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Veteran PNC Wealth Management rep goes independent

January 5, 2017

Matthew Pietzak has left PNC Wealth Management to launch his own firm, Vantage Private Wealth, based in Naples, Fla. Mr. Pietzak, who oversaw more than $300 million at PNC, will be offering financial planning and investment management services...

Steward Partners nears $5B as it continues to recruit wirehouse reps

January 3, 2017

The first hurdle for any wirehouse rep hoping to join Steward Partners Global Advisory is the “no-jerk policy,” which company founders say is more important than experience or assets under management. “We want great people, first, who...

Finding the Right Ecosystem

January 2, 2017

The rise of companies utilizing financial technology (fintech) over the past five years can no longer be ignored by traditional wealth managers and established financial services firms. Capitalizing on digitalization, big data, social media,...

Mercer Advisors acquires California RIA Fabian Wealth Strategies

December 14, 2016

Santa Barbara, Calif.-based Mercer Advisors announced Wednesday morning that it has acquired Fabian Wealth Strategies, a Costa Mesa, Calif.-based advisory firm with $95 million in client assets. Mercer Advisors is the parent company of Mercer...

Aspiriant picks up $850M Silicon Valley RIA

December 12, 2016

The growth continues for Aspiriant, as the Los Angeles-based advisory firm is about to lock up its third RIA transaction in a year, with at least two more deals slated in coming months. In the latest deal, which is expected to close Jan. 31,...

Best Buy founder among outsiders betting on financial advice firms

November 22, 2016

The demand for advisory firms to grow larger and larger has some reaching out to strange bedfellows for financial support. Best Buy founder Richard M. Schulze is among the investors who recently took a 25% stake in Meristem Family Wealth, a...

Ask the Ethicist: How to make a U-turn after retirement

November 21, 2016

This month's question concerns a woman who worked for many years in wealth management before retiring to an hourly consulting practice. Now she's thinking of returning to the workforce at a registered investment adviser firm. Q: I worked for...

Top reasons for independent advisers to consider a merger instead of an acquisition

October 20, 2016

Among the independent financial adviser community, merger and acquisition discussions tend to revolve purely around acquisitions. But mergers also represent a very useful strategic path. By merger, I am referring to the joining together of two...

More than 1/4 of financial advisers plan to exit industry or merge firms: survey

September 29, 2016

A quarter of financial advisers are planning a dramatic change in the way they operate their business within the next three years, a new survey found. About 27% of advisers said they intend to sell their business, merge with another firm, retire...

Industry, adviser groups raise concerns about SEC's business continuity proposal

September 8, 2016

Industry and adviser groups agree with the intent of a Securities and Exchange Commission proposal to require more rigor from financial advisers in planning for unexpected disruptions to their business. But in comment letters to the agency,...

Advisers have a fiduciary duty to put robust business continuity plans in place

September 2, 2016

Last year, the North American Securities Administrators Association — the organization representing state securities regulators — adopted a model rule to require state-registered investment advisers to establish business continuity and succession...

Adviser's Consultant: Building diversity at firms makes business sense

August 24, 2016

Marguerita Cheng said for the bulk of her clients, she is the first adviser they've ever seen. About half of the families that Blue Ocean Global Wealth serves are ethnically diverse, and she's most confident that these clients won't be walking...

The succession discussion has to change

August 4, 2016

Succession planning is a dirty word. How can I say this—being that I consult with advisers about succession all the time? Ten years ago, approximately 20% of advisers had a succession plan. Today, despite years of events, articles and software...

Sequoia Financial's deal to buy RAV Financial boosts assets to $3 billion

June 28, 2016

Sequoia Financial Group is buying RAV Financial, increasing the registered investment advisory firm's assets to about $3 billion. RAV Financial, which provides financial planning to high-net-worth individuals, has about $400 million of assets...

The time is now for young financial advisers

May 29, 2016

After graduating from college, Eric Roberge worked at two investment banks and then four different advisory firms within five years, unable to find a company where he felt comfortable. After he decided to start his own firm, he was forced to...

With mergers poised to increase, are you ready for the next step?

April 21, 2016

The financial services industry is on edge right now as advisers scramble to figure out just what the new Department of Labor fiduciary regulations will mean for their businesses. Advisers who are already part of larger ensemble practices are...

Get the most out of your next staff retreat

April 19, 2016

Many financial advisory firms find getting together to talk business away from the office can spark innovative solutions to problems and make colleagues more cohesive. “Being completely away off-site fosters creativity and helps you think...

It's time to make way for next-gen

April 3, 2016

A power shift is under way in our industry. Baby boomer and next-gen advisers are like seismic plates shifting underground, with one group poised to become more powerful as the other slowly fades. This change may not happen without a volcanic...

10 best ways to execute a succession plan

March 21, 2016

Holding on to a firm’s clients during a sale should be a priority for the buyer and especially the seller, since the number of clients who stay can have a direct impact on the amount of money that is paid for the practice, or book of business....

The keys to successful succession planning

March 20, 2016

Adviser Neil Hokanson spent several years considering different succession strategies for his $570 million advisory firm, which he had nurtured for 25 years. He wanted a deal that was reasonable for Hokanson Associates' five shareholders and...

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