Results for "breakaways"

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Wells Fargo loses $265 million adviser to Raymond James

November 7, 2017

Mark Lazar, an adviser who managed $265 million in assets at Wells Fargo Advisors, has joined the employee unit of Raymond James in Cottonwood Heights, a suburb of Salt Lake City, Utah. Mr. Lazar, who is being joined by two associates, began...

Morgan Stanley's broker protocol exit: How did we get here?

November 2, 2017

Morgan Stanley dropped an industry bombshell this week upon announcing it would leave the broker protocol, a 13-year-old agreement that governs how financial advisers could leave one brokerage firm for another without getting in legal trouble....

HighTower snags $500M JPMorgan rep

October 5, 2017

HighTower Advisors has brought a $500 million Miami-based JPMorgan rep into the fold. Marc Shachtman, 49, is making his move to independence as founder and chief executive of the newly-launched True Wealth Advisory Group, which caters to 30...

Why operations teams are the unsung heroes behind breakaways

September 20, 2017

The breakaway movement has continued to gain headlines as more teams have make the leap to the RIA channel. Most articles surrounding recent breakaways tend to focus on how much assets the adviser has managed, the adviser's experience in the...

Lincoln Financial loses $300 million, 20 reps to ProEquities

August 30, 2017

After 17 years with Lincoln Financial Securities, Bill Pickering has decided his $300 million-plus wealth management practice will be better served by a new broker-dealer relationship at ProEquities of Birmingham, Ala. Mr. Pickering, president...

Morgan Stanley loses $390 million team to Baltimore-area hybrid

August 7, 2017

A two-adviser team managing $390 million in assets at Morgan Stanley has joined Harbor Investment Advisory, a hybrid firm based in Lutherville, Md. The team, which consists of advisers Paul M. Fox and Jennifer L. Winslow, and associates Patrick...

The First 90 Days:

June 27, 2017

For newly created Registered Investment Advisor (RIA) firms, the first 90 days after launch can be both exhilarating and daunting in equal measure. On the one hand, firms get their first taste of independence as they begin to shape a new enterprise...

The First Steps:

June 21, 2017

Registered Investment Advisor (RIA) firms often are born from inspiring goals: to pursue greater personal independence, to forge stronger client partnerships, or perhaps to build a successful enterprise. Those making the leap to independence...

Ameriprise loses $275 million team to LPL hybrid unit

June 15, 2017

A five-adviser team that managed $275 million at Ameriprise in Raleigh, N.C., has affiliated with LPL and its hybrid RIA platform. Operating as Socratic Wealth Advisors, the team includes veteran advisers Chris Demarest, Murat Kaptanoglu, Andrew...

5 benefits of transitioning to independence

June 13, 2017

The RIA channel is one of the fastest-growing areas of the advisory market, expanding more than 11% annually, compared with an 8.6% rate for the overall industry, according to Cerulli Associates. This growth has been fueled in part by a migration...

$160 million Merrill Lynch team exits for HighTower

May 22, 2017

A four-adviser team managing $160 million in assets has left Merrill Lynch in West Palm Beach, Fla., to create an RIA firm, PDS Wealth Management, that has affiliated with HighTower. Breaking away were the new firm's managing director Tom Parker,...

Wells Fargo FiNet loses $275 million team to Raymond James

May 18, 2017

Jeff Holloway and Sean Harman and their team in Kansas City, Mo., have switched affiliations from Wells Fargo Advisors Financial Network to the independent unit of Raymond James. The five-person team, operating as Holloway Harman & Associates,...

Dynasty Financial lures breakaways with new financing deal

May 3, 2017

Dynasty Financial Partners is launching a new division aimed at providing liquidity options for registered investment advisers. The new unit, Dynasty Capital Strategies, will expand the firm's capabilities to include the purchasing of revenue...

Ask the Ethicist: What should an adviser do if their former firm violates a non-compete agreement?

April 28, 2017

Q: I'd like your opinion on something that happened to a friend of mine who recently left his position as a veteran adviser with a wirehouse to go independent. Before he left he mailed a "tombstone" letter to his clients so they were aware that...

Focus Financial adds $800M Lone Star State firm

February 7, 2017

An $800 million registered investment advisory firm based in Coppell, Texas, CFO4Life, has joined the New York-based Focus Financial Partners. In a press release, Focus said the RIA is its 44th partner firm and its first headquartered in Texas....

Banks, credit unions could start buying advisory practices

February 1, 2017

In September, when Salem Five Bank acquired Stumm Financial Services, it set in motion a financial advice model that could become a blueprint for other banks and credit unions, and also represents new distribution for platforms like LPL Financial....

Smarter sellers, buyers bog down RIA M&A activity

January 30, 2017

The number of merger and acquisitions involving registered investment advisers fell by 25% last year. The latest M&A report from Fidelity Custody & Clearing describes the 104 deals in 2016 as an anomaly, and projects transactions for the current...

Fidelity's Bob Oros to take over as CEO of HD Vest

January 23, 2017

Bob Oros, executive vice president and head of the RIA segment at Fidelity Investments, is taking over as CEO of HD Vest Financial Services Inc. Mr. Oros, 51, who is slated to leave Fidelity at the end of the month, will replace Roger Ochs,...

TD Ameritrade says trading impacted by Trump's tweets

January 18, 2017

TD Ameritrade Holdings Corp. saw its fiscal-year first-quarter average daily trading volume climb 11% over the same period last year, and at least part of that activity is being attributed to President-elect Donald Trump. During a Wednesday...

Women advisers not attracting as many assets as male colleagues

January 12, 2017

Female financial advisers are not attracting an equal share of client assets compared with their male colleagues, and the picture looks especially bleak at RIAs, new data show. The number of female financial advisers overall is slowly rising...

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