Managing $480M in assets, Huntsville Wealth Management Group, led by Jason Schrimsher, David Mann, and Miles Stumb, has left UBS for Wells Fargo (AdvisorHub)
Previously associated with Commonwealth Financial Network, $730M Green Bay-based Financial Consulting Services has joined Raymond James (Pulse2.0)
Morgan Stanley snags former UBS team, Berman Partners, bringing in $1.5B in AUM (AdvisorHub)
Managing $790M and $600M in assets, Cebert Wealth and Cities Private Wealth Group have both left Ameriprise to join LPL and Raymond James respectively (AdvisorHub)
M&A Spotlight
MAI Capital Management is acquiring LOC Investment Advisors, a $759 million AUM, fee-only RIA. Founded in 1981 by Robert O’Dell and David Lanham, LOC is the longest-running advisory firm in West Virginia.
LOC serves more than 800 households across 30 states from offices in West Virginia and Florida; both founders will remain involved as part of a succession plan, with Sean Mayberry stepping into a senior leadership role
The deal marks MAI’s 20th acquisition since early 2024 and strengthens its footprint in West Virginia and Florida
MAI, led by Rick Buoncore, now operates 40 offices with more than 675 employees and $72.6 billion in assets
Previous Chief Growth Officer of RFG Advisory, Abby Salameh has taken on a new role at Mercer Global Advisors as Managing Partner (WealthMangement.com)
Piers Hillier has been named Chief Investment Officer of London-based Jupiter Asset Management (Wealth Briefing)
&Partners has snagged Shawn McGinn,former Wells Fargo Managing Director and Head of Growth, as Partner (AdvisorHub)
Leaving Morgan Stanley, Brett Cohen has been named Managing Partner at Evolve Private Wealth (Businesswire)
Strong Growth, Weaker Dollar: Why US Policy Looks Unprecedented
The US Federal Reserve may be entering uncharted territory by cutting interest rates despite a strong economy and a weakening dollar, a combination rarely seen in modern history. Nominal U.S. GDP growth is running above 7-8%, levels last associated with the inflationary 1970s, raising concerns that looser policy could fuel price pressures rather than stabilize them. At the same time, the dollar has fallen about 10% over the past year, and rate cuts could signal the start of a “weak dollar” regime. Optimism that AI-driven productivity will offset inflation risks may be misplaced as de-globalization, labor constraints, and rising small-business pricing intentions remain inflationary forces. In this environment, investors should prepare for unfamiliar market dynamics by broadening exposure beyond U.S. growth stocks. International equities, higher-yielding dividend shares, and so-called “shorter duration” stocks may offer greater resilience if inflation proves sticky and long-term interest rates move higher.
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