The Secret Report — March

Hi everyone, this is?Pete Secret?with your industry update for the month of March.

I wanted to take a moment to wish you all a wonderful year ahead. At Spartan Advisory, we understand the unique challenges and opportunities that financial advisors face, and we've been fortunate to support professionals like yourself in achieving their goals.

Meet the Team

TRENDING

Look Who is Teeing It Up at The 50th Anniversary?Players Championship

With two weeks to go until the strongest field in golf reconvenes at TPC Sawgrass, THE PLAYERS Championship sets the stage for the 2024 event by profiling four of the biggest names in the sport who are among the favorites to create their Defining Moment en route to hoisting THE PLAYERS trophy. Competing in these playoffs are?Justin Thomas, Jordan Spieth, Max Homa, Nick Dunlap, and more.

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DEALS & MODELS

M&A Begins 2024 With Strong Momentum in RIA Sector

The wealth management sector embarked on 2024 with significant momentum in mergers and acquisitions (M&A), showcasing a substantial $32 billion in assets consolidated across 23 deals in January alone, as reported by Fidelity Investments. The beginning of 2024 marked an increase in the median transaction size to $733 million, up from $588 million in January 2023, indicating a growing scale of deals within the sector. Although there were two fewer transactions compared to the same period last year, the total value of assets acquired saw a 35% increase, with two-thirds of the deals involving assets under $1 billion.

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MARKETPLACE

Noteworthy moves

Every month we compile a list of some recent advisor moves that we would like to spotlight. Here are some examples:

Morgan Stanley Lures $3-Million UBS Broker in NYC

Jonathan P. Torop, who a source said managed $329 million in assets, joined Morgan Stanley on Friday along with client associate Gregory Lang.?Morgan Stanley and UBS have swapped million dollar-plus producers multiple times in recent years. Last month, Morgan Stanley hired a $5.5 million?UBS team?in Atlanta.

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Rockefeller Lands $8.5-Million Morgan Stanley?Team in North Carolina

The team, called Variant Path Group, is led by 22-year industry veteran S. Taylor Barden and also includes advisors James W. Freeman, Kristen A. Richards, C. Lee Ives III, Tory J. Raether, Harper J. Hicks, and James P. Waters.?The Variant Path Group, which ranked #32 on Forbes’ best-in-state wealth management teams list this year, joins Rockefeller’s Southeast Division.

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FIRM HIGHLIGHT

Sanctuary?Wealth: Where Knowledge is Power

Last month the team hosted multiple webinars covering topics in wealth management.?Sanctuary Wealth's core values revolves around the flexibility, choice, and improvement of their clients, models, and elite team. These?insightful webinars covered?topics like Social Security with Franklin Templeton?and Nuveen, a TIAA company?custom models with BlackRock, structured notes with Goldman Sachs?and J.P. Morgan, and private markets with Ares Management Corporation, KKR, Cliffwater, and Marathon Assist Management.

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RESEARCH

Goldman Sachs: The Market

Growth Shocks Emerging?as Key Market Catalysts

?As inflation fears recede, growth shocks could become a greater driver of market volatility. Kamakshya Trivedi, head of global foreign exchange, interest rates, and emerging market strategy research at Goldman Sachs Research, explains what this “transition phase” means for investors’ portfolios.

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TECH

A Look Inside the Luxury Bunkers Where the Super-Rich Plan to Reside Post-Apocalyptic

Douglas Rushkoff was?invited to a remote?resort where he talked to five of the world's richest men about how they are?prepping their living quarters in preparation?of any possible?doomsday in the future.

A look at these underground apartments shows the amount each offers, and it puts perspective on how these bunkers together can operate like it's own village. Including?amenities such as a bar, chapel, pools, and more. ?

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