Results for "breakaways"

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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...

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...

Ask the Ethicist: What should an adviser do if their former firm violates a non-compete agreement?

April 28, 2017

Q: I'd like your opinion on something that happened to a friend of mine who recently left his position as a veteran adviser with a wirehouse to go independent. Before he left he mailed a "tombstone" letter to his clients so they were aware that...

Women advisers not attracting as many assets as male colleagues

January 12, 2017

Female financial advisers are not attracting an equal share of client assets compared with their male colleagues, and the picture looks especially bleak at RIAs, new data show. The number of female financial advisers overall is slowly rising...

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...

LPL affiliate Private Advisor Group launches new plan to attract wirehouse brokers who may want to go RIA

January 10, 2019

LPL Financial's largest affiliate, Private Advisor Group of Morristown, N.J., is launching a new platform its partners believe will give it the ability to attract wirehouse brokers who want to transition to the RIA channnel. Private Advisor...

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...

Even low-tech tools can trip up advisers going independent

October 24, 2016

One benefit — or detriment, depending on your outlook — of working for a large firm is that your technology platform is mostly prescribed to you. The firm tells you what you will use or provides a very short list of approved providers. When...

Broker-dealer pays $9.5 million to settle alternative investment claims by Native American tribe

June 26, 2019

Purshe Kaplan Sterling Investments will have to pay $9.5 million related to the sale of alternative investments to a Native American tribe in Michigan, according to a recent filing with the Securities and Exchange Commission. The independent...

Confirmation quagmire mustn't deter SEC

February 28, 2016

The likelihood of the two SEC nominees being confirmed anytime soon is slim, and getting harder to imagine by the day. But the commission has too much important work to tackle to let that hold them back. Even before the sudden death of Supreme...

Wake-up call for RIAs: It's time to fix exams before it's too late

November 15, 2015

Imagine a town where things are quiet and so the cop doesn't walk the beat as often as he used to, yet this absence of police presence can fuel a sense of insecurity. Registered investment advisers find themselves in a similar pickle: infrequent...

3 reasons the time is now for big breakaways

November 2, 2015

The number of large teams breaking away and starting their own independent advisory firms has been rising. Scott Highmark of Mosaic Family Wealth likes to compare this trend to the growth of the craft beer industry. Craft beers, like breakaways,...

Advisers' deaths without transition plans force custodians into action

August 9, 2015

When investment advisers who are sole proprietors die unexpectedly without a continuity plan in place, the firms where they house client assets react rapidly. “Custodians are increasingly adept and swift at taking action,” said Brian Hamburger,...

Considering growing through M&A? Don't call it a 'tuck-in'

August 7, 2015

Given the massive increase of merger and acquisition activity in wealth management, and understanding the complexity and unique nature of each of these transactions, we have to ask ourselves one very important question: How did our industry...

How does adviser pay in your city stack up?

June 3, 2015

Note. Source for all data: 2013 InvestmentNews/Moss Adams Adviser Compensation & Staffing Study and the U.S. Department of Labor's Bureau of Labor Statistics. Bubble sizes are determined by Service Adviser compensation; values for all three...

Is adviser compensation rising in tandem with advisory firm revenues?

April 29, 2015

Our research studies have shown again and again that independent adviser compensation stacks up well against some of the best-paid professional careers. Two years ago, after the results were in from our 2013 InvestmentNews/Moss Adams Adviser...

Is there a bubble in RIA prices?

March 2, 2015

Are RIA prices getting too rich? At least two well-known names in the acquisition business, United Capital and HighTower Advisors, have backed away from buying established registered investment advisers while citing, in part, the high costs...

$800 million Morgan team breaks away

February 23, 2015

A team previously managing $800 million in client assets at Morgan Stanley Wealth Management has broken away to form an independent firm. The team, which is partnering with Dynasty Financial Partners, a platform and service provider for independent...

HighTower recruits $550 million UBS team

January 6, 2015

After recruiting 13 practices last year, hybrid wealth management firm HighTower Advisors has made its first in 2015 and said it's hoping for more. HighTower has brought on a $550 million team from UBS Wealth Management in New York. The team,...

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