Results for "registered investment advisers (RIA)"

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CAPTRUST acquires Davidson & Garrard, a $700 million RIA

September 20, 2017

CAPTRUST, a Raleigh, N.C.-based RIA, has acquired Davidson & Garrard, a registered investment advisory firm managing $700 million in Lynchburg, Va. Terms of the deal were not announced. The acquisition brings assets under management at CAPTRUST,...

Path to Growth: Why RIA firms leverage M&A as a growth strategy

September 19, 2017

Increasingly, Registered Investment Advisory (RIA) firms are expanding strategic goals, responding to rising competitive pressures and building scale by turbo-charging growth through mergers and acquisitions. Organic growth may still be the...

Adviser files motion to dismiss claim he was involved in fake news about murdered DNC staffer

September 19, 2017

Last month, outspoken financial adviser Ed Butowsky found himself at the center of a bombshell lawsuit that alleged he was directly involved in concocting a phony news story about a murdered Democratic National Committee staffer. On Monday,...

SEC bars former rep for alleged share price manipulation

September 18, 2017

The Securities and Exchange Commission has barred George Thoreson, a former broker with Wells Fargo Advisors, for his alleged role in a scheme to manipulate the reported share price and volume of a penny stock. Mr. Thoreson, who lives in the...

Broker-dealers and RIAs at loggerheads over fiduciary rule delay

September 15, 2017

Broker-dealers and registered investment advisers are very much at odds over any potential delay of the Department of Labor's fiduciary rule. Broker-dealers in a full-throated roar are supporting the Department of Labor's proposed 18-month delay...

SEC warns RIAs about exaggerating investment performance and other misleading advertising practices

September 14, 2017

From touting misleading investment performance to making potentially false references to professional designations, some registered investment advisers are skirting compliance when it comes to industry advertising rules, according to the Securities...

Focus on competency, not compensation method

September 13, 2017

I have been a financial planner for more than 20 years. During that time I have had an opportunity to work at a variety of firms that operated in different business and compensation models. Currently, I serve as vice president and financial...

SEC bars two advisers for cherry-picking clients' trades

September 13, 2017

The Securities and Exchange Commission has barred two state-registered RIAs for allocating trades in client accounts in ways that benefitted the advisers at the expense of clients. California-registered investment adviser Jeremy Licht, who did...

Focus Financial adds $1.5B Eton Advisors to its stable

September 12, 2017

Eton Advisors, a $1.5 billion Chapel Hill, N.C.-based advisory firm, announced Tuesday that it has joined Focus Financial Partners. The deal puts 2017 ahead of the pace of 2016, in terms of industrywide transactions involving firms with more...

Saying you are a fiduciary does not mean you are a fiduciary

September 11, 2017

Have you noticed the plethora of recent headlines of bad advisers cheating clients? In case you missed them, here are a few from just the last few weeks: • SEC says RIA stole $1 million from clients, using some of it to support gambling habit...

SEC censures faith-based RIA over fees

September 11, 2017

The Securities and Exchange Commission has issued a cease-and-desist order and censured Colorado Springs, Colo.-based Envoy Advisory for recommending Class A mutual fund shares to its clients when lower-cost institutional shares of the same...

Harvey and Irma — Reminders that advisory firms need solid continuity plans

September 9, 2017

According to one​ version of Murphy's law, nature always finds the hidden flaw. No doubt Hurricane Harvey uncovered the hidden flaws in the emergency plans of many companies, including financial advice firms, in the Houston and Beaumont areas...

Advisory firms have to stop treating all advisers the same

September 8, 2017

Financial advisory firms that want to nurture the best and brightest advisers need to stop treating everyone at the firm the same way, according to Philip Palaveev, chief executive of The Ensemble Practice. Acknowledging that his advice strayed...

With TD Ameritrade about to acquire Scottrade, Tom Bradley is out

September 8, 2017

With TD Ameritrade Holding Corp.'s acquisition of Scottrade Financial Services Inc. almost done, there was no room left in senior management for Tom Bradley, TD's current head of retail but an executive widely recognized as one of the main leaders...

Mercer acquires RIA with $290 million in AUM

September 8, 2017

Mercer Advisors Inc., a national RIA firm based in Santa Barbara, Calif., has acquired Ray Mignone Associates, a financial planning firm managing $290 million of assets. Joining Mercer will be financial planner Ray Mignone, founder of the firm,...

SEC says RIA stole $1 million from clients, using some of it to support gambling habit

September 7, 2017

The Securities and Exchange Commission has charged a New Jersey-based tax preparer and RIA with stealing more than $1 million from clients to support his gambling habit and other personal expenditures. The SEC alleges that Scott Newsholme, a...

Bob Veres predicts new investment model that could give advisers edge over competition

September 7, 2017

In the future, advisers will subscribe to communities of asset managers for investment strategies that they will use to make decisions about client portfolios, according to Bob Veres, who delivered the keynote address at the Insider's Forum...

Advisers in Florida brace for Hurricane Irma's wrath

September 6, 2017

Financial advisers in Florida are gearing up for Hurricane Irma as the storm — one of the most powerful ever recorded in the Atlantic — bears down on the region. "We're in full-contingency, emergency-plan mode here," said Richard Steinberg,...

Finra panel awards Edward Jones $340,000 in estate dispute

September 1, 2017

A Finra arbitration panel in Memphis, Tenn. has found that a military man acting as power of attorney for a client of Edward Jones should reimburse the firm for the damages it paid to the client, who is deceased. In its award, the Financial...

The challenge of the longer lifespan

September 1, 2017

"Live long and prosper," Star Trek's Mr. Spock and his fellow Vulcans liked to say as a valedictory blessing. But for most people, living long will pose the greatest threat to their prosperity, cautions "We'll Live to 100 – How Can We Afford...

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