Results for "registered investment advisers (RIA)"

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DOL rule may be history, but a fiduciary standard still in the works

March 16, 2018

The latest body blow to the Department of Labor's fiduciary rule continues to divide the financial advice industry. "It's a shame we keep having these conversations when we should just put our foot down, because there shouldn't be an argument...

Advisers complain to SEC about inadvertent custody

March 15, 2018

A Securities and Exchange Commission official said Thursday that the agency is working to clear up confusion about how investment advisers may inadvertently be deemed as having custody of client funds. The questions arise from a guidance update...

New RIAs are happier and prospering, says Schwab study

March 13, 2018

Registered representatives who recently jumped ship from a brokerage firm and dived into the RIA registered investment adviser channel are happier and doing better financially than they were at their old firms, a new study from Schwab finds....

Private equity dollars pouring into wealth management, fintech

March 7, 2018

Private equity investors continue to pour into the wealth management space, according to the latest research from Echelon Partners. A report being released today by the investment banking firm shows growing private equity influence on both advisory...

Merrill Lynch rep managing $150 million moves to Raymond James

March 6, 2018

Phil Closuit, who managed more than $150 million in assets at Merrill Lynch in Boston, has jumped to the employee unit of Raymond James & Associates. Joining him in the move is Jane Fitzwilliam, a registered associate, who has worked with Mr....

Brokers managing $425 million exit Wells Fargo to form RIA

March 6, 2018

A group of brokers who managed more than $425 million at Wells Fargo Advisors in Portland, Ore., have left the firm to form JGP Wealth Management, an independent registered investment advisory, which will be headquartered in Portland. The firm...

Mercer acquires $420 million Traust Sollus

March 5, 2018

Mercer Advisors Inc. has acquired Traust Sollus Wealth Management, a registered investment adviser managing $420 million in assets. Traust Sollis, which has offices in New York and Princeton, N.J., was founded as a certified public accounting...

Ron Carson still raking LPL over the coals

March 1, 2018

A year after ending his broker-dealer relationship with LPL Financial, the founder and chief executive of Carson Group took to the airwaves Wednesday afternoon to underscore that his reasons for leaving continue to be justified. "In my opinion,...

How market moves affect advisers' bottom line

February 27, 2018

Over the long run, markets rise, and​ for that reason, advisory or wealth management fees based on a percentage of assets managed are a long-term win for passively growing advisory firm revenue. While quarterly billing dilutes the effects...

Charles Brandes steps down as chairman of investment firm

February 27, 2018

Charles Brandes, founder and chairman of Brandes Investment Partners, has retired from the firm following a divorce dispute that included mutual allegations of domestic violence involving his estranged wife. "I cannot, and will not allow my...

Ohio RIA with $4 billion in assets to join Focus Financial

February 23, 2018

Bartlett & Co., a Cincinnati, Ohio-based registered investment adviser managing more than $4 billion in assets, has joined Focus Financial Partners. Terms of the arrangement, in which Focus took an equity stake in Bartlett and Bartlett took...

SEC charges Strong Investment Management and owner with 'cherry-picking' trades ​

February 22, 2018

The Securities and Exchange Commission has filed a complaint in federal court in California against Yorba Linda, Calif.-based Strong Investment Management and its president and sole owner, Joseph B. Bronson, for operating a scheme that defrauded...

Can you delegate practice management?

February 21, 2018

Just a decade ago, I would hear advisers say: • "I want to spend my time only on seeing clients — nothing else." • "I hate anything to do with human resources because I'm not good at it." • "I don't need all that practice management...

The gold medal quality advisers can no longer ignore

February 20, 2018

As the 2018 Winter Olympics continue to generate headlines around the world, I've taken notice of what these athletes must inherently possess just to qualify for the Olympics, let alone win a medal. They're the gold standard for their respective...

If Finra eases firm oversight of outside business activities, broker-dealers could lose revenue

February 15, 2018

A pending Finra proposal to ease the requirement that brokerages supervise their representatives' work with unaffiliated registered investment advisers sounds like regulatory relief. But some brokerages are worried about the price for losing...

RIA owners should know what their firm is worth, but many don't get valuations

February 15, 2018

Nothing perks up the owner of a financial advisory firm quite like a conversation about valuations, but for some reason most firm owners never make the effort to determine exactly what their business is worth until they're being acquired. "I...

Don't sell your soul for a large transition package

February 14, 2018

In the 16th century book, Faust sells his soul to the devil, Mephistopheles, in exchange for 24 hours of tutelage in black magic. It was a decision he would later regret. As a financial adviser in today's world, you may be "tempted" with very...

Mercer Advisors adds $364M RIA in its third deal of 2018

February 13, 2018

Mercer Advisors has pushed its assets under management above the $12 billion mark with its latest acquisition of Clearwater, Fla.-based GFS Private Wealth. GFS, which has $364 million under management, represents the third acquisition this year...

New York adviser sentenced to six months for insider trading

February 13, 2018

Tibor Klein, a Long Island, N.Y., investment adviser, was sentenced to six months in prison on Monday after pleading guilty to insider trading in connection with Pfizer Inc's $3.6 billion acquisition of King Pharmaceuticals Inc. in 2010. U.S....

Massachusetts regulator mulls greater fee disclosure

February 8, 2018

Securities regulators in Massachusetts are asking for comments on a proposed regulation that would require investment advisers registered with the state to create a fee table to be given to new and existing advisory clients. "Recent changes...

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