Results for "registered investment advisers (RIA)"

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Advisers must find their "unfair advantage" - Canter

March 26, 2017

For David Canter, it's quality, not quantity, that matters for Fidelity's investment adviser segment. But bigger is better, too. Mr. Canter took over as head of the registered investment adviser segment of Fidelity Clearing & Custody Solutions...

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...

RIAs make the case for charging on a client's total net worth

March 21, 2017

Seventeen years ago, when Brighton Jones launched as an advisory firm billing clients based on their total net worth, it was a rare and innovative fee structure in the financial planning business. Today, with the financial services industry...

Fidelity's David Canter makes financial advice his Boston Marathon cause

March 20, 2017

David Canter, the newly appointed head of the RIA segment at Fidelity Custody & Clearing Solutions, will be running next month's Boston Marathon with the financial planning industry top of mind. Mr. Canter, 48, has named the CFP Board's Center...

Advisor vs. Adviser: The "Os" have it!

March 17, 2017

In the long running battle over whether someone who gives professional advice is an "adviser" or an "advisor," the "o" side is clearly winning. An InvestmentNews survey of more than 550 readers found that nearly 83% refer to themselves as an...

RIAs take a soft approach to cross-selling

March 10, 2017

Registered investment advisers are under increased pressure to grow their business and deepen client relationships, which forces them to sell their full spectrum of services to as many clients as possible. Thus, RIAs have become masters of the...

Cybersecurity, markets and fee pressure top RIA concerns

March 9, 2017

Cybersecurity and the possibility of a market correction are at the top of the worry list for executives of investment advisory firms. One-hundred percent of the RIA firm leaders surveyed by their trade group, the Investment Adviser Association,...

Fidelity puts David Canter in charge of RIA segment

March 6, 2017

David Canter has been appointed head of the RIA segment at Fidelity Clearing & Custody Solutions, succeeding Bob Oros, who left the company in January to take over as CEO of HD Vest Financial Services Inc. Mr. Canter, 48, joined Fidelity in...

Tighter SEC budget likely to keep RIA audits few and far between

March 6, 2017

The SEC's track record of auditing registered investment advisers on average only about once every 10 years isn't likely to change anytime soon. Even though the commission reported a slight uptick in exams last year, to 11% of all RIAs, the...

RIA Marc Broidy pleads guilty to stealing $1.5M from clients

March 3, 2017

Marc Broidy, the founder and chief executive of Broidy Wealth Advisors in Los Angeles, has pleaded guilty in federal court to withdrawing $640,000 in excess management fees from client accounts and misappropriating more than $865,000 worth of...

RIAs embrace the tough-love feedback of advisory boards

February 28, 2017

It takes a thick skin to invite outsiders to rigorously critique your financial planning business, but some financial advisers wouldn't have it any other way. "I show them my business plan, and I usually get beat up pretty good, but it has helped...

More reps plan shift to fees post-DOL: Cerulli report

February 27, 2017

Nearly two-thirds (64%) of broker-dealer advisers plan to shift more of their business to a fee-based model if the Department of Labor's fiduciary rule is put into effect, according to a report from Cerulli Associates. The advisers believe the...

Discount pricing could lure more RIAs to outsource asset management

February 23, 2017

As the trend toward outsourced investment management continues to gain traction among financial advisers, simple economics suggests that the cost of that asset management will come down. That's the basic premise and business model being deployed...

Breakaway UBS, Morgan Stanley teams form $750M RIA

February 23, 2017

Advisory teams from Houston offices of UBS and Morgan Stanley that collectively managed $750 million have formed Icon Wealth Partners and affiliated with Dynasty Financial Partners. The new firm is headed by Mark McAdams and Steve Schwarzbach,...

HighTower adds $160M advisory group from UBS

February 21, 2017

The Kelly & Wohlner Group, formerly with UBS, has joined HighTower's platform for registered investment advisers. The Denver-based team manages $160 million in assets and is HighTower's first member firm in Colorado, the company said in a release....

Six Morgan Stanley reps with $700M in combined AUM join Steward Partners

February 21, 2017

The latest expansion by Steward Partners Global Advisory moves six Morgan Stanley reps and nearly $700 million across the street in Clearwater, Florida to Steward's first office outside the Northeastern U.S market. The moves, involving three...

Winners and losers in the murky DOL fiduciary rule implementation

February 21, 2017

There's plenty of speculation as to what will happen with the implementation of the Department of Labor rule that holds advisers for retirement plan participants to the fiduciary standard. Whether the rule is delayed, amended or implemented,...

It's up to advisers to know their custodial status

February 17, 2017

As somebody once said, it's the little things in life that get you; you can sit on a mountain but you can't sit on a pin. For financial advisers, one of those little things could take the form of a password or username for a client's online...

Mercer Advisors acquiring its way to national family office status

February 17, 2017

For more than 20 years leading up to the 2008 financial crisis, the Mercer Advisors business model was simple, straight forward and working quite nicely. A strict focus on the lucrative world of dental practice business consulting services provided...

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