Michigan Financial Advisor Running for Governor
The co-founder and owner of a Michigan-based RIA is running for the Republican nomination for governor against current Democratic Gov. According to Gretchen Whitmer this fall Detroit News,
Legacy Financial Network head Michael Markey described himself as “moderate” in the primary race after submitting the required number of petition signatures for inclusion in the ballot, Detroit News Reported, He is the second candidate for the Republican nomination to have signed for the office of Secretary of State, receiving 22,000 valid signatures, up from a minimum of 15,000 according to the candidate.
Legacy Financial Network’s RIA subsidiary is called LFN Advisors and its services include cash flow management, tax planning, investment management, and retirement and legacy planning, according to its Form ADV. As of early March, LFN handled approximately $1.4 million on a discretionary basis, adv says,
Markey co-founded the firm in 2013, building the business in one to three locations throughout the state, According to company website, Markey hosts a weekly radio show broadcast throughout West Michigan every Thursday called “Fireproof Your Finance”, and is also the author of a book titled Fireproof Your Retirement, While LFN Advisors serves the marque’s RIA business, more than half of the marque’s revenue stems from the sale of insurance products through its affiliated business as an insurance agent through the Legacy Financial Network, according to the company’s Form ADV. .
Whitmer is currently running for her second term in a state that was won by President Joe Biden, helping to secure her victory in the 2020 presidential election; Markey said he was one of only two candidates for the Republican nomination who publicly acknowledged Biden’s victory in the state. Detroit News,
Markey isn’t the only financial advisor to seek public office this fall; In Montana, financial advisor Gary Buchanan is running as an independent challenging US Representative. Matt Rosendale (R-Mont.) for his seat in Congress, according to this billings gazette,
Buchanan’s financial services background began in 1985 with a five-year stint with Merrill Lynch, As per their advisorinfo profile, Since then, he has also worked with DA Davidson, Wachovia and Prospera Financial Services; He has also served according to the Montana Capital Development Board and the Montana Power Authority. billings gazette,
Rosendale was elected to the state’s highest-ever congressional representative in 2020, defeating Democratic nominee Kathleen Williams. Rosendale also failed to oust the current Sen. John Tester (D-Mont.) in the 2018 midterm election. According to the Billings Gazette, Buchanan was prompted to run against Rosendale on the basis of his vote. Against the resolution of the House supporting Ukraine In the wake of Russia’s invasion of the country.
Buchanan also said he was displeased with a bill proposed by Rosendale that would provide aid for Ukraine to build a 30-foot steel wall between the US and Mexico, the first for the United States. billings gazette Reported.