Lord Abbett announced Monday that Robert Morris, its chief investment officer for the past two years and a 16-year veteran of the firm, will retire by the end of this month. Morris joined the firm in 1991 as director of equity research and was then promoted to director of equity investments.
Morris is largely credited with boosting the firm’s assets; they stood at $5.1 billion in 1991 and are more than $112 billion today.
Replacing Morris will be Managing Partner Robert Dow.
Advisor360° names former MassMutual exec Mike Fanning as its new CEO
Caz Craffy admitted to taking nearly $10 million entrusted to him by Gold Star families and using it for excessive trades through outside brokerage firms.
The number of experienced financial advisor recruits fell in the first quarter, but Ameriprise's overall headcount and its profits are on the rise.
Opponents haven't stated publicly that they will file a lawsuit, but one will almost certainly challenge the Biden administration's expansion of the fiduciary duty.
Few U.S. adults have done any estate planning. Even fewer have done so for their pets. Advisors can help them get started.
Fidelity launched a new hub aimed at helping advisors who said they're struggling to grow organically. The move comes as LPL Financial and BlackRock launched similar hubs this year.
