Results for "breakaways"

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Testing the breakaway waters

September 4, 2019

Breakaway, transition, "going indie" — no matter how you characterize it, a wave of financial advisers is moving away from traditional wirehouses and big-name brokerage firms in favor of launching or joining more independent-minded businesses....

Morgan Stanley breakaway team forms $215 million RIA in N.J.

July 3, 2019

QP Wealth Management in Eatontown, N.J. joins the breakaway trend by leaving Morgan Stanley to establish a registered investment adviser with $215 million in client assets. Co-founders James Lloyd, Thomas Leidner and Lisa Heerwagen partnered...

Why aren't more women advisers making the leap to independence?

June 4, 2019

The wealth management industry seems to have all the markings of being a "natural fit" for women. Women tend to be more nurturing and relationship-driven than their male colleagues. They thrive on their innate abilities to connect and be empathetic...

Former brokers say breaking away to be RIA went better than they feared

July 2, 2019

An appetite for control, independence and an opportunity to build equity in a sustainable business continue to fuel the migration by wirehouse brokers toward the independent registered investment adviser ranks. A new report from TD Ameritrade...

Superstar advisers with $17 billion in AUM bolt from First Republic

June 3, 2019

A team of All-Star financial advisers who manage $17 billion in assets for wealthy clients has bolted from First Republic Bank's elite wealth management group to set up two RIAs in California. The advisers — David Hou, Mark Sear, Robert Skinner...

A higher standard of client care

July 8, 2019

The financial services profession is about more than just numbers. It's about helping people navigate life's complexities. Financial advisers serve an important role as their clients prepare for milestones. So it's no surprise that the client-adviser...

Bob Oros of HighTower calls protocol exit 'form over substance'

May 15, 2019

HighTower Advisors put an exclamation point on its move away from recruiting breakaway brokers this week by officially exiting the broker protocol. "It's a little bit of form over substance," said Bob Oros, chief executive of the $50 billion...

Merrill loses $450 million breakaway team

May 7, 2019

Craig Robson, an Atlanta-based adviser managing $450 million in client assets has left Merrill Lynch to create the independent firm Regent Peak Wealth Advisors. Mr. Robson had been with Merrill Lynch since 1994. Joining Mr. Robson at his new...

What does it mean when superstar breakaway brokers bolt again?

June 12, 2019

In 2008, when a group of advisers in charge of $7 billion left Merrill Lynch to set up their own RIA, Luminous Capital Holdings, the financial advice industry was aghast. It was an audacious move, particularly for a team of all-star financial...

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...

Fixed-income solutions for breakaways entering the RIA space

June 25, 2019

Wirehouse advisers are often sold the idea that the independent channel cannot support sophisticated investment solutions. So a major concern for breakaway advisers as they make the move to independence is how they will recreate the products...

Why operations teams are the unsung heroes behind breakaways

September 20, 2017

The breakaway movement has continued to gain headlines as more teams have make the leap to the RIA channel. Most articles surrounding recent breakaways tend to focus on how much assets the adviser has managed, the adviser's experience in the...

The First 90 Days:

June 27, 2017

For newly created Registered Investment Advisor (RIA) firms, the first 90 days after launch can be both exhilarating and daunting in equal measure. On the one hand, firms get their first taste of independence as they begin to shape a new enterprise...

The First Steps:

June 21, 2017

Registered Investment Advisor (RIA) firms often are born from inspiring goals: to pursue greater personal independence, to forge stronger client partnerships, or perhaps to build a successful enterprise. Those making the leap to independence...

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...

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 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...

Ameriprise loses $275 million team to LPL hybrid unit

June 15, 2017

A five-adviser team that managed $275 million at Ameriprise in Raleigh, N.C., has affiliated with LPL and its hybrid RIA platform. Operating as Socratic Wealth Advisors, the team includes veteran advisers Chris Demarest, Murat Kaptanoglu, Andrew...

Dynasty Financial lures breakaways with new financing deal

May 3, 2017

Dynasty Financial Partners is launching a new division aimed at providing liquidity options for registered investment advisers. The new unit, Dynasty Capital Strategies, will expand the firm's capabilities to include the purchasing of revenue...

Focus Financial adds $800M Lone Star State firm

February 7, 2017

An $800 million registered investment advisory firm based in Coppell, Texas, CFO4Life, has joined the New York-based Focus Financial Partners. In a press release, Focus said the RIA is its 44th partner firm and its first headquartered in Texas....

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