Results for "breakaways"

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RIA consolidation on pace for sixth straight record year

October 18, 2018

The pace of consolidation among registered investment advisers slowed slightly during the third quarter but remains on track for a sixth consecutive record year. The latest report from Echelon Partners counted 43 RIA acquisitions during the...

Sanctuary Wealth Partners rolls out red carpet for breakaway brokers

October 1, 2018

Sanctuary Wealth Partners has signed its fifth advisory team in as many months, bringing its total assets under to management to $5.5 billion. The Indianapolis-based hybrid RIA announced Monday the addition of RiceBarrett Family Wealth, a $240...

Better together? Why not all advisory teams are meant to go independent

September 17, 2018

For advisers who yearn for independence, going independent on their own can seem like the perfect solution. Advisers are attracted by the flexibility of the registered investment adviser model and the ability to serve their clients in a conflict-free...

Merger and acquisition activity drops dramatically in the second quarter

July 31, 2018

Merger and acquisition activity in registered investment adviser firms dropped dramatically during the second quarter, according to a report from DeVoe & Co. RIA transactions dropped to 32 in the second quarter from a record 49 in the first...

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;...

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...

Orion sets sights on breakaway brokers

June 6, 2018

Orion Advisor Services is the latest technology company turning its attention toward breakaway brokers. The portfolio management software provider announced a new program on Wednesday called Fast Track to support advisers leaving wirehouses...

RIA sellers might be rushing in ahead of market turmoil

April 23, 2018

The first quarter of 2018 saw a record level of consolidation activity in the financial advisory space, according to the latest report from DeVoe & Co. The 47 registered investment adviser transactions during the first three months of the year...

Adviser's Consultant: Luring breakaway brokers to a hybrid RIA

March 30, 2018

Alex Goss understands the benefits of economies of scale in the financial planning business. By preaching that message to breakaway brokerage reps, he has grown his business to well beyond $3 billion in assets less than four years after his...

Envestnet looking to support breakaway advisers

March 28, 2018

Envestnet Tamarac is getting into the business of supporting breakaway advisers. On Wednesday, the company launched an offering it calls Quick Start that will get new registered investment advisers up and running on the Tamarac portfolio management...

Merrill Lynch loses $1 billion Georgia team to RIA channel

March 26, 2018

A group of four advisers who managed $1 billion at Merrill Lynch in Savannah, Ga., have left to form Sound View Wealth Advisors, a registered investment advisory firm. The principals of the new firm, which was launched with the help of Focus...

Morgan Stanley team managing $180 million joins Raymond James in California

December 27, 2017

John DeRosa and Deanna DeRosa, a father-daughter team managing $180 million at Morgan Stanley, have moved to the employee channel of Raymond James in Newport Beach, Calif. The senior DeRosa began his financial services career at Eastman Dillon...

TD Ameritrade report says brokerage industry driving reps out the door

December 18, 2017

The breakaway broker trend is real and only getting more so, according to the latest research from TD Ameritrade Institutional, which Monday morning released its 2017 Breakaway to Independence Survey. "There is an undercurrent of discontent...

Three big effects of the shifting broker protocol

December 13, 2017

About a month ago, Morgan Stanley announced it was leaving the protocol. A few weeks later, UBS followed suit. The protocol is the mutual agreement that lays the ground rules for advisers to leave their existing brokerage firm and take specified...

Raymond James gets Merrill Lynch, Morgan Stanley advisers managing $560 million

December 8, 2017

An adviser who managed $230 million at Merrill Lynch on Long Island and three advisers who managed $330 at Morgan Stanley offices in Westchester and Long Island have joined offices of the employee unit of Raymond James in the New York suburbs....

Wells Fargo adviser jumps to Kingsview

December 5, 2017

Peter Hiltz, who managed $160 million in assets at Wells Fargo Advisors in Cincinnati, has joined Kingsview Asset Management and will open the firm's first office there. Kingsview is a registered investment adviser headquartered in Grants Pass,...

Wells Fargo adviser managing $219 million joins Ameriprise

December 4, 2017

Michael Huffman, who managed $219 million in assets in the Mesa, Ariz., office of Wells Fargo Advisors, has joined the employee channel of Ameriprise Financial. Mr. Huffman began his securities career at Kober Financial in 1991 and spent time...

UBS broker-protocol exit puts firm before clients

November 27, 2017

Jerry Seinfeld has a routine, a "bit", where he makes fun of fans of professional sports. When a player is part of the team you root for, you cheer him on. When he departs, you scream that he's a bum. In fact, he says, you actually are just...

Wells Fargo loses $265 million adviser to Raymond James

November 7, 2017

Mark Lazar, an adviser who managed $265 million in assets at Wells Fargo Advisors, has joined the employee unit of Raymond James in Cottonwood Heights, a suburb of Salt Lake City, Utah. Mr. Lazar, who is being joined by two associates, began...

Morgan Stanley's broker protocol exit: How did we get here?

November 2, 2017

Morgan Stanley dropped an industry bombshell this week upon announcing it would leave the broker protocol, a 13-year-old agreement that governs how financial advisers could leave one brokerage firm for another without getting in legal trouble....

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