The Secret Report — July
Hi everyone, this is Michael Maron with your industry update for the month of July.
As the summer temperatures rise, so do the opportunities with our latest transition packages. At Spartan, we're committed to assisting you in navigating the ever-evolving financial industry landscape.
LUXURY
Super-rich spending up to $500,000 on exclusive Paris Olympics packages
Members of the global super-rich are spending as much as $500,000? on “ultra-exclusive” packages for the Paris 2024 Olympics that promoters claim include meeting athletes, access to the athletes’ village and “the chance to be part of the opening ceremony”.
GR8 Experience, an “international experience agency”, affiliated with the business manager of LeBron James, is selling Olympic packages that it claims include tickets to 14 events such as the men’s 100m finals and the opening ceremony for $381,600.
TRENDING
Paris Olympics 2024: Who's Competing for Team USA?
With the 2024 Paris Games approaching, Olympic qualifying is now complete and nearly 600 athletes have earned their spots on the U.S. Olympic team. Familiar faces will be competing this year, with some exciting sports to keep an eye out for, including: Artistic swimming, Gymnastics, Basketball, Soccer, Skateboarding, Golf and more. Lebron James, will go for his third Olympic gold medal when he and Team USA take the court this summer in Paris.
DEALS & MODELS
Global M&A Industry Trends
After high hopes in January of an upswing in dealmaking activity, a thick fog of uncertainty descended on M&A markets, clouding M&A prospects and causing a precipitous decline in deals during the first half of 2024.? Breaking through the clouds, we have identified some macro factors, including a few surprising market anomalies that we believe hold the key to unlocking dealmakers’ confidence and charting a return to a healthier level of M&A activity.
MARKETPLACE
Noteworthy moves: Every month we compile a list of some recent advisor moves that we would like to spotlight. Here are some examples:
LPL Plucks Ameriprise Team Managing $475-Mln in South Carolina
LPL Financial continues to apply recruiting pressure on competitor Ameriprise Financial as it landed a South Carolina team with $475 million in assets, according to an announcement on Wednesday. The move comes as LPL, the nation’s largest independent broker-dealer with over 22,000 brokers, has been hiring aggressively from Ameriprise and as those recruiting battles have spilled over into the courtroom.
RBC Nabs Merrill Team Managing $640 Million in New Jersey
RBC Wealth Management on Friday added a Merrill Lynch team with $640 million in assets in Paramus, New Jersey, according to an announcement.
The group is led by David Collet, and it includes junior advisor T. Chris Braun and client associates Jon Schulz, Evan Levitsky and Patricia Kramer. The group reports to RBC’s North Jersey complex manager Steve Ornstein, according to the announcement.
FIRM HIGHLIGHT
Morgan Stanley Tops Estimates on Stronger-Than-Expected Trading and Investment Banking
The bank said profit surged 41% from the year-earlier period to $3.08 billion, or $1.82 per share, helped by a rebound in Wall Street activity. Revenue rose 12% to $15.02 billion.
Morgan Stanley investors value the more steady nature of the wealth management business versus the less predictable nature of investment banking and trading, and they will want to hear more about expectations for the business going forward.
RESEARCH
Rockefeller Capital: How AI Fits Into The Future of Wealth Management
AI is finding its place in private wealth management but won’t replace the human connection.
The era of generative AI is just beginning, with palpable excitement and promising early pilots. As AI evolves, rapid developments in natural language processing, data analytics, and machine learning pose likely disruptions for financial services but also great opportunities for firms and advisors able to adjust to radical change.
Want more information & insight? Schedule a 1-on-1 business review with me: [email protected]
Magical Things are Happening for Financial Advisors Who Take Control of their Destiny and I LOVE Helping them get MORE than they Think is Possible! What if you can BE HAPPY and Make MORE ???
7 个月Nice job . Hope all is well Mike