Focus Financial Partners, which recently completed a $50 million recapitalization to meet debt obligations and revive its business of buying interests in wealth management firms, confirmed today that it has made LLBH Private Wealth Management a full partner firm. As a partner, LLBH gets a combination of cash and equity units in Focus in exchange for giving the parent company a preferential interest in a portion of its annual revenue.
Focus Financial Partners LLC, which calls itself “the leading partnership of independent wealth management firms,” confirmed Monday that it is buying a stake in Joel Isaacson & Co. Inc.
Moneta Group, a large financial planning and retirement benefits firm, has hired a team of A.G. Edwards Inc. veterans who last year produced around $1.3 million in revenue and managed about $300 million of client assets.
It would seem to be an obvious conflict of interest for a Wall Street firm to create an investment product, sell it to its clients and then bet that the product would fail.
“Headline risk” associated with municipal bonds went up today when the U.S. Census Bureau released data that state government tax collections totaled $715.2 billion in fiscal year 2009. That's a decrease of nearly $67 billion (8.6%) from fiscal 2008.
Poor Goldman Sachs. The Wall Street firm that's printing money mere months after exiting the federal bank-bailout straitjacket can do no right.
Exchange-traded funds potentially make it easier for financial advisers to build a well-diversified portfolio that limits volatility by spreading risk. But the proliferation of more exotic ETFs — particularly leveraged and inverse ETFs — could blunt their diversification potential.
A federal judge in Florida has refused to dismiss charges of illegal document shredding against two former employees of disgraced financier Allen Stanford.
Credit Suisse Group posted a fourth-quarter net profit of 793 million Swiss francs ($746 million) on Thursday, blaming writedowns and a hefty U.S. legal settlement for failing to meet expectations.
U.S. clients with more than 1 million Swiss Francs in offshore accounts with UBS could be ratted out.
Here are some solutions for 2010 that we hope our politicians, regulators and financial wizards have made.
But use of commodities and absolute-return strategies appears to be universal, according to a survey from Rydex Distributors
It's been a long, dry spell for many of the suit-clad Wall Streeters who were handed their pink slips before hardly anyone was talking recovery. But sit down with a handful of ex-finance industry workers volunteering to work for free as interns in a city-sponsored retraining program, and they seem almost ... happy.
It appears likely that Congress will punish the Federal Reserve for its role in the financial crisis by taking away some of its independence and responsibilities. The legislators are scapegoating.
Administration officials and members of Congress fret that banks aren't lending enough, and that companies aren't hiring enough, to reduce unemployment significantly and get the economy moving again.
Strategic Point Investment Advisors LLC, a wealth management firm that was one of the original affiliates of Focus Financial Partners, has sued the company to get access to its financial data.
Stonegate Wealth Management LLC and Family Financial Research LLC announced yesterday that they have joined forces.
ING today stepped up its multicultural outreach efforts by hiring a slate of new executives hailing from Latin America.
