Advisers on the Move

Former UBS reps form new RIA

Apr 19, 2010 @ 3:17 pm

By Lisa Shidler

Three former UBS advisers today announced that they've formed an independent registered investment advisory firm called Mississippi Investment Management Company LLC in Jackson.

Leading the firm are advisers Tom Bertaut and Chris Carrico, who left the Jackson office of UBS AG in January, and Bill Whitney, a UBS veteran adviser who retired from the industry six years ago.

Forbes Watson, an equity portfolio manager for Royal Bank of Canada until January, has joined the three ex-UBS reps in their new venture. The firm has about 70 clients and $100 million in assets.

Mr. Whitney said the new firm will use a customized investment solution for clients.

“We don't try to do anything fancy,” Mr. Whitney said. “We're not into the new products. We're not into the derivatives. It's a very old-fashioned concept.”

The firm has selected Pershing Advisor Solutions, an affiliate of Pershing LLC, as its clearing and custody agent.

Mr. Whitney said the firm will concentrate on helping individuals with a number of wealth issues, including ensuring that portfolios are tax-efficient.

“We pay a great deal of attention to taxes,” he said. “I can count on one hand the amount of times I've taken a short term gain. We're very concerned that accounts be efficiently managed.”


What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video


How 401(k) advisers can use 'centers of influence' to grow their business

Leveraging relationships with accounting, benefits, and property and casualty insurance firms can help deliver new business leads for retirement plan advisers.

Latest news & opinion

Things are looking up: IBDs soared in 2017

With revenue up, interest rates rising and regulation easing, IBDs are soaring.

SEC advice rule may give RIAs leg up over broker-dealers

Experts say advisers will be able to point to their role as fiduciaries as a differentiator in the advice market.

Brokers accept proposed SEC rule on who can call themselves an adviser

Some say the rule will clear up investor confusion, but others say the SEC didn't go far enough.

Cadaret Grant acquired by private-equity-backed Atria

75-year-old owner Arthur Grant positions the IBD for the 'next 33 years.'

SEC advice rule seeks to tighten reins on brokers

The proposed rule puts new restrictions on brokers, but it is still unclear how strongly the SEC is clamping down.


Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting It'll help us continue to serve you.

Yes, show me how to whitelist

Ad blocker detected. Please whitelist us or give premium a try.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print