The Securities Industry and Financial Markets Association filed a lawsuit against the regulation that took effect last year, saying there was “no precedent for it in the securities laws.”
Morgan Stanley CEO Ted Pick said fee-based flows remained a “growth space” for the business, while Merrill CFO Alastair Borthwick said high asset management fees offset the NII dip.
The number of registered firms hit an all-time high of 15,396, according to an annual snapshot co-created by the Investment Adviser Association and COMPLY.
The move from the trio of advisors in Ocala, Fla. comes several months after a $450 million team made a similar jump from the wirehouse to Raymond James.
CIM Group Principal Emily Vande Krol discusses the firm’s tactics for making inroads with RIAs and financial advisors and why it’s targeting the wealth channel.
The vehicle, with a specialty in assisted living and memory care properties, aims to eventually be accessible to both accredited and non-accredited investors.
