Results for "registered investment advisers (RIA)"

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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...

Taking the plunge and becoming an RIA

October 4, 2017

We have nothing to fear but fear itself. Franklin Roosevelt said that to a troubled nation in the depths of recession many years ago. Although my experience is by no means comparable, when I first decided to "go independent" I felt like the...

Navigating the planning gap

October 3, 2017

The following is an excerpt from a new research study, “The planning gap”, which was co-developed by InvestmentNews Research and Nationwide. The research is based on survey responses from 1,741 individual investors, as well as a companion...

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...

The importance of managing clients' 'life risks'

October 3, 2017

The following is an excerpt from a new research study, “The planning gap”, which was co-developed by InvestmentNews Research and Nationwide. The research is based on survey responses from 1,741 individual investors, as well as a companion...

Why operations teams are the unsung heroes behind breakaways

September 20, 2017

The breakaway movement has continued to gain headlines as more teams have make the leap to the RIA channel. Most articles surrounding recent breakaways tend to focus on how much assets the adviser has managed, the adviser's experience in the...

SEC charges California RIA and its owner with account statement fraud

October 4, 2017

The Securities and Exchange Commission has charged a California advisory shop, Tweed Investment Services Inc., and its owner with fraud for allegedly issuing false and misleading account statements that inflated investment profitability. The...

Long-time FiNet executive buys stake in $800 million firm

October 3, 2017

An earlier version of this story incorrectly identified Collins Investment Group as a registered investment advisory firm. Richard J. Calhoun, Jr., formerly a managing director at Wells Fargo who spent nearly 10 years building its FiNet independent...

Durbin gets promoted again, this time to lead Fidelity Institutional

October 3, 2017

Less than 10 months after taking over as head of Fidelity Institutional's product and platform technology group, Michael Durbin is moving up the ladder once again to take his boss' job, as head of Fidelity Institutional, where he will be responsible...

SEC Chairman Jay Clayton doesn't intend to pursue third-party RIA exams

September 28, 2017

Farming out examinations of registered investment advisers to the private sector is not a policy that Securities and Exchange Commission Chairman Jay Clayton wants to pursue. For years, the agency has been criticized for the low percentage of...

SEC says Colorado RIA lied about experience and past performance

September 25, 2017

The Securities and Exchange Commission has charged Moses Investment Co. and its owner, Michael Moses, with fraud for lying numerous times to investors while raising money for a proprietary hedge fund. From approximately November 2013 to April...

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...

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,...

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 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...

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...

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...

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...

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...

Connecticut RIA gets five years for scam

August 29, 2017

A federal judge in Connecticut has sentenced adviser Aaron Johnson to five years in prison for defrauding 19 clients in his investment business of $620,000, and ordered him to pay full restitution. Mr. Johnson, 37, was arrested on Feb. 17, 2016,...

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