Industry

For RIAs who want to ensure clients that their firm will endure to serve their children and grandchildren, a robust internal succession plan is critical. One way to do that is to eliminate outside ownership conflicts, argues the founder and CEO of one leading RIA firm.

The firm has brought on three legacy A.G. Edwards advisors from Wells Fargo to open its 27th office.

The three additions in New Jersey include a veteran financial advisor duo from Merrill Lynch and another advisor from UBS.

Focus Financial has snapped up a big Seattle wealth management firm.

Nancy Grady has joined Northern Trust as Head of Fund Administration and Fund Accounting-Americas, overseeing fund accounting, regulatory administration, financial reporting, tax and other services for registered and unregistered mutual fund products.

Independent Financial Partners, a Tampa, Fla., based registered investment advisory firm, has launched IFP Insurance Group.

Raymond James Financial Services, the company’s independent broker-dealer, announced Monday it has added a mother-daughter team in Bethesda, Md., with $200 million in assets.

Michael Mauboussin, chief investment strategist at the Legg Mason Inc. unit that’s home to Bill Miller, left the firm last week.

Morgan Stanley financial advisor Carrie Gallaway, who ranks at Number 32 on On Wall Street’s list, says using an empathetic approach to clients was especially useful in the run-up to the fiscal cliff negotiations.

There's nothing quite like the feeling of coming out from under a guardian's wing.