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Bob Oros leaving Fidelity

January 13, 2017

Bob Oros, executive vice president and head of the RIA segment at Fidelity Investments, is leaving the company at the end of the month to pursue a “unique new personal challenge,” according to a company spokeswoman. Mr. Oros, 51, announced...

RIAs could be ultimate winners if DOL fiduciary rule is repealed or delayed

January 11, 2017

As potential delays and road blocks pile up in front the Department of Labor's fiduciary rule, an irony is emerging in that the strongest supporters of the rule could benefit the most from the rule's demise. Independent registered investment...

RIAs embrace the collegial world of study groups

January 9, 2017

One might assume the last thing a busy financial adviser would want is another meeting on the calendar. But when it comes to organized study groups with industry contemporaries, it seems RIAs can't get enough. “The RIA market is extremely...

Steward Partners nears $5B as it continues to recruit wirehouse reps

January 3, 2017

The first hurdle for any wirehouse rep hoping to join Steward Partners Global Advisory is the “no-jerk policy,” which company founders say is more important than experience or assets under management. “We want great people, first, who...

Advisers may not feel it yet, but downward fee pressure is coming

December 15, 2016

Financial advisers might not feel the increased pressure on fees this year, or next, but it is coming, according to the 2016 Fidelity RIA Benchmarking study. Factoring in the increased pressure from realities such as the rapid growth of low-cost...

Michael Durbin gets to work building out Fidelity's distribution channels to advisers

December 14, 2016

In the quietly aggressive ground game of custody and clearing services, Fidelity Investments has turned to Michael Durbin to lead its next charge. By most measures, he appears well-suited for the job as head of Fidelity Institutional Product,...

Will product pricing pressures carry over to advisory fees?

November 30, 2016

As low-cost index funds and ETFs continue to take market share from higher-cost actively managed funds, financial advisers could soon find themselves caught up in the downward pressure on fees. Emily Sweet, senior analyst at Cerulli Associates,...

Advisers offer tips for surviving a cybersecurity exam

October 26, 2016

Investment advisers who have been through a Securities and Exchange Commission cybersecurity examination warned other advisers Tuesday not to wait for an inspection notice from the agency to begin fortifying their online systems. “It's like...

Custodians help advisers navigate DOL fiduciary rule

August 7, 2016

Custodians have morphed into consultants for registered investment advisory firms, navigating them through an increasingly complex regulatory landscape. Chief among new regulations financial advisers have to conform to is the Labor Department's...

RIAs should charge fees tied to net worth: TD's Tom Nally

June 9, 2016

Registered investment advisers should charge fees based on their clients' net worth instead of the size of their investment accounts, according to Tom Nally, president of TD Ameritrade Institutional. Charging clients solely based on the amount...

After record year, Pershing Advisor Solutions expects to add up to $15B in new assets in 2016

June 9, 2016

Pershing Advisor Solutions attracted $19 billion in assets under management in 2015, as the custodian for advisers and family offices posted its best year since its founding nearly 10 years ago. While 2016 is likely to fall short of that high...

RIAs are losing their competitive advantage

June 5, 2016

Registered investment advisers need a new card up their sleeve. For years, RIAs have marketed themselves as being a cut above their counterparts in the brokerage industry. While they followed a fiduciary standard, requiring them to act in their...

Why Pershing is cherry-picking the robo-advisers it offers its clients

May 6, 2016

Pershing has chosen to integrate a variety of robo-advisers as opposed to building or buying one, and has started with four very different choices. Bank of New York Mellon's Pershing, a custody and clearing firm, is adding three new digital...

Independent broker-dealers suffer worst year since credit crisis

April 25, 2016

For the independent broker-dealer industry, 2015 was the worst year in the last six, and 2016 promises to be just as difficult — if not more so. “If 2015 was bad, 2016 is worse,” said Joel Marks, the former chairman of independent broker-dealers...

New academic research challenges the honesty of financial advisers

March 2, 2016

Business school profs are taking it to the financial advice industry with a new paper charging economy-wide misconduct. “It's everywhere, not just small firms. It's pervasive.” Bill Gross is fighting to keep his case against Pimco from being...

Pershing names Hardwick COO as Dolly steps into CEO role

February 10, 2016

Pershing has named Lori Hardwick chief operating officer of the Bank of New York Mellon Corp.-owned brokerage and custody services business. + Zoom Lori Hardwick Ms. Hardwick is joining Pershing from Envestnet Inc., a wealth management technology...

Top 10 hottest trends in the IBD industry

January 22, 2016

Advisers and their independent broker-dealers saw movement last year in regulation, investment products, business strategies, retirement vehicles and more. Here are 10 of the hottest topics, which are sure to continue to evolve as the year unfolds.

Biggest billion-dollar adviser moves since 2011

January 22, 2016

Over the past five years, big adviser moves have picked up steam. These interactive graphics offer more details on the biggest moves since 2011. Hover your cursor over the names of the firms for details on where advisers moved from, as well...

How to avoid becoming a tax scam victim

November 20, 2015

After the IRS' big data breach, you might want to file this under 'do as I say, not as I do.' But give the agency credit for trying. The IRS' 7 steps to avoid becoming a tax-scam victim. Does the strong debut for mobile payments company Square...

Fidelity, Schwab to halt AR Capital sales

November 19, 2015

A major clearing firm, Fidelity Clearing & Custody, and a leading custodian for registered investment advisers, Charles Schwab & Co. Inc., have halted or will halt by the end of the week sales of AR Capital products. Nicholas Schorsch's AR Capital's...

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