Results for "registered investment advisers (RIA)"

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CAPTRUST acquires $19B RIA in its sixth deal this year

August 22, 2017

CAPTRUST, one of the nation's largest diversified investment advisory firms, has completed its sixth acquisition of the year by folding in Tampa-based CapTrust Advisors, a $19 billion firm. The deal brings Raleigh, N.C.-based CAPTRUST to $243...

Merrill Lynch loses $200 million team to Raymond James

August 22, 2017

The father-and-son duo of John R. Edgecomb Sr. and John Robb Edgecomb Jr. have left Merrill Lynch in Texas and joined the employee unit of Raymond James & Associates, where the junior Mr. Edgecomb will also manage the firm's Austin-Barton Hills...

Los Angeles RIA charged with defrauding athlete and wife

August 22, 2017

The Securities and Exchange Commission has charged Jeremy Drake, a Los Angeles-based RIA, with defrauding a professional athlete and the athlete's wife, by deceiving them about the investment advisory fees they were paying. The SEC alleges that...

SunTrust rep managing $260 million goes indie

August 21, 2017

Andrew Hill, an adviser whose team managed $260 million in assets at SunTrust Investment Services, has launched a hybrid firm and has affiliated with HighTower. Mr. Hill's firm, Hill Wealth Management, is based in Alpharetta, Ga. Mr. Hill has...

Mercer Advisors acquires Blue Moon Wealth Advisory

August 16, 2017

Mercer Advisors, a Santa Barbara, Calif.-based RIA managing about $11 billion in assets, has acquired Blue Moon Wealth Advisory, a Bellevue, Wash., financial planning and investment management firm managing assets of $90 million. Blue Moon was...

Anticipating delay to DOL fiduciary rule, broker-dealers and RIAs change course

August 16, 2017

Broker-dealers and registered investment advisers are pivoting in the wake of news that the Department of Labor is likely to get a lengthy delay in the implementation date of its fiduciary rule. While strategies and mechanisms put in place thus...

Energy funds adviser settles with SEC over fees

August 15, 2017

The SEC settled with the investment adviser for four private oil and gas funds over the miscalculation and inadequate disclosure of approximately $1.1 million in management fees and $449,000 in management-related expenses. The firm, Denver-based...

North Korea: How should advisers react?

August 11, 2017

If the events in North Korea go terribly wrong, it won't matter whether your clients buy or sell stocks. Should the world avoid global thermonuclear war, however, Korea could have big, short-term effects on your clients' portfolio — and you...

Private equity investors zero in on the RIA business

August 9, 2017

Private equity has discovered the financial advice industry, which can represent a whole new set of opportunities — and challenges — for advisory firms. "The appeal for us is, it provides some capital to help us continue to grow," said Scott...

Average age of advisers is falling — and so is their pay

August 9, 2017

Financial advisers are finally getting a little younger, but many are earning less, too, according to a new survey of advisers. The median age of a financial adviser has dropped to 47 from 50 just two years ago, the TD Ameritrade Institutional...

DOL seeks to delay fiduciary rule until July 2019

August 9, 2017

Supporters of the Labor Department's fiduciary rule are calling an 18-month implementation delay too long, while opponents are saying the postponement is needed to give the agency time to review the rule. In a brief filed in a Minnesota lawsuit...

Custodians are charting fintech's future

August 7, 2017

The nation's largest custodians are racing to align with — and in some cases, buy — the strongest fintech available, as each of the major players seeks to win over advisers by providing the ultimate technology platform. "One of the biggest...

Top clearing and custody firms for financial advisers

August 7, 2017

CLEARING FIRMS Listed by reported number of broker-dealer clients Firm Phone/website # of clients % change vs. 2016 Contact Phone/email Pershing (800) 445-4467 714* -3.90% Michael Row (800) 445-4467 One Pershing Plaza, Jersey City, NJ 07399...

Scottrade advisers test custodial waters

August 7, 2017

As TD Ameritrade Holding Corp. closes in on its September acquisition of Scottrade Financial Services, some competitor custodians have been quietly watching, waiting and rolling out the red carpet to Scottrade advisers who might choose to leave...

Morgan Stanley loses $390 million team to Baltimore-area hybrid

August 7, 2017

A two-adviser team managing $390 million in assets at Morgan Stanley has joined Harbor Investment Advisory, a hybrid firm based in Lutherville, Md. The team, which consists of advisers Paul M. Fox and Jennifer L. Winslow, and associates Patrick...

Adviser denies any role in fake news story about murdered DNC staffer

August 4, 2017

Outspoken financial adviser Ed Butowsky, who earlier this week found himself at the center of a bombshell lawsuit alleging he was directly involved in concocting a phony news story about a murdered Democratic National Committee staffer, said...

Ex-Morgan Stanley executive acquires two broker-dealers, 500 advisers

August 3, 2017

Doug Ketterer, who retired two years ago as Morgan Stanley's head of strategy and client management, is launching a new wealth management firm by buying two independent broker-dealers with nearly 500 advisers and more than $30 billion in assets...

Thrivent acquires $7 billion RIA Ronald Blue & Co.

August 2, 2017

Thrivent Financial, which manages and advises on $116.5 billion in assets, has acquired the assets of Ronald Blue & Co., an RIA firm in Atlanta managing $7 billion in assets. Terms of the acquisition were not disclosed. The RIA firm will become...

RIAs less optimistic about economy and stock market

August 1, 2017

​ After reaching new highs at the start of the year, optimism about the economy and the stock market has slipped among registered investment advisers, according to a mid-year survey of RIA sentiment from TD Ameritrade Institutional. Sixty...

Assets at RIAs growing at 5.8%: report

August 1, 2017

Assets under management at registered investment adviser firms grew 5.8% to $70.7 trillion, and the number of firms increased by 2.7% to 12,172, according to the latest annual report from the Investment Adviser Association and NRS based on ADV...

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