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Rockefeller zeroes in on Merrill Lynch, Morgan Stanley advisers According to InvestmentNews data, since Rockefeller Capital s launch in early 2018 to the end of March, the clear bulk of its hired advisers have come from CEO Greg Fleming s two former firms. May 11, 2021 3 MINS Greg Fleming’s deep ties to his former firms, Merrill Lynch and Morgan Stanley, are paying off at his latest venture, Rockefeller Capital Management, the wealth management firm he helped launch in 2018 and is the CEO. A veteran of Wall Street management, Fleming worked at Merrill Lynch, eventually becoming president, up until it was bought by Bank of America in the deepest days of the credit crisis, from 1993 to 2009. A year later he went to work for Morgan Stanley and was head of wealth and asset management before leaving in 2016, two years before the launch of Rockefeller Capital. ....
As a college student selling insurance, Andy Schwartz didn’t envision that someday he’d be at the helm of an $8B RIA but he did know he was on to something. Growing up in a lower-middle-class family in New Jersey that didn’t “have much” but worked hard for all that they did have, Andy learned early on that success isn’t necessarily about “where you go to college or where you grow up.” Andy went from selling just insurance at Northwestern Mutual to managing $3.5B in assets as the leader of one of the largest groups at the firm. After nearly three decades, he and the team left Northwestern in 2014 to go fully independent as Bleakley Financial Group. ....
Biden tax plan to 'light a fire' under red-hot market for RIA industry financial-planning.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financial-planning.com Daily Mail and Mail on Sunday newspapers.
And that word is “compliance.” Yet it’s the very fabric by which financial advisory businesses operate, serving as the proverbial guard rails that all advisors work within whether they are seated in big brokerage firms, are independent business owners or somewhere in between. But for all that power that compliance wields, it remains somewhat amorphous in terms of the actual processes around it. Because if you’re seated at a wirehouse or independent broker/dealer, compliance is managed for you. There’s no need for concern other than following the firm’s rules and coloring between the lines. But what happens if you want to build an independent firm? Who manages compliance? And what is it that even needs to be done? ....
Mindy Diamond on Independence: Why Advisors Shouldn't Go Independent wealthmanagement.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wealthmanagement.com Daily Mail and Mail on Sunday newspapers.