An increasing number of large firms are bringing in outside professionals to run the business -- but a recent, high-profile split illustrates the strategy's risks.
Cincinnati-based Lenox Wealth Management, which has over $1 billion in AUM, has parted ways with 34-year-old president and chief operating officer Jay Hummel, Financial Planning has learned, after the executive team clashed over management philosophy.
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access