The former Merrill Lynch team, led by advisor Lars Olson, wanted to stay in Marion, Ohio, to be part of the town’s revitalization, so they decided to go independent with Sanctuary Wealth.

Signature Bank, the New York lender that’s long catered to the Trump family, also is closing two personal accounts in which the president held about $5.3 million.

According to the commission, the duo claimed a "spiritual revelation" had yielded an algorithm for a high-yielding trading platform, but they were just two con men who met in prison.

Thrivent also promoted Luke Winskowski, current head of Thrivent Advisor Network, to lead the group's new advice and wealth management division.

Private equity funds have been among the most active buyers in recent months.

Joey Stemmle helped start a student chapter at Virginia Commonwealth University before ascending to his current leadership role.

Here are the breakaways, mergers and acquisitions announced the week of January 4, 2021.