D.A. Davidson Duo With $600M AUM Joins LPL
Two veteran advisors, each with more than 20 years at D.A. Davidson, have launched an independent practice under LPL Financial’s Strategic Wealth platform in Sheridan, Wyoming. Their new firm brings approximately $600 million in assets under management to LPL’s supported‑independence model. The move marks another high‑profile migration to LPL’s broker‑dealer network, expanding its presence in the Rocky Mountain region. The advisors will operate as LPL Strategic Wealth, leveraging LPL’s technology and compliance infrastructure while maintaining client‑centric autonomy.
Private Credit Exodus Forces Caps At Cliffwater, Morgan Stanley
Morgan Stanley and Cliffwater have imposed strict caps on withdrawals from their large private credit funds as investors demanded far more liquidity than the vehicles permit. Cliffwater’s $33 billion flagship fund limited redemptions to 7% of shares after a record 14%...
Finra Panel Orders Ex-LPL Advisor To Pay Firm More Than $821K
A FINRA arbitration panel ordered a former LPL Financial advisor to pay more than $821,000 in damages and attorneys’ fees after a TikTok video highlighted alleged racist hiring practices. The advisor had been terminated by LPL following the social‑media exposure....
Thrivent Says It Plans To Hire 600 Advisors In 2026
Thrivent, a Minneapolis‑based financial services firm serving more than 2.4 million clients, announced it will hire an additional 600 financial advisors in 2026, replicating the aggressive recruitment drive it executed in 2025. The expansion is part of a broader strategy to...
Bond Traders See Increasing Chance Of No Fed Cuts This Year
Bond options traders are increasingly betting the Federal Reserve will not cut rates this year. The probability of a no‑cut scenario rose to 25% by Wednesday, up from 17% before the Iran‑Israel conflict escalated. Higher oil prices from the Middle‑East...
Apollo's Zito Sees Private Credit Pain Lasting Up To 18 Months
Apollo Global Management co‑president John Zito warned that the private‑credit market’s turbulence could persist for the next 12 to 18 months. While acknowledging a wave of fund withdrawals, he downplayed them as a systemic problem. Zito highlighted a widespread misunderstanding...
Carlyle CEO Says Firms Erred Labeling Retail Funds 'Semi-Liquid'
Carlyle Group CEO Harvey Schwartz warned that asset managers mischaracterized retail‑focused private funds as “semi‑liquid,” when many can be effectively illiquid. He made the comment during a shareholder presentation, emphasizing that the industry should have been more forthright about liquidity...
Private Credit's Great Divide: Imminent Crisis Or 'No Big Deal'
Private credit markets are facing a sharp split between skeptics and believers after a series of high‑profile defaults. Industry veterans such as JPMorgan CEO Jamie Dimon, economist Mohamed El‑Erian, and a money manager featured in The Big Short warn that...
White House Unveils $1,000 Federal Retirement Match For Workers Left Out of 401(k)s
The White House announced a new federal retirement savings option that would automatically enroll workers without employer‑sponsored plans and provide a taxpayer‑funded match of up to $1,000 per year. The proposal targets the roughly 45 million Americans who lack access to...
Aspen Standard Names Former Beacon Pointe Exec As President
New York‑based Aspen Standard Wealth, a rapidly expanding registered investment adviser (RIA) aggregator, announced the appointment of industry veteran Kevin DiSano as its president. DiSano joins the firm after more than two decades leading wealth‑management and distribution operations at firms...
Stifel Mismanaged Employees' 401(k), Lawsuit Says
Stifel Financial Corp. is being sued in a class‑action case alleging that the firm mismanaged its employee 401(k) plan for years. The lawsuit claims thousands of workers lost tens of millions of dollars in retirement savings due to the alleged...
Blue Owl Sold Private Loans To Pension Giants And Own Insurer
Blue Owl Capital secured four buyers for a $1.4 billion private‑loan portfolio to meet a looming cash‑return deadline in one of its credit funds. The purchasers include three of North America’s largest pension funds and Blue Owl’s own insurer, Kuvare. The...
