Results for "registered investment advisers (RIA)"

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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...

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...

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 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...

Advisers profit through association with Dave Ramsey — but not by as much as in the past

April 7, 2017

Dave Ramsey is a well-known radio personality, author and motivational speaker, known for preaching a gospel of debt-free living to a fan base that appreciates his message and tries to follow his advice. But Mr. Ramsey also has another appreciative...

RIAs say DOL rule delay doesn't matter because industry is moving toward fiduciary anyway

April 5, 2017

Independent financial advisers are generally shrugging off the Department of Labor's 60-day delay of its fiduciary duty regulation, suggesting that the proverbial horse is already out of the barn. "The delay is just delaying the inevitable,"...

Captrust acquires Windsor Financial Group

April 4, 2017

Captrust Financial Advisors has acquired Windsor Financial Group, a 30-year-old RIA firm in Minneapolis that manages $515 million in client assets. The addition of Windsor brings assets under management at Captrust, based in Raleigh, N.C., to...

SEC rejects appeal by Dawn Bennett

April 4, 2017

Former investment adviser Dawn Bennett lost her appeal of an initial decision by the Securities and Exchange Commission that she must pay nearly $4 million for inflating assets and exaggerating investment returns in radio advertisements for...

Betterment co-founder Eli Broverman steps down from day-to-day operations

April 4, 2017

Betterment co-founder and president Eli Broverman has given up day-to-day operation of the digital advice firm to devote his time and energy to finding new technology firms to build. "As Betterment has moved into growth stage, I've gotten the...

Savvy RIAs are waving the fiduciary flag

April 3, 2017

When Joseph Tatusko sent out a press release last month announcing the launch of his new advisory firm, Mill Hill Advisors, the focus was on "fiduciary money management," which speaks volumes about how mainstream the idea of fiduciary has become....

UBS team in Lexington, Ky. leaves to form RIA

March 28, 2017

Jeremy Wallace and Andrew Hart, financial planners at UBS in Lexington, Ky., have left the firm along with partner Jessica Bedell to form Wallace Hart Capital Management. The three managed more than $113 million in client assets at UBS. The...

Fidelity's RIA business: a strong No. 2 that's working harder

March 26, 2017

Fidelity lost its title as the largest mutual fund manager to archrival Vanguard Group in 2003, and in the race for RIA assets, Fidelity also plays second fiddle — in this case, to Charles Schwab & Co. But if you put all of its businesses...

Broker, RIA found guilty of $15 million stock fraud

March 24, 2017

In a case involving 100 investors who lost more than $15 million, broker Christopher Cervino of Franklin Lakes, N.J., and Sheik F. Kahn, a registered investment adviser in Las Vegas, Nev., have been found guilty of securities fraud by a federal...

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