Results for "registered investment advisers (RIA)"

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Retirement plan advisers turning to RIA aggregators to build practices

May 21, 2017

Some retirement plan advisers are turning to so-called "RIA aggregators" that focus on the defined contribution market to help them build their practices, the primary allure being the scale and support afforded by a large, like-minded adviser...

Wells Fargo FiNet loses $275 million team to Raymond James

May 18, 2017

Jeff Holloway and Sean Harman and their team in Kansas City, Mo., have switched affiliations from Wells Fargo Advisors Financial Network to the independent unit of Raymond James. The five-person team, operating as Holloway Harman & Associates,...

Focus Financial inks record RIA deal with SCS Financial

May 15, 2017

In its largest deal yet, RIA consolidator Focus Financial Partners has acquired a majority stake in the revenue stream of Boston-based SCS Financial, a $16.5 billion financial planning firm. The deal, which is Focus' 10th so far this year, represents...

Once dominant, bank custodians still hold a coveted slice of RIA market

May 9, 2017

For most financial advisers, deciding where to custody client assets is all about the big four brand name conglomerates represented by Fidelity, Schwab, TD Ameritrade and Pershing, which control more than $2 trillion in assets. But 30 years...

RIA consolidation hits new high in first quarter

May 9, 2017

The registered investment adviser space rolled into 2017 by consolidating at a record clip, according to the latest report from DeVoe & Co. The first quarter report, released Tuesday morning, counts a record 44 deals during the first three months...

Morgan Stanley financial adviser managing $275 million forms RIA

May 5, 2017

Sam Maxwell, III, who managed $275 million in client assets at Morgan Stanley, has left the wirehouse and created Executive Wealth Group, a registered investment advisory firm. He and Sherry Nelson, his director of client services, are based...

Dynasty Financial lures breakaways with new financing deal

May 3, 2017

Dynasty Financial Partners is launching a new division aimed at providing liquidity options for registered investment advisers. The new unit, Dynasty Capital Strategies, will expand the firm's capabilities to include the purchasing of revenue...

How to take half the year off and still grow your assets by 20% annually

May 2, 2017

Financial adviser Micah Shilanski keeps an unorthodox schedule. He meets with all of his 125 clients every quarter at his office in Anchorage, Alaska, but for six months out of the year he is on the road, traveling with his wife and three young...

Ask the Ethicist: What should an adviser do if their former firm violates a non-compete agreement?

April 28, 2017

Q: I'd like your opinion on something that happened to a friend of mine who recently left his position as a veteran adviser with a wirehouse to go independent. Before he left he mailed a "tombstone" letter to his clients so they were aware that...

Trump's tax plan could be big win for RIAs

April 26, 2017

Registered investment advisers could emerge as unsuspecting beneficiaries of the Trump administration's proposed changes to the corporate tax code. As part of plan to cap the corporate tax rate at 15%, President Donald J. Trump is also proposing...

UBS, Merrill Lynch advisers form $500 million RIA team

April 24, 2017

Three brokers from UBS Financial Services and one from Merrill Lynch in Colorado Springs, Colo., have formed Resolute Investment Advisors and affiliated with HighTower. The firm's principals — Todd Baker, Bradley S. Harvey and Jack T. York,...

TD Ameritrade and Fidelity tweak RIA referral fees ahead of DOL fiduciary rule

April 21, 2017

Client-referral programs at the major custodian firms are being quietly revised in preparation for the Department of Labor's looming fiduciary rule, but some industry analysts still question whether the changes will be enough to pass muster...

Focus Financial's latest private equity partnership puts IPO on back burner

April 19, 2017

Focus Financial Partners is extending its 11-year relationship with private equity investors, raising new questions about the likelihood of the RIA-roll-up going public anytime soon. An announced 70% ownership stake by PE firms Stone Point Capital...

Private equity firms take controlling interest in Focus Financial

April 19, 2017

An investor group led by private equity firms Stone Point Capital and KKR is acquiring a majority stake in Focus Financial Partners, valuing the RIA rollup firm at approximately $2 billion. Selling shareholders include Focus' current private...

Dynasty Financial Partners adds $750 million RIA

April 17, 2017

Next Capital Management, a 13-person registered investment advisory firm in New York managing $750 million in assets, has joined Dynasty Financial Partners. The firm, which was founded in 1999, is led by Andrew Hart, who formerly oversaw a team...

Advisers split on whether cutting fees for clients is good business

April 17, 2017

The increased price transparency of the financial services industry in recent years is leading more clients to ask their financial advisers for a break on fees. Negotiating is fair game to some financial advisers. They're willing to discuss...

Advisers who are already fiduciaries should shout it from the rooftops

April 16, 2017

The concept of fiduciary duty might not yet be fully grasped by consumers, but it is starting to make inroads into mainstream discourse. Clients don't always know what it means to be a fiduciary, but they know they should ask if their adviser...

HighTower CEO confirms it is buying WealthTrust, its biggest deal ever

April 13, 2017

HighTower CEO Elliot Weissbluth confirmed Thursday that his firm is buying WealthTrust, its largest acquisition ever. The addition of WealthTrust's $6.4 billion in client assets lifts HighTower's total client assets to nearly $46 billion, which...

To serve millennials, advisers must adjust not only fees but their mindset

April 10, 2017

When it comes to pursuing, and working with young clients, veteran financial adviser Tim Holsworth is decidedly old school. "I just don't see the point," said the president of AHP Financial Services. "Generally, I don't believe they have any...

HighTower in talks to acquire 10 WealthTrust RIAs

April 7, 2017

Chicago-based jumbo RIA HighTower could add an additional $6.4 billion in assets under management if a deal goes through to acquire most of WealthTrust, a Houston, Texas-based affiliation of RIA firms. According to a report in The Wall Street...

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