Results for "breakaways"

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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,...

Fidelity's Bob Oros to take over as CEO of HD Vest

January 23, 2017

Bob Oros, executive vice president and head of the RIA segment at Fidelity Investments, is taking over as CEO of HD Vest Financial Services Inc. Mr. Oros, 51, who is slated to leave Fidelity at the end of the month, will replace Roger Ochs,...

Raymond James recruits $300M Morgan Stanley team

December 19, 2014

Raymond James has snagged a $300 million team from Morgan Stanley Wealth Management. Craig A. Houck and Richard L. Schooley Jr. will join Raymond James' independent channel, operating as Dogwood Wealth Advisors, with offices in Atlanta and Savannah,...

Bob Oros takes over as HighTower CEO

January 7, 2019

HighTower Advisors confirmed on Monday that industry veteran Bob Oros has taken over as CEO of the Chicago-based RIA consolidator. The news, which was originally reported in November, puts Mr. Oros at the head of a $60 billion wealth management...

No summer break for SEC as agency revs up exam pace

August 26, 2014

Securities and Exchange Commission examiners haven't slowed down during the dog days of summer, according to compliance consultants who attribute the uptick in the SEC exam pace to the agency's focus on registered investment advisers who have...

HighTower adds $400 million RIA to partnership

July 28, 2014

HighTower Advisors has picked up a $400 million registered investment adviser as the firm doubles down on recruitment and begins deploying funds from a $100 million credit line it secured this month. The firm deployed some of its recent capital...

TD Ameritrade, Schwab put third-party exams on lawmakers' radar

June 13, 2014

Congress doesn't have a direct role in determining whether the Securities and Exchange Commission will require investment advisers to use private-sector firms for compliance examinations, but industry officials are making sure lawmakers are...

The startup costs of advisers' going solo

November 22, 2013

When asked by financial advisers if it's too expensive to go out on their own, set up shops and create unique brands, I tell them they will definitely incur costs but they aren't necessarily prohibitive — especially for those with an entrepreneurial...

The three phases of breaking away

October 4, 2013

As a marketer, I love helping advisers launch a new brand and watching it take flight. In our industry, the teams coming out of the wirehouses to form their own independent firms nearly always seem to be exceptional marketers — once they've...

LPL has solid second quarter but recruiting still sluggish

July 31, 2013

LPL Financial LLC today reported a second consecutive quarter of weak recruiting even as its overall financial results for the period topped expectations. The firm has long been a recruiting juggernaut, with a longstanding goal of 400 to 500...

Securities America, NorthStar Financial unveil RIA

July 19, 2013

Securities America Inc. and NorthStar Financial Services Group LLC have officially rolled out a jointly owned RIA firm designed for use by midsize hybrid advisers. The new RIA firm, Arbor Point Advisors LLC, will serve as a corporate RIA for...

Top lessons learned during a breakaway transition

October 30, 2018

More than two years ago, our team began to explore whether the registered investment adviser platform was better for us than the independent broker-dealer world we were in. Although business was good, we felt it would be beneficial to learn...

TD scored big with breakaways in 2012

January 23, 2013

A strong gain in net new assets took TD Ameritrade Institutional over the $200 billion asset level last month. And the unit continues to snag its fair share of breakaway brokers. The gain marks something of a milestone for the custody business...

HighTower opens gates for breakaway advisers

September 23, 2012

HighTower Advisors, one of the fastest-growing registered investment adviser aggregator firms in the country, said that it will offer two new paths for financial advisers to make the transition to independence. The HighTower Network will give...

What advisers can expect from an SEC exam

March 13, 2016

Congratulations, you're one of the 10% of investment advisers the Securities and Exchange Commission is planning to examine this year. Here's what you can expect over the next couple of months, or — if you're on the less fortunate end of the...

SEC takes steps to avoid Madoff sequel

February 7, 2016

Perhaps it was appropriate that the same week a two-part television series aired on the Bernie Madoff scandal, the Securities and Exchange Commission leaked a story that it was increasing the number of RIA examiners by 20%. After all, one of...

$1B Colorado-based RIA merges with $250M firm

January 19, 2016

Registered investment advisory firm Sargent Bickham Lagudis, with $1 billion in assets under management, announced Wednesday that it has merged with Colorado Financial Management, a firm that manages $250 million. “What we hope is that we...

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...

Custodians try to entice breakaways with substantial perks

August 9, 2015

As larger teams move into the registered investment adviser channel, the major custodians are getting more creative and adding some sweeteners to entice big breakaway outfits. Looking to differentiate themselves by more than just their ability...

InvestmentNews Research, BlackRock launch new study of “Elite” RIAs

May 28, 2015

New York, May 28, 2015 – With the business of providing financial advice fast evolving – presenting advisers with new service opportunities as well as urgent practice challenges – InvestmentNews Research, in partnership with BlackRock...

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