Results for "registered investment advisers (RIA)"

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A third-party cyber attack is your firm's problem

November 21, 2017

Recent high-profile cyberattacks underscore the importance of tracking how and where client data is used, transferred and stored by third party vendors to RIAs. The reality is, "the cloud" is not – and never was – a cybersecurity solution....

An American Thanksgiving

November 21, 2017

Last week while I was at the Schwab Impact conference in Chicago, the country I grew up in had a revolt that placed 92-year-old President Robert Mugabe into military confinement. Until yesterday, he had led Zimbabwe since 1980, when I was a...

Women can help themselves and other women in financial advice

November 20, 2017

No question, there is a need for more women in the financial adviser field, given their distinctive capabilities and the changing client demographics. And change in the industry is definitely underway. Yet many firms still haven't achieved a...

'Affiliation arbitrage' is a bad reason to go RIA

November 16, 2017

The past several years have witnessed a surge in the number of independent financial advisers who have established their own RIAs – often motivated by the desire to achieve a form of "affiliation arbitrage." By sidestepping broker-dealer and...

Schwab execs sound off on Bitcoin, HSAs and Morgan Stanley exit from broker protocol

November 15, 2017

Bitcoin may be quickly gaining popularity as an emerging investment, but it's more likely to be disrupted by governments than to be a disrupter itself, a Charles Schwab & Co. Inc. executive said on Wednesday. Since the beginning of the year,...

Fidelity's eMoney Advisor partners with Schwab

November 15, 2017

Financial planning technology firm eMoney Advisor plans to integrate with Schwab Advisor Services' OpenView Gateway, eMoney announced today at the annual Charles Schwab IMPACT conference in Chicago. The move is interesting given the competitive...

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...

Breakaway broker deals a drag on M&A activity in third quarter

November 7, 2017

A recent slowdown in the pace of reps leaving brokerage firms is seen as largely responsible for the sudden dip in merger and acquisition activity in the advisory space, according to the latest report from DeVoe & Co. The question now, is whether...

Houston RIA charged in $1.9M elder swindle gets five years

November 2, 2017

A federal judge in Texas sentenced state registered investment adviser Lawrence Allen DeShetler to 60 months in prison and ordered him to pay restitution of $948,058 for defrauding clients of $1.9 million. After an investigation by the Texas...

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....

Why Wirehouse Advisors Shouldn't Fear Going Independent

November 1, 2017

In my role as vice president, field development at Commonwealth Financial Network®, I talk to a lot of financial advisors about how our firm can help them build the business they've always wanted. For advisors already in the independent channel,...

Morgan Stanley loses $150 million team in Utah

October 30, 2017

David Johnston and his son Keith Christopher (KC) Johnston have left Morgan Stanley in Provo, Utah, where they managed $150 million, to affiliate with Kestra Private Wealth Services, a hybrid RIA. The two will operate as White Cap Wealth Management...

SEC task force targets retail investor fraud at the adviser level

October 26, 2017

A new Securities and Exchange Commission enforcement initiative will target retail investor harm that occurs when clients work with investment advisers, an SEC official said on Thursday. Stephanie Avakian, co-director of the SEC Division of...

RMB Capital to acquire Jacobus Wealth Management

October 26, 2017

RMB Capital, a Chicago-based RIA managing $8.4 billion, is acquiring Jacobus Wealth Management, a Milwaukee, Wisc.-based registered investment adviser that manages $860 million. The acquisition, terms of which were not disclosed, is scheduled...

Indie team managing $172 million leaves Mid Atlantic Capital

October 25, 2017

Jack Elgin and Neven Zelich, who managed $172 million as independents affiliated with Mid Atlantic Capital Corp., have joined the franchise channel of Ameriprise Financial. The team, based in Canton, Ohio, includes a paraplanner and two assistants....

Private equity firm Thomas H. Lee Partners buys stake in HighTower

October 25, 2017

This story has been updated with comments from industry consultants and additional quotes from Elliot Weissbluth. HighTower has announced plans to sell a "significant stake" of its sprawling advisory business to private-equity investor Thomas...

Ric Edelman looks into the future of financial advice

October 24, 2017

Here are some high notes from Ric Edelman's latest book, "The Truth About Your Future: The Money Guide You Need Now, Later, and Much Later" (Simon & Schuster, 2017). Expect to live longer, work longer, and get more free stuff, says the the executive...

T. Rowe Price steps up its game to serve financial advisers

October 21, 2017

T. Rowe Price rode the no-load revolution of the 1980s and 1990s, spurning brokers, advisers and the sales loads that enticed them. And to this day, the vast bulk of its $938 billion in assets remains in no-load shares. But in the last few years,...

E*Trade gains a foothold in the RIA space, but it is going up against bigger competitors

October 20, 2017

E*Trade Financial Corp.'s acquisition of Trust Company of America is seen as a solid endorsement of the strength and profitability of the financial advisory business. The $275 million deal to buy the $17 billion-asset Denver-based custodian,...

E*Trade acquiring custodian Trust Company of America

October 19, 2017

E*Trade said Thursday it is buying Trust Company of America for $275 million in cash. Josh Pace, president and chief executive of Trust Company of America, said in a letter to the firm's investment-adviser clients that the transaction will close...

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