Wealth Management

Rockefeller Capital Management recently announced that it has nabbed a team of advisors from UBS. Ladage, Smith, Garcia Wealth Partners joined Rockefeller Global Family Office in Austin, Texas. According to the company, this marks Rockefeller’s first private advisor team to be headquartered in the city. The team is led by managing directors and private advisors Alex Ladage and Landon Smith, and also includes senior vice president and private advisor Jorge Garcia, as well as senior client associates Monica Vallejo and Carl Pavlich. Ladage started his career in 2001 at Merrill Lynch and joined UBS in 2009. Smith began his career in 2003 at Edward Jones. He moved to Merrill in 2005 and joined UBS in 2009. According to Forbes, Ladage’s team managed $1.4 billion as of April 2022. Christopher Dupuy, co-president of Rockefeller Global Family Office, said the following in a press release announcing the move, “As we’ve expanded the reach of Rockefeller across the United States, we see significant opportunity to deliver premium and differentiated wealth management services to clients and prospects in Greater Austin and beyond.” In September, Rockefeller CEO Greg Fleming told Reuters that the company aims to more than double its assets under management over the next three to five years.

Finsum:With Rockefeller Capital Management looking to increase its assets under management by more than double over the next few years, the firm lured a $1.4 billion advisor team away from UBS.

Frontier Asset Management and 55ip are combining their areas of expertise to offer financial advisors a unique set of model portfolios that will minimize risk and seek ideal tax management solutions. The two firms inked a deal this month that will apply 55ip’s tax management solutions to Frontier’s risk-averse ETF strategies so advisors can utilize both techniques within model portfolios. While Frontier does not have any proprietary ETFs, it publishes investment strategies that are used by advisors. The firm establishes a downside risk target for each strategy representing the expected one-year loss potential over 12 months. Their strategies are built around the idea of not losing more than the downside risk target 95% of the time. 55ip, on the other hand, offers tax management for an array of products such as model portfolios, ETFs, direct indexing, and active SMAs. It achieves this through proprietary algorithms, which keep track of the different portfolios the firm oversees along with every tax position and tax law related to those portfolios. Rob Miller, CEO of Frontier had this to say about the deal, “Being able to utilize 55ip’s tax overlay service within our risk-managed services gives a really unique product in the investment advisor space. We’re hoping that investment advisors will get the best of both worlds with tax and risk management for their clients.”

Finsum:Frontier Asset Management, which provides risk-management strategies, and 55ip, which offers tax management solutions are combining their expertise to provide advisors with a unique set of model portfolios.

According to new survey data from SoFi, more than a third (37%) of investors said they made impulsive investment decisions due to heightened volatility in the market last year, with younger investors significantly more likely to do so. Out of the 1,000 investors surveyed by SoFi, 29% said they bought a lot of investments, 17% said they sold a lot of investments, and 55% did not buy or sell. While impulsive trading during heightened market volatility is normal, it’s exactly what financial experts say not to do as it can hurt your portfolio over the long run. Instead, investors should stick to their investment plan and stay the course. Joel Mittelman, president of Mittelman Wealth Management, previously told Money.com that “Ironically, during a period of extreme volatility is exactly when you need the discipline and structure of some investment plan. Unfortunately, that's often when people throw the plan in the garbage." Investors are often unsuccessful at predicting the market, so staying invested is typically the best way to optimize returns over the long term. Plus, when you stick to your plan, you won’t miss out on the eventual recovery.

Finsum: A recent survey by SoFi found that 37% of investors made impulsive decisions due to the heightened market volatility last year, the exact opposite experts recommend.

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