Diana Britton
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Managing Editor, WealthManagement.com Host of The Healthy Advisor, a podcast about advisors' personal wellbeing and healing
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Articles by Diana Britton
Can the ‘Vanguard Effect’ Extend to Wealth Management? Original
In the mid-1970s, Jack Bogle’s experiment with low-cost index funds at an asset manager owned by its investors ushered in what came to be known as The Vanguard Effect, a low-cost investing environment that reshaped the industry. That bet paid off in spades.
&Partners Recruits Two Teams With $1.5B in AUM Original
The St. Louis-based hybrid broker/dealer brought on practices from Commonwealth and Wells Fargo, reaching $60B in total assets. Diana Britton,Executive Editor,Wealth Management schedule1 Min Read &Partners, a St. Louis-based hybrid broker/dealer launched by David Kowach, the former president and CEO of Wells Fargo Advisors, has recruited two teams from Commonwealth Financial Network and Wells Fargo.
UBS Lures $1.4B Los Angeles Team From Bernstein Original
UBS has added four financial advisors to its Los Angeles private wealth management office from Bernstein Private Wealth Management. The team, which has over $1.4 billion in assets under management and $11.5 million in production, will operate as Lumina Wealth Partners at UBS.
$2.1B OSJ Sierra Ridge Joins Cetera From LPL Original
The Roseville, Calif.-based OSJ leaves LPL to launch its own RIA on Cetera's Blueprint platform. Diana Britton,Executive Editor,Wealth Management schedule3 Min Read A large office of supervisory jurisdiction (OSJ) in California has left LPL Financial after 13 months with the broker/dealer to join Cetera Networks, a community within Cetera Wealth Services, the firm’s large OSJ channel.
Pete Dorsey Joins State Street as Wealth CRO Original
The former LPL Financial and Altruist executive will lead revenue strategy for the asset manager's custody and clearing business as it expands into wealth services. Diana Britton,Executive Editor,Wealth Management schedule2 Min Read Pete Dorsey, a seasoned financial services executive with tenure at LPL Financial, Altruist and TD Ameritrade, has joined State Street’s wealth services division as chief revenue officer for wealth custody and clearing.
Osaic Hires Chief AI and Technology Officer Original
Sayee Bellamkonda joins from Vialto Partners and will report to CEO Jamie Price. The move follows several executive departures and a $2 billion recapitalization. Diana Britton,Executive Editor,Wealth Management schedule2 Min Read Osaic has hired Sayee Bellamkonda as its new chief artificial intelligence and technology officer.
J.P. Morgan Files Contempt Motion Against Ex-Advisor for TRO Violation Original
J.P. Morgan Securities filed a motion Tuesday to hold Christopher J. Lee, a former advisor, in contempt of court for allegedly violating a temporary restraining order that barred him from soliciting clients on behalf of Morgan Stanley, his new employer. The motion, which was filed in the Supreme Court in the State of New York, was followed Wednesday by the judge’s order to show cause for contempt, requiring Lee to appear in court on Sept. 23 to explain his actions.
Why Vanguard, Altruist Combo "Raises Stakes" for Legacy Custodians Schwab and Fidelity Original
Vanguard and Altruist shifted the custodial playing field overnight with the global asset managers $4.6 billion outlay for the scrappy, tech-focused custody platform, according to analysts and Altruist advisors evaluating the deal.
Forbes and Shook Suspend Advisor Rankings for 2026 Original
The two firms plan to relaunch the program under a new brand in 2027 after Wells Fargo and Morgan Stanley withdrew from participation in the lists. Forbes and Shook Research have suspended all wealth advisor rankings and events for the remainder of this year, while Shook focuses on relaunching the rankings under a new brand in 2027, according to a joint note the two companies sent to advisor teams Tuesday.
Cresset Adds $4B Boca Raton Team From UBS
The 16-person group, led by Michael Bober and Ed Ventrice, establishes the firm's first office in Boca Raton and strengthens its South Florida footprint. Diana Britton,Executive Editor,Wealth Management schedule2 Min Read Cresset Capital Management, a multi-family office based in New York overseeing more than $250 billion in client assets, has added a 16-person wealth advisor team that previously managed $4 billion in client assets at UBS.
Exclusive: Wells Fargo Pulls Out of Forbes/Shook Advisor Rankings
Wells Fargo joins Morgan Stanley in halting its participation in the Forbes and Shook Research financial advisor lists amid a payment controversy, according to an internal memo. Diana Britton,Executive Editor,Wealth Management schedule3 Min Read Wells Fargo Advisors has suspended its participation in Forbes advisor rankings and conferences, according to a memo sent to the firm’s financial advisors on Tuesday. This follows Morgan Stanley’s announcement that it pulled out of the rankings last week.
Exclusive: Wells Fargo Pulls Out of Forbes/Shook Rankings
You can find original article here WealthManagement. Subscribe to our free daily WealthManagement newsletters. Wells Fargo Advisors has suspended its participation in Forbes advisor rankings and conferences, according to a memo sent to the firm's financial advisors on Tuesday. This follows Morgan Stanley's announcement that it pulled out of the rankings last week.
Cresset Adds $4B Boca Raton Team From UBS
You can find original article here WealthManagement. Subscribe to our free daily WealthManagement newsletters. Cresset Capital Management, a multi-family office based in New York overseeing more than $250 billion in client assets, has added a 16-person wealth advisor team that previously managed $4 billion in client assets at UBS. The team, led by Michael Bober and Ed Ventrice, expands Cresset's presence in the South Florida region with the addition of a Boca Raton office.
Apex Adds Gemini to Prediction Markets Platform
You can find original article here WealthManagement. Subscribe to our free daily WealthManagement newsletters. Apex Fintech Solutions has signed a deal with Gemini Space Station to bring Gemini Titan's crypto event contracts to Apex's recently launched prediction markets platform. With this deal, the Gemini subsidiary would become the exclusive regulated venue for crypto prediction markets distributed through Apex's Futures Commission Merchant (FCM).
Apex Adds Gemini to Prediction Markets Platform
Apex Fintech Solutions has signed a deal with Gemini Space Station to bring Gemini Titan’s crypto event contracts to Apex’s recently launched prediction markets platform. With this deal, the Gemini subsidiary would become the exclusive regulated venue for crypto prediction markets distributed through Apex's Futures Commission Merchant (FCM). Apex’s brokerage clients will use Gemini for execution and clearing for their crypto event contracts.
Kestra Affiliate Coastline Wealth Secures $100M in Financing Original
The New York advisory firm secured financing from Brightwood Capital Advisors while completing a dozen acquisitions to fuel its expansion strategy.
Q&A: AE Wealth’s President on Building the Advisor Experience Layer
Earlier this year, AE Wealth Management brought on Shannon Larson, a former Osaic executive, as its new president. At Osaic, Larson’s leadership helped scale the firm to $230 billion through different strategies. Now, AE Wealth is hoping she’ll help achieve its goal of $250 billion in managed assets by 2035. The RIA just hit its 10-year anniversary this summer, and has just over $52 billion in assets across 600 advisors.
$6M 'Gift' Prompts Advisor Concern Over Forbes Rankings
Randall Lane's undisclosed $6 million payment from Shook Research's founder has left some advisors worried about the credibility of wealth advisor rankings going forward. Diana Britton,Executive Editor,Wealth Management schedule10 Min Read Forbes Editor Randall Lane in 2024. Last week, the The New York Times reported that Randall Lane, a top editor at Forbes, was fired over an undisclosed $6 million payment he received from RJ Shook, the founder of Shook Research.
$6M 'Gift' Prompts Advisor Concern Over Forbes Rankings
Forbes Editor Randall Lane in 2024. Christopher Pike/Getty Images Entertainment/Getty Images You can find original article here WealthManagement. Subscribe to our free daily WealthManagement newsletters. Last week, the The New York Times reported that Randall Lane, a top editor at Forbes, was fired over an undisclosed $6 million payment he received from RJ Shook, the founder of Shook Research.
The Healthy Advisor: Living Authentically After Transitioning with Max Kulyk
For his entire life, Max Kulyk felt like he was “in between” genders. But about eight months ago, at the age of 64, he fully transitioned to male, allowing him to be his authentic self for the first time. Diana Britton,Executive Editor,Wealth Management Growing up in a small Pennsylvania town, Max Kulyk knew from an early age that the identity others saw didn’t fully match how he understood himself.
FINNY AI Rolls Out 'Pay-as-You-Grow' Pricing Model Original
The AI marketing platform will charge advisors a monthly fee plus a percentage of assets from clients it helps bring in, similar to custodial referral programs. Diana Britton,Executive Editor,Wealth Management schedule4 Min Read Finny co-founders (L-R): Theodore Janson, Eden Ovadia and Victoria Toli FINNY AI, the artificial intelligence-powered growth and marketing platform for financial advisors, has introduced a “Pay-as-You-Grow” pricing model, similar to custodians’ advisor referral programs.
Apex Launches Prediction Markets Platform Powered by Kalshi Original
Tastytrade is the first firm to sign on, but Apex says it is seeing demand from wealth managers and RIAs. Diana Britton,Executive Editor,Wealth Management schedule2 Min Read Apex Fintech Solutions has launched a prediction markets platform, with an API that gives firms access to market flow from prediction market exchange Kalshi.
Edward Jones Posts Record $5B in Quarterly Revenue
The firm's second-quarter results showed total assets under care climbed to $2.6 trillion, driven by market gains and strong client asset flows into advisory programs. Diana Britton,Executive Editor,Wealth Management schedule2 Min Read Edward Jones added $18 billion in net new assets during the second quarter, up 6% from the year-over-year, according to its second-quarter regulatory update. Total assets under care were $2.6 trillion, up 15% from a year ago.
Edward Jones Posts Record $5B in Quarterly Revenue
Betty LaRue / Alamy Stock Photo You can find original article here WealthManagement. Subscribe to our free daily WealthManagement newsletters. Edward Jones added $18 billion in net new assets during the second quarter, up 6% from the year-over-year, according to its second-quarter regulatory update. Total assets under care were $2.6 trillion, up 15% from a year ago.
AlTi Global Takes $20M Loss on External Manager Original
AlTi Global, the publicly traded wealth management firm with $96 billion in assets, said it experienced a nearly $20 million investment loss on its stake in Arkkan Capital’s Asian Credit and Special Situations stake, one of AlTi’s external managers.
SEIA Launches Tax Division, Expands Family Office Services Original
Signature Estate & Investment Advisors, a $32.6 billion hybrid registered investment advisor based in Los Angeles, has launched a new division focused on delivering integrated tax-planning capabilities to high-net-worth and ultra-high-net-worth clients. The firm has hired Tim Gacsy, who previously led tax and cost basis initiatives at LPL Financial, to lead SEIA Tax Services.
Rockefeller Recruits $2B Merrill Team in Ohio
Rockefeller Capital Management has recruited a 14-person team in Ohio to Rockefeller Global Family Office, the firm’s wealth management division. Jones Wealth Partners joins Rockefeller after more than four decades with Merrill Lynch, where they managed about $2 billion in assets under management, according to Forbes. The move allows Rockefeller to expand its Ohio footprint, opening a new office in Columbus. Rockefeller has existing offices in Cincinnati and Cleveland.
Financial Planning Fraternity Gains Traction
Mu Nu Upsilon has grown to over 70 members and two chapters, with 22 students landing wealth management internships last summer. Diana Britton,Executive Editor,Wealth Management schedule7 Min Read MNY members at a professional network event hosted by the Business Transition Council. The insurance and accounting professions have long had professional fraternities for college students pursuing those majors.
Financial Planning Fraternity Gains Traction
MNY members at a professional network event hosted by the Business Transition Council. You can find original article here WealthManagement. Subscribe to our free daily WealthManagement newsletters. The insurance and accounting professions have long had professional fraternities for college students pursuing those majors. And about three years ago, Mac Gardner, founder and chief education officer at FinLit Tech, created Mu Nu Upsilon, the first professional fraternity for financial planning.
Raymond James Recruits $1.1B Team From Baird
Raymond James has recruited a second $1 billion-plus firm in as many weeks with the addition of The Carlson Group of Raymond James, a Cranberry Township, Pa.-based team with about $1.1 billion in client assets. The team joins the firm’s employee advisor channel from Baird. The team includes advisors Kurt Carlson, Kenneth Breaden, Cassidy Carlson and Brian Koble. They are joined by client service associates Teresa Davis and Jacquelin Croissant.
A Lot of What We Know About Talent Search Is Wrong Original
Most independent advisory firms are great at winning new clients, managing investments and helping navigate their financial lives. But recruiting, developing and hiring staff have been among the top challenges for registered investment advisors over the last several years. The talent search strategy has often consisted of asking around to family and friends, wholesalers, custodians or an advisor from a study group. But as RIAs professionalize, that strategy no longer works.
Sequoia Financial Acquires $1.36B Twin Cities RIA Original
Sequoia Financial Group, an Akron, Ohio-headquartered registered investment advisor with $34.9 billion in assets under management, has acquired All Star Financial, a Minneapolis-St. Paul-based wealth management firm with about $1.36 billion in total assets under management and advisement. This is Sequoia’s first RIA acquisition of 2026. In June, the firm acquired A CPA Inc., an accounting, tax and advisory firm in the Dublin, Ohio area.
LPL Financial Recruited Assets Jump 35% in Q2 Original
LPL Financial said its recruited assets were $25 billion during the second quarter, up 35% from a year ago and about 47% sequentially, as the firm’s recruiters return to their organic recruiting efforts. The firm has recruited $89 billion over the trailing 12-month period, the company reported. LPL is on track to complete the conversion of Commonwealth Financial Network, acquired last year, in the fourth quarter of 2026.
LPL Financial's Strategy Chief Exits After Less Than a Year Original
Ilan Davidovici joined the independent broker/dealer in January from Edward Jones. The firm says its strategic direction and priorities remain unchanged. Diana Britton,Executive Editor,Wealth Management schedule1 Min Read Ilan Davidovici, who served as LPL Financial’s executive vice president of corporate strategy, has left the company after less than a year in the role, the independent broker/dealer has confirmed.
Raymond James Adds $5.4B Team From Comerica Original
Raymond James recently added a trio of advisors in Newport Beach, Calif., to the firm’s employee advisor channel. The team, operating as Capital Reserve Group of Raymond James, joins from Comerica, a regional commercial bank, where they managed $5.4 billion in client assets. Advisors Cory Matsumoto, Rey Carandang and Genae Affrunti join Raymond James & Associates as senior vice presidents of wealth management. They were previously with Comerica, acquired by Fifth Third Bank earlier this year.
&Partners Adds $1.8B Team From Wells Fargo Advisors Original
The St. Louis-based hybrid broker/dealer founded by former Wells Fargo Advisors CEO David Kowach continues its recruiting momentum with its fourth addition this month. Diana Britton,Executive Editor,Wealth Management schedule1 Min Read &Partners, a St. Louis-based hybrid broker/dealer launched by David Kowach, the former president and CEO of Wells Fargo Advisors, has recruited another team from Kowach’s former firm.
Mercer Launches Second Generation of Aspen Unified Operating Platform Original
Mercer Global Advisors, the Denver-headquartered registered investment advisor with $110 billion in assets under management, has released Aspen 2.0, the second generation of its proprietary, unified operating system, which the firm has been working on for the last year and a half. The new version is artificial intelligence-native, meaning it was built with the explicit intent of allowing AI agents to work alongside human advisors in a controlled manner.
Waverly Advisors Acquires InVista, Adding $443M in AUM Original
Waverly Advisors, an acquisitive Birmingham, Ala.-based registered investment advisor, has acquired InVista Advisors, a hybrid RIA previously affiliated with LPL Financial in Montgomery, Ala. InVista had about $443 million in client assets under management, according to a recent Form ADV. “InVista has built an outstanding reputation within the Montgomery market,” said Waverly President and CEO Justin Russell said in a statement.
Corient Acquires $4.9B New York Multi-Family Office Original
The Miami-based RIA continues its acquisition spree with the addition of the New York multi-family office Seven Bridges. Diana Britton,Executive Editor,Wealth Management schedule1 Min Read Corient, the Miami-based registered investment advisor owned by the Mubadala Investment Company, has acquired Seven Bridges Advisors, a New York-based RIA with $4.9 billion in assets under management. Seven Bridges was founded in 2011 by Larry Cohen as a multi-family office and wealth manager.
The Healthy Advisor: What’s Driving Advisor Wellbeing with Michael Kitces
While work environments have stabilized, younger financial advisors reported lower optimism and a weaker sense of purpose, Kitces says. Diana Britton,Executive Editor,Wealth Management Michael Kitces has spent years studying what drives satisfaction among financial advisors, going beyond firm performance metrics to focus on personal wellbeing and career fulfillment.
Creative Planning Acquires Commercial Insurance Firm Original
Creative Planning, an Overland Park, Kan.-based registered investment advisor with about $710 billion in assets under management and advisement, has acquired Lovell Insurance Group, a Lee’s Summit, Mo.-based commercial insurance brokerage, specializing in complex commercial insurance, surety and risk management.
LPL Financial Adds $2.4B HNW Team From U.S. Bank Original
The San Diego-based group has affiliated with Quotient Advisor Partners, an LPL OSJ, bringing expertise in serving high-net-worth clients and multi-generational families. Diana Britton,Executive Editor,Wealth Management schedule1 Min Read LPL Financial has added HighWater Wealth, a San Diego-based firm with $2.4 billion in advisory assets focused on high-net-worth investors, from U.S. Bank. The team has joined Quotient Advisor Partners, an office of supervisory jurisdiction of LPL.
Meet Five Advisors Who Used to Play Professional Soccer
There are similarities between being a pro athlete and a financial advisor. Diana Britton,Executive Editor,Wealth Management photo_library6 Slides The 2026 FIFA World Cup is entering the semifinal stage this week, with Argentina facing England and France facing Spain to see who will play in the final on July 19. The tournament has been even more top of mind for the U.S., as it’s hosted in here and in Canada and Mexico. The last time the U.S. hosted the men’s World Cup was in 1994.
&Partners Adds $864M Team From Wells Fargo Advisors Original
Foothills Legacy Wealth Management, an eight-person practice based in Saratoga Springs, N.Y., brings the hybrid broker/dealer's total assets to approximately $58 billion.
Choreo Acquires Assets of $700M Business Planning-Focused RIA Original
The deal marks the latest in a string of acquisitions for the firm since Jason Van de Loo became chief executive last summer.
Wavvest Recruits $1.4B Advisor to In-House RIA Original
Vinnie Maliakkal managed $1.4 billion at Charles Schwab for 11 years before joining the AI-native wealth management platform as managing director and founding advisor.
Hightower Signature Adds Trio of Practices with $5B Original
Hightower’s branded W-2 channel expands its footprint to $35 billion across 40 locations. Diana Britton,Executive Editor,Wealth Management schedule1 Min Read Hightower Advisors, the Chicago-based registered investment advisor with more than $350 billion in client assets, has added three firms, Private Vista, Hightower Great Lakes and The McGuirk & De Nevi Group, to Hightower Signature Wealth, the branded W-2 channel it launched in October.
Morgan Stanley Aims to Integrate Investment Management, Equity Strategies for RIAs Original
Morgan Stanley wants to bring more tailored investment management tools to independent advisors and recently repositioned its services under an initiative dubbed the "Integrated Firm for RIAs and Family Offices.” The goal is to unify business lines previously siloed across its investment management and institutional equities divisions, and make it easier for RIAs to access them. According to Morgan Stanley executives, the initiative is paying off.
Integrated Partners on Building a ‘Forever Company’
Integrated Partners is celebrating its 30th anniversary this year, reaching the milestone of $25 billion in assets under management and advisement. And the firm has done that without taking any outside capital or external investors. In fact, the company is still 100% owned by founder Paul Saganey. Integrated President Andree Mohr says that’s by design; after 30 years in business, the core vision and culture of the firm haven’t changed.
Three Focus Financial RIAs Merge to Form $10B Firm Original
Coastal Bridge Advisors, a Westport, Conn.-headquartered registered investment advisor, is merging with Memphis-based Waddell & Associates and One Charles Private Wealth, a Hingham, Mass.-based wealth management firm. All three are in the Focus Financial Partners network, and this move builds upon Focus’s consolidation efforts.
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