Results for "breakaways"

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$160 million Merrill Lynch team exits for HighTower

May 22, 2017

A four-adviser team managing $160 million in assets has left Merrill Lynch in West Palm Beach, Fla., to create an RIA firm, PDS Wealth Management, that has affiliated with HighTower. Breaking away were the new firm's managing director Tom Parker,...

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,...

Biggest billion-dollar adviser moves since 2011

January 22, 2016

Over the past five years, big adviser moves have picked up steam. These interactive graphics offer more details on the biggest moves since 2011. Hover your cursor over the names of the firms for details on where advisers moved from, as well...

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...

RIA deal mania and why you should care

December 3, 2015

The past several months have been fascinating if you are an independent adviser. Three large transactions have been announced that offer some telling signals about where the industry is headed. To wit: • Lightyear Capital bought a majority...

Merrill Lynch team with $700M AUM leaves to launch RIA

November 10, 2015

An adviser team with $700 million in client assets has left Merrill Lynch to start an independent advisory firm. Ross Fox, Matthew Papazian, Marti Awad and Sarah Keys have launched Cardan Capital Partners in Denver. Cardan is using Dynasty Financial...

Commonwealth loses $650M firm to RIA channel

October 6, 2015

D.B. Root & Co., a firm affiliated with Commonwealth Financial Network that managed more than $650 million in client assets, has formed a registered investment advisory. The Pittsburgh-based RIA includes founder and CEO David B. Root, along...

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...

Choppy stock market leads to fewer wirehouse reps fleeing the coop

April 30, 2019

The stock market correction at the end of last year is being credited with putting a damper on breakaway broker activity during the first three months of this year. The latest data from Echelon Partners show that just 94 advisers exited the...

HighTower may be moving closer to an IPO

June 9, 2015

HighTower Advisors, a hybrid advisory firm whose trajectory has been closely followed as a barometer for success of the independent model, made a presentation last week on taking the firm public, according to sources who requested anonymity...

The continuing growth of the RIA channel, by the numbers

May 31, 2015

Market appreciation alone doesn't explain the continuing growth of the RIA channel. Overall, there was a 21% increase in the total assets under management of all included firms in the InvestmentNews RIA Data Center, from $1.1 trillion at the...

HighTower lands $750 million Morgan Stanley team

April 2, 2015

HighTower Advisors, a hybrid broker-dealer and investment adviser, has netted a top Morgan Stanley team in California with the addition of the Bahnsen Group, which previously managed around $750 million in assets. The group, which joins HighTower...

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....

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...

$1 billion group leaves Arnerich Massena to go independent

October 5, 2016

A pair of advisers overseeing $1 billion in assets has broken away from Arnerich Massena Inc. to form an independent registered investment advisory shop, Allium Financial Advisors, the new firm announced on Wednesday. Arnerich Massena is a Portland,...

LPL adds firm with $1B in assets

October 3, 2013

LPL Financial LLC has added a firm that manages about $1 billion in corporate-retirement-plan and private-client investment assets to its network, the nation's largest, according to a statement released Thursday by San Diego-based broker-dealer....

RBC Wealth Management adds $200 million team

September 20, 2013

RBC Wealth Management has added a duo of J.P. Morgan Securities LLC advisers with more than $192 million in assets and $1.9 million in production to its office in Providence, R.I., company officials said Friday. The DiChiaro-Bourgault Group...

$2.2 billion adviser team defects from Morgan Stanley to go independent

September 12, 2016

A 13-person team managing $2.2 billion in assets has defected from Morgan Stanley to form an independent registered investment adviser, 6 Meridian, based in Wichita, Kansas, the new firm announced today. The team, comprised of seven advisers...

Top Adviser Q&A: David Hefty

January 16, 2013

David Hefty is the 36-year-old chief executive of Hefty Wealth Partners, based just outside of Fort Wayne, Ind. Hefty gives details about his firm's growth strategy, what he looks for when he is recruiting advisers and whether or not it's difficult...

Another huge win as Dynasty lands $4B breakaway from MSSB

July 9, 2012

Former Morgan Stanley Smith Barney LLC brokers Michael and Patrick Hull have launched a new advisory firm, bluepoint Investment Counsel LLC, based in Madison, Wis. The new firm has affiliated with Dynasty Financial Partners, a service platform...

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