"Advisors don't want to sacrifice flexibility and ownership in order to access that institutional quality resources and support," Concurrent's Joe Mooney says as his Merchant-backed RIA crosses $20 billion AUM.
A decade after launch, co-founder Alan Moore reflects on the model's rise, how firms have relaxed their Boomer millionaire bias, and what last year's AdvisorBOB acquisition means for the platform.
Survey finds policy hurdles and education gaps are shaping how advisors approach crypto allocations.
“We wanted to do shareholder activism,” says Chicory Wealth founder and CEO Max Kulyk.
A nearly 90-point basis point increase from Fidelity led one RIA to move all of their long-short SMA client accounts to Schwab.
Among other benefits, CEO Daryl Seaton says the Merchant partnership gives the $6.5 billion RIA capital for its advisor partnership program and compete for M&A targets.
The Mather Group will pay Robinhood 25% of revenue from clients referred through Robinhood Advisor Network and custody those assets at TradePMR to reach young investors "who weren’t sitting in anyone’s pipeline."
The challenger RIA custodian's CEO sees more and more G2 advisors leaving aggregator-acquired firms to chase independence — and taking their organic growth with them.
Monish Verma jumped from UBS to found Vardhan Wealth Management in May 2021.
Brown & Company’s transition reflects a succession strategy for founder Mark Brown, and marks the second team from LPL Financial this month to join private equity-backed RIA acquirer Modern Wealth Management.
“I feel like I'm leveraging a lot of what I developed over time at Morgan Stanley, albeit in a different framework of this fiduciary construct and a much more boutique-like culture,” Melissa Nims said of her jump to the RIA after 20 years at the wirehouse.
Breakaway advisors cite independence, ownership and broader capabilities as key drivers.
New RIA Prairie View Wealth Partners targets a market that co-founder Adam Cox says is dominated by banks and trust companies but lacks independent advisory firms.
OpenArc’s managing director says constraints on hiring inside the wirehouse model were a key catalyst behind the firm’s exit, as the RIA has added more than 20 hires since leaving Merrill Lynch seven months ago.
“We’re really excited to be serving not just prospects with this model, but also existing advisors,” said Julian Lopez, head of enterprise solutions at Schwab Advisor Services.
The wealth management firm has grown its assets under management from $800 million when it left UBS to $1.3 billion today.
With more households willing to pay for advice, Cerulli data show a chasm between what clients think advisors are obligated to do and how their assets are actually managed, with RIAs poised to benefit.
Advisors overseeing $400M+ in assets shift channels seeking control, scale, and flexibility.
Naples-based firm backed by Goldman custody, Dynasty platform after $2.4B team exit.
In leaving the wirehouse model for an RIA, Jason Stephens says Evertern Wealth can now “have tailored planning software, tailored reporting software that’s very sophisticated for our clientele.”
