Originally, Old Mutual purchased a group of U.S. investment managers in 2000, including Pilgrim Baxter. The firm, known for its aggressive growth funds, was then a symbol of mutual funds' success in the bull market of the 1990s. But the 2003 lawsuit filed by the
Most financial advisors and their clients are well aware of the in-progress great wealth transfer. But they also admit they're not ready for it.
The LPL–Commonwealth megadeal set off a two-sided scramble. As LPL fought to retain advisors and assets, rivals raced to poach both.
Andy Leung's targeted approach to finding clients on LinkedIn is bringing in warm and even hot prospects at high rates as he builds his niche.
A proposed Labor Department rule could ease the path for alternative investments in 401(k)s, but advisors may face new due diligence and communication challenges.
Recent studies have shown that clients and prospects want human authenticity, even as AI tools become more prevalent in firms' workflows.
Financial advisors and estate planning attorneys say arrangements can be as simple or complex as clients want them to be, but pet trusts are often the best option.
