Business Transitions

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Mercer Exec Replacing Salisbury As Chief Of EBRI

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Harry Conaway, a partner at consulting firm Mercer and head of its Washington Research Group, is taking the reins as CEO of the Employee Benefit Research Institute.

Principal Names CEO; Will Build On Retirement, Asset Management

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Principal Financial Group, with about $540 billion in AUM, promoted Daniel Houston to CEO.

United Capital Acquires $415M S.C. Firm

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Newport Beach, Calif.-based United Capital Financial Advisers has acquired the assets of McDonald, Cox & Klugh, Inc., of South Carolina.

A How-To Guide For Opening Your Own Wealth Management Firm

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Several independent investment advisors, many of them former brokers, give their advice on opening an independent firm.

RCAP Refocusing On Retail Brokerage, Dumping Wholesale Business

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The company is replacing its CEO and CFO and selling its wholesale business, which suffered fall out from an accounting scandal last year.

Cetera To Shut Down J.P. Turner B-D

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Cetera Financial Group will be shutting down J.P. Turner, its Atlanta-based broker-dealer acquired in June 2014.

Prudential Plc Shuts $12 Billion Curian Fund Manager In U.S.

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Prudential Plc, the U.K.’s biggest insurer by market value, is winding down the Curian Capital asset-management operation in the U.S. after a review of its business.

U.S. Small Business Loan Program Halted As Demand Exceeds Cap

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The Small Business Administration said it reached the $18.75 billion cap for its main loan guarantee program, forcing it to halt the funding of new loans.

Credit Suisse To Shrink Investment Bank To Focus On Wealth Management

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Credit Suisse Group AG will shrink parts of its investment bank and focus on growing in Asia and in wealth management, said its new chief executive officer.

BEAM Joins Securities America

by FA Staff

Missouri and Louisiana firms merge and join Securities America.

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