Results for "breakaways"

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Lessons in leadership for advisers from 'Game of Thrones'

January 20, 2016

Until the Middle Ages, warfare was primarily a battle of numbers. Those with the most men won the war. That changed as weaponry became more important than people in winning combat. The battle for market share in our industry is much the same....

$1B Colorado-based RIA merges with $250M firm

January 19, 2016

Registered investment advisory firm Sargent Bickham Lagudis, with $1 billion in assets under management, announced Wednesday that it has merged with Colorado Financial Management, a firm that manages $250 million. “What we hope is that we...

Errors advisers should steer clear of when updating ADVs

January 14, 2016

Financial advisers filing their annual disclosure forms to the Securities and Exchange Commission should make sure they are paying attention to some recent enforcement cases the agency has brought. Over the past year, SEC cases have charged...

4 adviser recruiting predictions for the year ahead

January 13, 2016

It's time for me to give my 2016 predictions for the wealth management industry, with a focus (obviously) on recruiting: 1. The trend of substantive wirehouse teams departing the wirehouses for "anything but a big firm" will continue. My own...

The cost of independence

December 6, 2015

Christopher Bray founded Ariel Capital Advisors nearly two years ago, naming the Florida-based advisory firm after his 4-year-old daughter. Now he is being sued by Ariel Investments, a $10 billion Chicago-based mutual fund company, for allegedly...

RIA deal mania and why you should care

December 3, 2015

The past several months have been fascinating if you are an independent adviser. Three large transactions have been announced that offer some telling signals about where the industry is headed. To wit: • Lightyear Capital bought a majority...

RIA firms have room for more women

November 22, 2015

Women who have left Wall Street to launch their own independent registered investment advisory firms offer similar reasons that men give for making the move. Like men, they desire more control over their businesses; they are far more comfortable...

Wake-up call for RIAs: It's time to fix exams before it's too late

November 15, 2015

Imagine a town where things are quiet and so the cop doesn't walk the beat as often as he used to, yet this absence of police presence can fuel a sense of insecurity. Registered investment advisers find themselves in a similar pickle: infrequent...

Merrill Lynch team with $700M AUM leaves to launch RIA

November 10, 2015

An adviser team with $700 million in client assets has left Merrill Lynch to start an independent advisory firm. Ross Fox, Matthew Papazian, Marti Awad and Sarah Keys have launched Cardan Capital Partners in Denver. Cardan is using Dynasty Financial...

3 reasons the time is now for big breakaways

November 2, 2015

The number of large teams breaking away and starting their own independent advisory firms has been rising. Scott Highmark of Mosaic Family Wealth likes to compare this trend to the growth of the craft beer industry. Craft beers, like breakaways,...

HighTower Advisors adds $600M multi-family office to independent channel

October 19, 2015

HighTower Advisors, a hybrid broker-dealer and investment adviser, has added Legacy Wealth Group Inc., a South Florida team that previously managed close to $600 million in assets. Based in Fort Lauderdale, Legacy Wealth is led by three managing...

Advisory firm owners balance rewarding performance with keeping a lid on compensation

October 18, 2015

Adviser salaries have been stagnant for the past two years, but bonuses are up sharply, reflecting a willingness by employers to reward performance while at the same time keeping a lid on overall compensation. Adviser salaries last year were...

$258M UBS team goes independent with Wells Fargo FiNet

October 14, 2015

A team of financial advisers have parted ways with UBS to join a Wells Fargo Advisors Financial Network practice in Irvine, Calif. Curtis Rach and Jud Crary, former senior vice presidents of wealth management at UBS in Irvine, resigned from...

Women's rise to senior positions at advisory firms has stalled

October 13, 2015

Women are well-represented in the financial advice industry from an overall staffing perspective — making up about half of total employees at a typical advisory firm — but that picture changes dramatically when we look deeper. In breaking...

Advisers seek independence, but less often as entrepreneurs

October 8, 2015

Going it alone isn't nearly as attractive for financial advisers as it used to be. Today, financial advisers are more likely to join an established RIA than to create their own independent advisory firm, a new report by Cerulli Associates found....

Commonwealth loses $650M firm to RIA channel

October 6, 2015

D.B. Root & Co., a firm affiliated with Commonwealth Financial Network that managed more than $650 million in client assets, has formed a registered investment advisory. The Pittsburgh-based RIA includes founder and CEO David B. Root, along...

Breaking away for the wrong reason

September 27, 2015

Adviser Sean Meadows was sentenced to 25 years in prison in June for stealing $10 million from clients. In August, Jacob Cooper was fined $2.8 million and also barred from the securities industry for putting his clients' money into investments...

Adviser independence no longer synonymous with ownership

September 23, 2015

According to the 2015 InvestmentNews Compensation & Staffing Study, independence is no longer synonymous with ownership as employee advisers now outnumber owners at independent advisory firms. Our experience at The Advisor Center mirrors these...

LPL and $775 million adviser part ways amid investigation

September 18, 2015

LPL Financial and its top adviser in Louisiana cut ties last month after the adviser received a Wells notice announcing an investigation by the Financial Industry Regulatory Authority Inc. Garrett Andrew Ahrens and his firm, Ahrens Investment...

How to talk to your clients about a tech crisis at your firm

September 4, 2015

It seems almost heretical for an IT expert to say this, but registered investment advisers should accept that business disruptions due to technology failures are inevitable. KPMG has reported that financial services ranks among the industries...

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