Results for "registered investment advisers (RIA)"

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Former TCA by ETrade exec lands as CEO of fast-growing RIA

November 8, 2019

Joshua Pace, the former president of the custodian business at TCA by ETrade, has landed a new gig as chief executive of Apella Capital, a Glastonbury, Conn.-based advisory firm with $1 billion under management and plans to grow through acquisitions....

Ken Fisher has a big bet on a risky corner of Wall Street

November 8, 2019

Billionaire Ken Fisher made his name and fortune picking stocks. But over the years he's also become a huge player in an arcane — and controversial — corner of Wall Street: exchange-traded notes. With little fanfare, his Fisher Investments...

Controversial adviser Ed Butowsky launches broker-dealer aimed at smaller breakaways

November 7, 2019

While much of the financial services industry has become fixated on building scale through record-level acquisitions of registered investment advisers, Texas-based RIA Ed Butowsky is going against the grain by launching a broker-dealer aimed...

Focus Financial is "the only game in town" for RIA M&A, says CEO Rudy Adolf

November 7, 2019

Rudy Adolf takes a look around the red-hot market for RIA acquisitions and he likes the opportunities facing Focus Financial, one of the most senior and well established buyers of RIAs. Mr. Adolf, the founder and CEO of Focus Financial, acknowledges...

Wells Fargo adviser managing $300 million sets up RIA

November 7, 2019

David Mattern, who managed $300 million at Wells Fargo Advisors, has launched Mattern Wealth Management, a registered investment adviser, in Lawrence, Kan. [More:​ See more adviser moves in InvestmentNews' Advisers on the Move database.] He...

SEC proposes allowing advisers to use testimonials, endorsements in ads

November 5, 2019

The Securities and Exchange Commission has proposed revising its advertising rules for investment advisers for the first time in nearly 60 years, allowing them to post testimonials, endorsements and third-party ratings on social media. Under...

Charles Schwab to get more aggressive around lending, income

November 5, 2019

Discount broker Charles Schwab Corp. is becoming more aggressive around the lending and income services it offers to financial advisers and their clients, with plans to roll out services in these areas in the near future, according to company...

Fisher Investments won't take no for an answer, prospects say

November 1, 2019

The hard selling was relentless, even infuriating, prospective customers said. Marketers called their homes, spammed their work email and impersonated friends, colleagues and government officials. "CALLS REPEAT EVERY DAY. I SUBMIT A COMPLAINT...

Texas RIA orders $366,218 refill to coffee shop investors

November 1, 2019

The Texas Securities Commissioner has ordered Jason Hyson LeBlanc, currently an investment adviser representative with Vere Global Wealth Management, to repay $366,218 to 14 individuals who bought promissory notes he sold to fund a Fort Bend...

Navigating the RIA ecosystem

October 31, 2019

Picture a tree in a forest. You're likely picturing this tree as a singular entity. But, there's a vast and unseen network of interconnectivity beneath the surface. Several years ago, scientists discovered that trees communicated through their...

UBS broker duo managing $1.4 billion at UBS sets up RIA business

October 31, 2019

Terry Cook and Kyle Caouette, who managed $1.4 billion at UBS in Bellevue, Wash., have created Parcion Private Wealth. [More: See more adviser moves in InvestmentNews' Advisers on the Move database.] The RIA firm, which consists of 11 advisers...

SEC bars ex-compliance officer of Idaho RIA over wire fraud

October 31, 2019

The Securities and Exchange Commission has barred Cameron High, the former chief compliance officer of Yellowstone Partners, a defunct RIA firm in Idaho Falls, Ida., for his participation in a scheme to defraud clients. [Recommended video: Social...

HighTower growth strategy shows no fear of buying high

October 29, 2019

Chicago-based HighTower continues to live up to its reputation as a hungry acquirer of larger registered investment advisers. In the latest example of its private-equity-backed growth strategy, HighTower announced the acquisition of Schultz...

Eric Cantor warns of investor backlash in wake of Fisher remarks

October 29, 2019

Moelis & Co. vice chairman Eric Cantor said financial firms that fail to respect women in the workplace will increasingly be punished by customers. Speaking in Saudi Arabia, Mr. Cantor, former majority leader of the U.S. House of Representatives,...

Hybrid firm acquires $280 million RIA

October 29, 2019

Sanctuary Wealth, an Indianapolis, Ind.-based hybrid that manages $9 billion, has acquired NorthView Asset Management, an RIA firm in Austin, Texas, managing $280 million. [Recommended video:​ Protecting against the insider cybersecurity threat]...

Adding value during health insurance open enrollment

October 28, 2019

While a lot of people see the annual health insurance open enrollment period as a big headache, Michael Policar sees it as a big opportunity. Mr. Policar, wealth manager at HighTower Advisors Bellevue, has carved out a niche by rolling up his...

Allworth Financial acquires $2.8 billion RIA

October 28, 2019

Sacramento, Calif.-based Allworth Financial continued its aggressive acquisition strategy by purchasing Dallas-based RAA, a $2.8 billion registered investment adviser that specializes in serving airline industry employees. The deal, which is...

Fisher divestment tops $3 billion after Texas pension bolts

October 25, 2019

The state pension fund of Texas is pulling $350 million from Fisher Investments as more investors flee the firm following vulgar comments from its founder. "With respect to our fiduciary duty, we are defunding Fisher Investments," the pension...

Is it time for Ken Fisher to step down?

October 25, 2019

Two weeks after Ken Fisher's infamous comments at the Tiburon CEO Summit took social media by storm the question has evolved from "How could he?" to "How could he still be the company's chairman?" "For Ken Fisher, it's already too late," said...

Goldman joins retreat from Fisher's firm

October 25, 2019

Goldman Sachs Group Inc. is joining the exodus from Ken Fisher's firm. The Wall Street bank said Friday in a regulatory filing that it will be dropping Fisher Asset Management as the underlying manager of Goldman Sachs Multi-Manager Global Equity...

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