The Secret Report - June
Spartan Advisory Partners
We help Wealth Advisors understand their options. $200Bn+ assets successfully transitioned.
Hi everyone, this is?Pete Secret?with your industry update for the month of June.
Summer is heating up and so are the transition packages that are?available.? ? At Spartan, we are here to help you navigate the ever evolving?landscape of the financial industry.
TRENDING
Here's the List of Players Who Qualified for Olympic Men's Golf Competition:
Four Americans will compete at Le Golf National in Paris, France, Aug. 1-4: Scottie Scheffler, Xander Schauffele, Wyndham Clark and Collin Morikawa.?Two players can qualify per country unless they are ranked inside the top 15 in the OWGR, then up to four can earn spots.
Corey Conners played his way to France. The Canadian tied for ninth at the U.S. Open and moved to 37th?in the world, one spot ahead of Adam Hadwin, to secure the country’s second opening.
DEALS & MODELS
U.S. in Prime Position as Energy Sector Eyes New Growth in Markets
External forces are weighing heavily on energy markets in very different ways. While enforcement of merger competition rules puts strain on M&A deals, AI advances offer potential for both increased demand and business efficiencies. RBC Global Energy’s Nick Woodruff and Tim Perry consider the likely effects on the industry with host Vito Sperduto.
MARKETPLACE
Noteworthy moves
Every month we compile a list of some recent advisor moves that we would like to spotlight. Here are some examples:
RBC Snags J.P. Morgan Broker Managing $855 Million in New Jersey
Michael M. Taggart joined RBC in Florham Park, New Jersey.?Taggart started his career in 2000 at Bank of America Private Bank predecessor U.S. Trust.
Taggart?works with customers who have at least $3 million in assets, according to Forbes, which ranked him sixth on its 2024 best-in-state wealth advisors list.
Merrill Broker Managing $1.9 Billion Breaks Away for RIA Summit Financial
Registered investment advisory firm Summit Financial has added a Merrill Lynch broker who managed $1.9 billion in assets in Pasadena, California, according to an announcement on Tuesday.?
Richard J. McWhorter joined Summit on May 10, according to BrokerCheck. He moved along with client associates Sandra Parracino and Kyle Szesnat, and the group is calling their new practice SRM Private Wealth.
FIRM HIGHLIGHT
Morgan Stanley?Names New Manager for NYC Private Wealth Market
Morgan Stanley has filled a vacancy atop its field leadership ranks in New York City as it and its wirehouse competitors continue to reshuffle field leadership ranks.?
Michael R. Farrell is taking over as market executive for the private wealth management market in New York City, according to an internal memo on Wednesday from Northeast Regional Director Nelson Gaertner.
RESEARCH
Morgan Stanley: Election 2024 Inflation Outlook
The Federal Reserve has tried to map out interest rate cuts under the assumption that inflation will finally come under control. However, growth and the labor market have remained robust.
Based on recent economic data, Morgan Stanley Research has revised our forecast for U.S. economic growth from 1.9% to 2.3% for 2024 and 1.4% to 2.1% for 2025.?
LUXURY
Behind the Gates of a Private World for Only the Wealthiest New Yorkers
Everyday life is increasingly unafforable for most New Yorkers, but a?new class of private, members-only and concierge services is emerging as a kind of gated community within the city.
Ultra exclusive clubs, laundry specialists, on-demand helicopter rides and services that allow users to bid hundreds of dollars for a restaurant reservation are transforming how those with lots of disposable income