Results for "registered investment advisers (RIA)"

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Millionaires make a comeback

June 10, 2010

The global millionaires’ club expanded by about 14 percent in 2009 with Singapore leading the way, The Boston Consulting Group said. The number of millionaire households increased to 11.2 million, according to the study released today by the...

NFP offers to buy $230M in notes

June 9, 2010

Financial advisory firm National Financial Partners Corp. said Wednesday it began a tender offer for $230 million in senior notes. The notes are 0.75 percent convertible senior notes due 2012. Holders who tender their notes by the expiration...

U.S. Trust, Atlantic Trust ramp up recruiting

June 9, 2010

U.S. Trust Corp., the private banking unit of Bank of America Corp., has hired five senior-level wealth management experts as part of the firm’s bid to hire more than 200 advisers and bankers this year. Tom Finney, a former managing director...

Big recruiting deals in AdviserLand: What's going on?

June 9, 2010

Monday's Wall Street Journal had an article about B of A/Merrill Lynch increasing their deals for recruits at the high end for 150%, up from 120%. At the same time, Morgan Stanley Smith Barney reportedly is offering big deals for third and fourth...

Advisers are still stressed out: survey

June 8, 2010

Despite the economic recovery, roughly half of financial advisers say they’re still under pressure because they’re providing new services to sort out all the damaged caused by the downturn. Since the recession began in December 2007, some...

Credit rating reform efforts moving in right direction

June 6, 2010

Congressional attempts to eradicate conflicts of interest from the Wall Street credit agencies' business model are headed in the right direction, to the benefit of all investors. There is clear evidence that the agencies did shoddy work in rating...

The Mutual Fund Store brings advice business to the mass affluent

May 30, 2010

Despite its decidedly mass-market focus, The Mutual Fund Store maintains that client relationships are priority No. 1. “We're not in the mutual fund sales business; we're in the advice business,” said founder and chief executive Adam Bold....

Partners put all their assets in a single basket

May 30, 2010

R. Griffith McDonald and K. Larry Hastie had kept their separate practices for years even after they had joined forces as partners in Retirement Income Solutions Inc. But the decision to roll all their operations into one earned them the top...

Klingenstein Fields plays a new game in sports, entertainment

May 30, 2010

Klingenstein Fields & Co. LLC isn't looking to make a radical break from its tradition of sober asset management for wealthy families. But over the past two years, the eighth-largest firm on the InvestmentNews list of RIA Giants has developed...

Starting from scratch to build a business? Never quit marketing

May 30, 2010

John Krambeer left the commission-based-brokerage industry in 2004 to start his own fee-based firm, Camden Capital Management LLC, and the first few years were “pure hell.” He started out with just a handful of clients, $20 million under management,...

Emphasizing the financial ABCs

May 30, 2010

The most recent market decline has been painful for all investors and no doubt will lead consumers to question the vibrancy of the economic recovery. Ironically, those doubts are likely to result in restrained consumer discretionary spending,...

Adviser gets eight years in jail for stealing from clients

May 28, 2010

Matthew Weitzman, a former principal of AFW Asset Management Inc., was sentenced to 97 months in prison after he pleaded guilty last year to stealing from the firm's clients. Weitzman, 44, also was ordered to pay $7.1 million in forfeiture at...

Ken Starr, financial adviser to the stars, charged with fraud

May 27, 2010

Kenneth Ira Starr, a New York investment adviser with a roster of celebrity clients, was charged by the U.S. government on Thursday of orchestrating a $30 million fraud. Andrew Stein — a onetime borough president of Manhattan and former mayoral...

Starr clients: A look at Kenneth Ira Starr's book of business - Sylvester Stallone

May 27, 2010

Financial adviser Kenneth Ira Starr was arrested today and charged with running a $30 million fraud. He had roughly $1.2 billion in client assets, across 35 high-net-worth individuals, including Sylvester Stallone (above). A list of his other...

High-frequency trading merits close examination

May 23, 2010

The May 6 "flash crash" revealed an area of the financial markets that isn't touched by the financial-reform bills in Congress but nevertheless must be examined. It is the -shadowy world of high-frequency trading, in which 100 to 200 firms use...

WealthTrust founder relinquishes CEO post

May 23, 2010

Rush “Rusty” Benton, who founded WealthTrust LLC in 1997 to buy majority stakes in independent wealth management firms, is stepping down as chief executive of the company and will assume the new role of chairman, he said Thursday. Mr. Benton,...

Pair of RIA founders forced out as roll-up firms feel pressure

May 23, 2010

On consecutive Fridays this month, the founders of two independent wealth management firms that sold majority interests to parent consolidator firms were forced from their jobs. The departures of Scott Roulston from Fairport Asset Management...

House-Senate conference the last chance for fiduciary amendment

May 21, 2010

After more than three weeks of debate, the Senate approved a comprehensive overhaul of financial regulations on Thursday night without acting on fiduciary standards amendments. An amendment proposed by Sens. Robert Menendez, D-N.J., and Daniel...

Bill Gates' father: 'Rich people aren't paying enough' in taxes

May 20, 2010

Bill Gates's father wants the Microsoft Corp. co-founder to pay more in income taxes. Bill Gates Sr., a retired Washington state lawyer, supports a proposed ballot initiative that would require the state's highest earners including himself and...

WealthTrust founder Rusty Benton relinquishes CEO post

May 20, 2010

Rush “Rusty” Benton, who founded WealthTrust LLC in 1997 to buy majority stakes in independent wealth management firms, is stepping down as chief executive of the company and will assume the new role of chairman, he said Thursday. Mr. Benton,...

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