Industry

On April 18, Transamerica Retirement Services appointed Darren Zino as division vice president of the company’s mid-Atlantic region, overseeing all sales activities for the region and will be based in North Carolina.

The new firm brings together the existing businesses of Saltzman Associates, Bielan Consulting and Ken Kehrer’s research and consulting expertise.

The company hired eight advisors from Morgan Stanley Smith Barney, three from UBS, thre from Bank of America Merrill Lynch, and two from RBC Capital Markets. The new hires, who collectively manage $1.1 billion in assets, were added late last month and early this month.

The chief operating officer of Guggenheim Investments and two other top executives were let go this week as part of a reorganization at the firm

A former top producer with Edward Jones, John Lindsey has begun the process of migrating to a fee-based business by partnering with Securities America branch office Cooper McManus, an RIA with more than 40 advisors.

On April 18, Russell Investments added Tom Goodwin in the newly created role of senior research director for Russell Indexes.

On April 18, Boston-based Affiliated Managers Group, Inc. (NYSE: AMG), has agreed to acquire a majority equity interest in Yacktman Asset Management Co.

The new unit will service advisors dedicated to mass-market clients, a segment the company believes does not get enough professional financial advice.

On April 18, Reuters reports that the chief operating officer of Guggenheim Investments and two other top executives were let go this week as part of a reorganization at the firm, according to three people familiar with the situation.

Schwab report finds spike in total M&A activity in the RIA sector for the first quarter, but nearly half of the $23.95 billion in total assets under management transacted across 17 deals through March 31 came from one deal.