Clayton Ortloff, an advisor out of Midland, Texas, will join the independent broker/dealer’s model for advisors looking for more autonomy while buttressed by back office support.
The RIA said it was acquiring the two San Francisco-based teams. This follows last week’s announcements that multi-billion-dollar former First Republic teams had joined Merrill Lynch and Citizens Bank.
Private equity participation picked up after a 2023 dip, five deals involving over $20 billion in assets were announced and a couple of new names appeared on the list of top buyers.
Caz Craffy faces 20 years in prison for using his position as an Army Financial Counselor to invest survivors’ benefits in firms where he worked, according to the DOJ.