Results for "registered investment advisers (RIA)"

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Scottrade advisers test custodial waters

August 7, 2017

As TD Ameritrade Holding Corp. closes in on its September acquisition of Scottrade Financial Services, some competitor custodians have been quietly watching, waiting and rolling out the red carpet to Scottrade advisers who might choose to leave...

Adviser denies any role in fake news story about murdered DNC staffer

August 4, 2017

Outspoken financial adviser Ed Butowsky, who earlier this week found himself at the center of a bombshell lawsuit alleging he was directly involved in concocting a phony news story about a murdered Democratic National Committee staffer, said...

Ex-Morgan Stanley executive acquires two broker-dealers, 500 advisers

August 3, 2017

Doug Ketterer, who retired two years ago as Morgan Stanley's head of strategy and client management, is launching a new wealth management firm by buying two independent broker-dealers with nearly 500 advisers and more than $30 billion in assets...

Thrivent acquires $7 billion RIA Ronald Blue & Co.

August 2, 2017

Thrivent Financial, which manages and advises on $116.5 billion in assets, has acquired the assets of Ronald Blue & Co., an RIA firm in Atlanta managing $7 billion in assets. Terms of the acquisition were not disclosed. The RIA firm will become...

Assets at RIAs growing at 5.8%: report

August 1, 2017

Assets under management at registered investment adviser firms grew 5.8% to $70.7 trillion, and the number of firms increased by 2.7% to 12,172, according to the latest annual report from the Investment Adviser Association and NRS based on ADV...

RIAs less optimistic about economy and stock market

August 1, 2017

​ After reaching new highs at the start of the year, optimism about the economy and the stock market has slipped among registered investment advisers, according to a mid-year survey of RIA sentiment from TD Ameritrade Institutional. Sixty...

Why RIAs are the future of financial advising

July 31, 2017

For years the Registered Investment Advisor (RIA) model has been growing in prominence. And now forces are converging to fundamentally transform financial advising in the model's favor. Investors are demanding more from the companies they work...

HighTower's president resigns

July 31, 2017

HighTower Advisors has a new vacancy at the top, following the departure of company president Michael LaMena. Mr. LaMena resigned to become president and chief operating officer of Bronfman Rothschild, a Rockville, Md.-based registered investment...

Fidelity Investments fires another salvo in the fee wars

July 31, 2017

The great fee war rolls on: Fidelity Investments Monday announced fee cuts to 14 of its stock and bond index funds, saying that they now have cheaper comparable funds than archrival Vanguard. The average expenses across Fidelity's stock and...

Hanson McClain sells majority interest to private equity firm

July 27, 2017

Hanson McClain Advisors, a Sacramento, Calif.-based registered investment adviser managing $2.4 billion in assets, has sold a controlling interest to Boston-based private equity firm Parthenon Capital Partners for an undisclosed sum. The firm...

United Capital buys three RIAs, adds $758 million

July 25, 2017

United Capital Financial Advisers announced the acquisition of three separate independent financial advisory firms, with $758 million in combined assets under management. The deals, marking United Capital's first this year, bring the Newport...

Near-record pace of M&A continues for RIA firms

July 24, 2017

While slower than the torrid pace of consolidation in the first quarter, a near-record 38 RIA firm deals took place in the second quarter, according to the latest report from DeVoe & Co. The April-through-June total of mergers and acquisitions...

Wells Fargo team managing $351 million in Gainesville, Georgia, goes independent

July 20, 2017

A four-adviser team managing $351 million at Wells Fargo Advisors in Gainesville, Georgia, has created an independent hybrid firm whose brokerage unit is affiliated with LPL. The hybrid, Strong Gaddy Lee Wealth Management, said that Integrated...

SEC fines KMS Financial Services $100,000 for conflicts of interest

July 20, 2017

KMS Financial Services, a Seattle-based hybrid RIA firm, has settled charges that it failed to disclose conflicts of interest stemming from receiving revenue from a third-party broker-dealer. Without admitting or denying the SEC's findings,...

Merrill Lynch trio managing $463 million joins Ameriprise

July 20, 2017

Stan Leavitt, who managed $463 million in assets at the Roseville, Calif., office of Merrill Lynch, has joined the employee unit of Ameriprise Financial Services there with advisers David Pratt and Rachael Morton. Mr. Leavitt began his career...

Focus Financial adds $2.3 billion Texas RIA

July 19, 2017

Brownlie & Braden Advisors, a registered investment advisory firm headquartered in Dallas, Texas, that manages $2.3 billion in assets, has joined Focus Financial Partners. The RIA firm was founded in 1997 by Smith A. Brownlie III and James E....

Indie BD managing $520 million becomes OSJ

July 18, 2017

HBW Securities, an independent broker-dealer based in Simi Valley, California, is giving up its broker-dealer status and becoming an office of supervisory jurisdiction with Cetera Advisor Networks. HBW's 55 affiliated financial advisers and...

SEC bars adviser to Tim Duncan and obtains judgment

July 14, 2017

The Securities and Exchange Commission has barred Charles A. Banks IV from the securities industry and obtained a judgment against the former Atlanta-based investment adviser to retired basketball star Tim Duncan. According to the SEC's complaint,...

Median RIA firm had 25% operating margins in 2016: Schwab

July 14, 2017

The median registered investment advisory firm had operating margins of 25% in 2016 and assets under management of $593 million, according to the latest RIA Benchmarking Study from Charles Schwab. Median firm AUM has increased at a 10% five-year...

DFPG Investments acquires RIA managing $220 million

July 14, 2017

DFPG Investments Inc., a broker-dealer and registered investment adviser in Salt Lake City, Utah, has acquired Provo, Utah-based Riggs Capital Management, which manages $220 million in assets. The addition of Riggs Capital, brings DFPG's assets...

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