Pinkerton purchases W.E. Sherman Co.

Pinkerton Retirement Specialists, LLC, of Coeur d’Alene, announced Friday that it has acquired W.E. Sherman and Co., a nationwide investment firm that serves hundreds of investment advisers in 47 states and Canada.

W.E. Sherman had been producing the Sherman Sheet, which provides market analysis and information to investment advisers and financial professionals. Dan and Kathryn Pinkerton purchased the firm through their LLC.

The acquisition will include transitioning the Sherman Sheet into two new offerings. These will include the Portfolio Signals service and the Turnkey Asset Management Program or TAMP.

The transition from Sherman Sheets to Sherman Portfolios LLC will be complete on March 26.

“We have worked with Bill Sherman and his team for over 5 years now, and look forward to expanding their services and research that will benefit our current clients as well as the hundreds of investment advisors in North America that depend on our research,” Dan Pinkerton said in a news release.

Gold price hits two-year low

Gold headed for a second weekly decline after a slew of central banks followed the Federal Reserve in raising interest rates to cool inflation.

Bullion slipped to the lowest in more than two years on Friday as the dollar climbed to a record.

The precious metal joined the selloff in risky assets as investors opted for cash after U.K.’s economic plan reignited concerns that central banks’ aggressive interest-rate hikes to rein in rampant price increases may lead to a recession.

From staff and wire reportsWeakness in bullion is “very likely to persist” due to “monetary tightening that makes gold costlier to hold,” said Gnanasekar Thiagarajan, director at Commtrendz Risk Management Services.