'I think in the wealth and asset management spaces internationally, we punch below our weight,' Chairman and CEO James Gorman said during the firm's conference call to discuss first-quarter earnings.
The bank's wealth management group, a destination for wirehouse brokers for the past decade, has recruited three teams so far in 2022.
Fairfax, Virginia-based Integrated Financial Partners acquired Wagner Resources Group, an RIA based in McLean, Virginia.
Net proceeds of the Newark, New Jersey, land deal will benefit investors in one private placement, GPB Cold Storage.
In its appeal, the firm argues that the judge was wrong and that the arbitration decision it had initially won against a client should stand.
The agency said Boca Raton, Florida-based National Securities deceived investors in December 2017 and January 2018 about the price of shares in the private placement offering.
Shares of the beleaguered alternative investment manager hit a new low of $1.78 in trading Thursday morning.
The broker, Marianne O'Shee Smith, a 34-year veteran of the securities industry, used $45,100 she had received from three customers, all senior citizens.
Over the first three months of 2022, the RIA aggregator announced six acquisitions of wealth management firms with close to $5.7 billion in AUM.
Investors in the $1.6 billion of bonds issued by GWG face dire consequence if the alternative asset manager files for bankruptcy.
