Exodus continues at SVB's private wealth division, with advisors most recently jumping to RIAs F.L.Putnam Investment Management, Cynosure Management and Cerity, according to SEC records.
The Todd Halbrook and Adam MacDonald Management Group in Newport Beach, Calif., is departing First Republic a little more than a month after some regional banks collapsed.
Barry Friedberg, co-chairman of New York Private Bank & Trust, Emigrant Partners’ parent company, will assume Heckenberg’s responsibilities on an interim basis.
The natural order is being tested in the wealth management industry, and it will be some time before we see who the real winners and losers are.
The departure was announced alongside Nuveen’s settlement of a years-long legal battle with Preston Hollow Community Capital.
The platform now features 1,181 strategies from 290 asset management firms, according to the company.
Nexus Strategy's Tim Welsh describes the subtle yet dramatic changes happening in the independent wealth space that will shape the industry going forward.
