The transaction is being referred to as a “resecuritization” in deal documents seen by Bloomberg.

The move is the culmination of an 18-month courtship.

The four advisors are joining Pinnacle Financial Partners, which is affiliated with the large broker/dealer, and will serve clients in states that include Virginia, Georgia and the Carolinas.

The Fed confronts how to balance very low interest rates with the risk of asset bubbles, according to the Wall Street Journal. There’s a homelessness crisis brewing among elderly Americans, reports The New York Times. These are among today’s must...

It could take five years for employees to return to the office in numbers that match the past, reports CNBC. Many U.S. commercial properties have lost 25 percent or more of their value, according to PYMNT.com. These are among today’s must reads...

The lending market “is not cautiously pessimistic, it’s not cautiously optimistic. It’s just in a quiet place where it doesn’t know which direction to go,” says one source.

With commercial vacancies rising and rents falling, there is a question of whether the banks have set aside enough money for CRE losses.

The bond’s performance shows how rapidly the pandemic is deepening losses in a sector.

While some firms slowed growth during the pandemic, RBC's head of recruitment, Kristen Kimmell, landed billions in assets with a net gain in advisors this year that topped rivals.

Since March, Concurrent has recruited eight teams of advisors, giving it now more than $8.3 billion in assets under management.