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Author: rafferty

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Texas Trio Launches RIA With ‘Precedent’-Setting Profit-Sharing Program

13:41 28 April in In the News by rafferty

April 26, 2023 By Ali Hibbs, WealthManagement.com Firm namesakes have left Linscomb & Williams to start an 'aspirational RIA that shares profits with clients.   Brothers Harold Williams and George Williams, along with Harold’s son Grant Williams, announced the launch of their new registered independent advisory firm on the Dynasty Financial Partners platform on Wednesday. The five-person team previously managed more than $1 billion in assets at Linscomb & Williams, a $4.3 billion AUM Houston-based wealth management firm where Harold was chairman and George was serving as executive vice president. Both were with the firm from the beginning, while Grant Williams joined as a business development manager almost five years ago. President Phillip Hamman took over as CEO from Harold Williams last August, said a spokesperson, and G. Walter Christopherson has been named the firm’s new vice...

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Boston B/D Cantella Shutters, Joins Cambridge as Super OSJ

13:21 28 April in In the News by rafferty

April 26, 2023 By Diana Britton, WealthManagement.com Cantella recently shuttered its 65-year-old broker/dealer; its 105 advisors, and some $5 billion in assets, have moved to Cambridge. Longtime Boston-based independent broker/dealer Cantella & Co. has withdrawn its broker/dealer and RIA registrations and converted into a super office of supervisory jurisdiction (OSJ) with Cambridge Investment Research. Cambridge brought over 105 Cantella advisors in December 2022, representing approximately $5 billion in assets under management. The Cantella brand and leadership team, which includes CEO and CIO Jay Lanstein, President and Chief Revenue Officer Jennie Devlin, CFO and Director of Trading Bill McEvoy, and Chief Risk Officer and CCO Sheelagh Howett, remain—only now with a Cambridge broker/dealer affiliation and under its corporate RIA. Jeff Vivacqua, president of growth and development at Cambridge, said Cantella made the move because the firm's executives didn’t...

Advisor Group Says It’s Considering New Name

14:14 12 April in In the News by rafferty

April 7, 2023 By Jeff Berman, ThinkAdvisor What You Need to Know The group of eight firms is said to be weighing its options ahead of a possible IPO. Advisor Group managers have discussed merging BDs, recruiter Jon Henschen says. The firm could also become self-clearing before going public, he says.   Advisor Group says it’s still considering a consolidation to bring its affiliated brokers closer together. One way to help achieve that could be a rebranding initiative. “While nothing has been finalized, we’ve made no secret of exploring” a consolidation that would bring its eight firms closer together, a company spokesman told ThinkAdvisor in an email late Thursday. Advisor Group includes eight broker-dealers: American Portfolios, FSC Securities Corp., Infinex Financial Group, Royal Alliance, SagePoint Financial, Securities America, Triad Advisors and Woodbury Financial. “As we noted publicly...