According to Mark Pennington, the departments director, the $440 billion that the SMA industry has amassed as of June 2003 is just about where the mutual fund industry was in 1986. Despite the name change, strategies and other orders of business will remain the same for Lord Abbett, a 13-year-old Jersey City, N.J., firm that has gone from $3 billion to $15 billion in assets over the past three years.
Gryphon Wealth will keep Wells Fargo Clearing Services as its custodian in a deal that brings in tech support from TradePMR, a firm acquired by Robinhood in 2024.
If wealth management clients have children who are recent college graduates, pointing them in the right direction on their first 401(k)s helps build strong connections with two generations.
Subscribers to Financial Planning can earn one continuing education credit toward recertification by successfully completing the 10-question quiz.
Even if they must refer wealth families to a tax professional for a generation-skipping or dynasty trust, financial advisors can play a valuable role.
Jim Gold of Steward Partners thinks impending advisor retirements will continue driving smaller RIAs into M&A deals with big acquirers — even as AI turns many investors into "do-it-yourselfers."
Justin Brownlee started an RIA targeting energy, oil and gas employees. His hyperspecific marketing tactics have helped grow the firm into a thriving niche.
