Results for "registered investment advisers (RIA)"

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TD Ameritrade launches fintech competition with $100,000 in prizes

July 16, 2018

TD Ameritrade Institutional is looking outside the industry for help keeping pace in the accelerating adviser technology race. On Monday, the firm kicked off Innovation Quest, a crowdsourced fintech competition distributing $100,000 in prizes...

LPL loses custody business of RIA managing $1.3 billion

July 13, 2018

Fragasso Financial Advisors, a Pittsburgh, Pa.-based RIA managing $1.3 billion, is moving its custodial relationship from LPL Financial to TD Ameritrade. The firm also said it will move its small, legacy brokerage business to Private Client...

Fidelity offering model portfolios

July 12, 2018

Fidelity Investments is jumping on the model portfolio bandwagon. The Boston-based custodian with $7 trillion in assets under advisement launched on Thursday the Fidelity Target Allocation Model Portfolios, which offers five different asset...

Average client assets top $2 million for first time

July 12, 2018

The average client assets topped $2 million for the first time at independent advisory firms with over $250 million in AUM, according to Charles Schwab's latest RIA Benchmarking Study. That's the most per-client asset under management since...

What the fastest growing RIAs have in common

July 12, 2018

Business is booming for registered investment advisers. Regardless of firm size, independent firms are experiencing strong five-year compound annual growth in key metrics like assets under management, revenue and number of clients, according...

House panel approves bills to adjust regulations for small RIAs, protect senior investors

July 11, 2018

The House Financial Services Committee approved a bill Wednesday that could adjust regulations to better fit small investment advisory firms The panel also approved a measure that would require the Securities and Exchange Commission to establish...

Eight advisers managing $616 million join Benjamin Edwards

July 11, 2018

Eight advisers managing $616 million have joined St. Louis-based Benjamin F. Edwards & Co. Five of the advisers — the father-and-son team of David and Tyler Herr in Chandler, Ariz.; Bill Raymon in Birmingham, Ala.; James Garner in Atlanta;...

Fired Merrill Lynch star broker Bruce Lee starts own RIA

July 11, 2018

A former star Merrill Lynch adviser in Chicago who was fired in April has opened his own RIA. The adviser, Bruce K. Lee, opened Keebeck Wealth Management and has been registered there since Monday, according to his BrokerCheck report. A perennial...

SEC censures, fines advisers for Yelp endorsements

July 11, 2018

The Securities and Exchange Commission has charged three advisers for violating the testimonial rule by promoting their business on Yelp. According to separate SEC filings, Jaime Biel, William Greenfield and Brian Eyster hired Leonard Schwartz,...

Michael Duffy and Happiness Wealth Management join LPL Financial

July 9, 2018

Michael Duffy and his firm, Happiness Wealth Management, have joined LPL Financial. The firm, which is based in San Carlos, Calif., joined LPL's broker-dealer and hybrid registered investment adviser platforms. Mr. Duffy has authored five books,...

Adviser serves Hispanic clientèle in Puerto Rico and the mainland

July 7, 2018

The day after Hurricane Maria hit Puerto Rico, Eduardo J. Ramos returned to business as usual at Freedom Advisory, the registered investment advisory firm he started 10 years ago in San Juan. The firm is one of just a handful of independent...

Even after SEC's additional guidance, custody remains complicated rule for investment advisers

July 6, 2018

Recent guidance from the Securities and Exchange Commission about investment advisers' custody of client funds cleared up one aspect of the regulation but didn't go far enough to illuminate the complicated rule, according to compliance experts....

SEI has new approach to improve technology adoption by advisers ​

July 3, 2018

SEI Advisor Network, a turnkey asset management platform and custodian serving 7,500 advisers, is trying a new approach to developing technology that it hopes will solve the adoption challenge. The firm assembled a team of 25 of its most successful...

New digital Fidelity platform will let consulting firms bid for adviser projects

July 2, 2018

Fidelity Clearing & Custody Solutions is preparing to roll out a digital referral program to connect financial advisers with a range of industry consulting services, including marketing, technology and regulatory guidance. The platform, which...

When it comes to the proposed SEC advice rule, words matter

June 29, 2018

Words matter. As the Securities and Exchange Commission collects comments on its proposal to revamp the standard of conduct for brokerage firms, officially known as Regulation Best Interest, key terms — what they mean, how they are used, and...

Edward Jones, Commonwealth Financial top J.D. Power list of top brokerage employers

June 28, 2018

When it comes to workplace satisfaction among broker-dealers, some firms stand out from the pack. According to the latest research from J.D. Power, Commonwealth Financial, Raymond James Financial and Cambridge Investment Research fill the top...

Wells Fargo loses $450 million hybrid to LPL

June 28, 2018

Rockline Wealth Management, a hybrid firm that managed $415 million when its principals were affiliated with Wells Fargo Advisors, has affiliated with LPL and will use the firm's corporate registered investment advisor platform. Rockline, which...

Upstart RIA uses access to alternatives to recruit advisers

June 28, 2018

A fledgling New York-based financial advisory firm aims to make a big splash as a consolidator by baiting the hook with access to sophisticated investments. Third Seven Advisors, which has absorbed two advisory practices for a total of nearly...

Trap Kloman to become president and COO of Commonwealth Financial

June 27, 2018

Rich Hunter, the president and chief operating officer of Commonwealth Financial Network, the nation's largest independent registered investment adviser/independent broker-dealer, is stepping down from the position. Managing principal and chief...

Private-equity veterans build $2 billion advisory firm from scratch

June 26, 2018

The wealth management space has become an attractive target of deep-pocketed private-equity investors, but rare is the private-equity investor launching a financial advisory firm from scratch. Enter Cresset Capital Management, a 1-year-old Chicago-based...

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