Fifteen new investment advisory firms filed initial registrations with the SEC, the Federal Reserve issued enforcement actions against former employees of two community banks, and 30 advisors changed firm affiliations — driving 178 events tracked across broker-dealers, RIAs, and banks to open the first full business week of March.

New Firm Registrations Span Coast to Coast

The largest single-day class of new RIA registrations this month includes firms from California to Puerto Rico. AIX Alpha LLC launched in Corona, California, Polen International Equity LLC opened in Boca Raton, Florida, and Coral Capital Management LLC registered out of San Juan, Puerto Rico — one of the few SEC-registered advisers based in the territory.

Other new entrants include Roan Capital Partners in Johnson City, Tennessee, Change Forces in Portola Valley, California, True Square Financial LLC in Atlanta, and Shelter Wealth Strategies LLC in Minneapolis. Four additional firms entered the 120-day provisional registration period, bringing the total new advisory firm activity to 19 entities.

A batch of 15 new registrations in a single day is notable. The RIA channel continues to attract new entrants at a pace that reflects the broader structural shift away from the broker-dealer model toward fee-based advisory. Each new registration triggers a Form ADV filing that becomes publicly available through the SEC's Investment Adviser Public Disclosure system and the Finleet Terminal.

Seven Firms Close Their Doors

On the other side of the ledger, seven advisory firms withdrew their registrations. Two Miami-based firms — Richr Money LLC and IUR Capital LLC — closed, along with two EQT-affiliated entities: EQT Services (UK) Limited in London and EQT Exeter Advisors Asia Pacific Pte. Ltd. in Singapore. Candor Financial LLC and SKM Wealth Management LLC also withdrew, along with Viola PE Management Company Ltd. based in Herzliya, Israel.

The closure of two EQT-affiliated advisers suggests a corporate reorganization at the Swedish private equity firm rather than a business failure. International advisory firms frequently consolidate their SEC registrations when restructuring their U.S.-facing operations.

Three RIAs Rebrand

Three advisory firms filed name changes that signal strategic repositioning. Panoramic Investment Advisors became Forty North Wealth (CRD: 290770), ABL Wealth Advisors LLC rebranded as Abacus Asset Management LLC (CRD: 324280), and Epic Private Wealth changed its name to Legacy Cornerstone Wealth (CRD: 281027).

RIA name changes often accompany ownership transitions, mergers, or strategic pivots. The shift from "advisors" to "wealth" in multiple rebrands reflects the industry's broader movement toward comprehensive wealth management branding.

Fed Enforces Against Community Bank Employees

The Federal Reserve Board issued enforcement actions against a former employee of East Cambridge Savings Bank and a former employee of United Bank. Fed enforcement actions against individual bank employees typically involve violations of banking laws or regulations that the agency determines warrant personal sanctions, which can include civil money penalties, prohibition orders, or cease-and-desist requirements.

30 Advisors Change Firms

Thirty advisor moves were recorded — the highest single-day count in March so far. The moves included several notable wirehouse-to-independent transitions: an advisor moved from Merrill Lynch to Wells Fargo Clearing Services, another left Wells Fargo for Cetera Investment Advisers, and a J.P. Morgan Securities advisor moved to Morgan Stanley.

The Merrill-to-Wells Fargo and Wells Fargo-to-Cetera moves illustrate the cascading nature of advisor mobility. When a wirehouse loses an advisor to another wirehouse, it often creates a vacancy that an independent firm fills by recruiting from the same talent pool. Cetera, LPL Financial, and RFG Advisory all appeared as destination firms in the day's moves — a pattern consistent with the independent channel's continued recruitment advantage.

NY Fed President Williams Speaks on Economic Outlook

New York Fed President John Williams delivered remarks titled "Two Sides of a Coin," addressing the economic outlook and monetary policy. The New York Fed also published a summary of key takeaways from the speech. Separately, the Federal Reserve issued a statement regarding agency mortgage-backed securities small value exercises — routine open market operations that maintain the Fed's operational readiness.

Across the Wire

An additional 73 FOCUS reports were filed with the SEC, continuing the filing wave that began over the weekend. Five amended FOCUS reports were also processed. The OCC approved five branch establishments and processed two branch closings and three corporate actions, maintaining the steady pace of banking-sector structural changes.

All data sourced from SEC Form ADV, Federal Reserve, FINRA BrokerCheck, SEC EDGAR, OCC, and the Finleet Terminal as of March 3, 2026. Entity profiles are available at terminal.finleet.com.