Jacqueline Sergeant

The Great Wealth Transfer is well underway, and today’s high cost of living is turning out to be a big stimulant. Dave Alison, president of wealth management at Prosperity Capital Advisors, said many of his clients are starting to expedite wealth transfers to help their young heirs with raising their families and dealing with rampant inflation, escalating home prices and high mortgage rates.

Mosaic Value Partners, a former Focus Financial team that launched on Mariner Independent platform at the end of April, has adopted a new name, Value87 Investment Partners. The name change came after the firm was sued by Focus, which argued the use of the "Mosaic" name was a trademark violation. A notice posted by the U.S. District Court for the Central District of California on Tuesday said parties to the lawsuit notified the court of a settlement, but no details were provided.

Edward Jones is facing a class-action lawsuit alleging it discriminates against Black employees with policies that pay them less and offer fewer career advancement opportunities than their white counterparts The complaint was filed yesterday in U.S. District Court for the Eastern District of Missouri, by six Black advisors—Roland Martin, Elwis Johnson, Trevor Edwards, Shawna Knutson, Santoria Texidor and Alonzo Hinton—from different states who worked at Edward Jones from three months to 10...