirl Penney of Dynasty Financial offers his roadmap to RIAs and breakaway brokers.

A trio of advisors from Wells Fargo, RBC and Morgan Stanley have joined Stifel.

Acquisitions are on the mind ofJeff Montgomery, who took over the helm of AFAM Capital at the height of the financial crisis in 2008.

Just days after luring another Morgan Stanley advisor, Stifel announced the hiring of longtime Morgan Stanley veteran Richard Linnihan.

Larkspur, Calif.-based Litman Gregory Asset Management has hired Meredith Shuey Etherington as senior investment advisor, providing investment advisory services to individuals, family groups, foundations, and endowments.

Asset management deal activity rose during the first four months of 2013 over the same period in 2012, according to a new report by Freeman & Co.

The Securities and Exchange Commission has named Julie Riewe and Marshall Sprung as co-chiefs of the Division of Enforcement’s Asset Management Unit, a national specialized unit that focuses on misconduct by investment advisers, investment companies, and private funds.

Timothy Throckmorton will oversee and help grow the personal trust and estate administration business.

Wedbush picked up a legacy Morgan Keegan advisor in Texas.