Results for "registered investment advisers (RIA)"

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Apex will soon custody cryptocurrency assets

September 4, 2018

Brokers working with Apex Clearing will soon be to offer clients cryptocurrencies alongside traditional assets. Apex Crypto, which is launching in the fourth quarter, gives firms using Apex for custody and clearing the ability to open a client...

Live Oak Bank starts its own RIA

September 4, 2018

Live Oak Bank, a 10-year-old bank that specializes in making loans to niche industries, including registered investment advisers, has launched its own RIA. Live Oak Private Wealth, housed on the bank's main campus in Wilmington, N.C., will operate...

With history as a guide, September puts advisers on notice

September 4, 2018

With summer technically over, the financial markets roll into the dreaded month of September, which leads up to the contentious midterm election season that has financial advisers paying extra-close attention to client portfolios. "I'm not worried,...

Ken Fisher, famous annuity hater, invested in annuity companies

August 31, 2018

Ken Fisher, founder and executive chairman of Fisher Investments, has been an ardent critic of annuities for years. In fact, Mr. Fisher's vitriol toward annuities is probably one of his most identifiable characteristics in the public sphere....

Wells Fargo to combine bank and wirehouse reps under one roof

August 30, 2018

Wells Fargo & Co. has unveiled the first phase of a $4 billion cost-cutting plan that will fold its bank brokerage channel into the larger wirehouse channel, according to an internal memo obtained by InvestmentNews. The memo from Jon Weiss,...

Focus Financial sees 500 more RIAs as potential acquisitions

August 29, 2018

Fresh from raising $565 million through its July stock sale, Focus Financial Partners sees a marketplace of independent financial advisory firms that is ripe for the pickings. During the company's first earnings call Wednesday since going public...

Advisers in a pickle over low-yielding cash sweep accounts

August 29, 2018

With interest rates edging higher and stock market valuations hitting peak levels, cash management is becoming a center-stage issue for financial advisers, and one that could have fiduciary implications. While cash typically makes up only a...

Transamerica entities to pay $97 million to investors over model portfolio snafus

August 27, 2018

Four Transamerica Corp. related businesses were ordered to pay $97.6 million in penalties and disgorgement to retail investors on Monday by the Securities and Exchange Commission for misconduct related to faulty investment models. According...

Historic bull market has advisers rethinking risk

August 23, 2018

With the U.S. stock market officially qualifying as the longest bull market in history earlier this week, financial advisers are rolling up their sleeves for what comes next. The market's relatively unabated rally since March 2009, which has...

Fund industry limits C-share investing, cutting 12b-1 fee income for advisers

August 23, 2018

The great share-class migration that has been building this year is starting to unfold, representing a significant pay cut for advisers relying on beefy 12b-1 fees for predictable income streams. Over the next few months, several fund companies...

The new knights of the roundtable

August 23, 2018

Earlier this spring, we hosted a recruiters roundtable at our offices in Boston for a discussion on the evolution of adviser recruiting. Throughout the event, I thought back to Arthurian legend, which introduced the idea of the roundtable was...

Mercer Advisors beefs up M&A team to target RIAs

August 22, 2018

Mercer Advisors, which over the past two years has acquired 13 advisory firms with more than $4.2 billion in assets, is doubling down on its acquisition campaign with a string of recent hires to build out its merger and acquisition team. "The...

Sequoia Financial nears $5 billion in assets with acquisition of LJPR Financial Advisors

August 21, 2018

Sequoia Financial Group has taken another step toward the heavyweight ranks of advisory firms with the acquisition of LJPR Financial Advisors. The addition of Troy, Mich.,-based LJPR, a $776 million firm, pushes Akron, Ohio-based Sequoia to...

Proposed SEC advice rule obscures distinctions between two business models

August 20, 2018

These days, owners of RIA firms are asking me why they should be concerned about the Securities and Exchange Commission's recent attempt to change the rules and standards for broker-dealers. While there are many ways the proposed Regulation...

HighTower on prowl for new CEO, Weissbluth to become chairman

August 20, 2018

Elliot Weissbluth is stepping down as CEO of HighTower Advisors and moving into the role of chairman as soon as the Chicago-based RIA consolidator hires a replacement. The leadership change comes less than a year after HighTower sold a majority...

What's in a name? For TCA by ETrade, everything

August 18, 2018

Has Trust Company of America hitched its wagon to a star or turned its back on loyal clients? It depends on whom you ask. Either way, the $275 million acquisition in April of TCA by discount broker ETrade has the custodian world buzzing. In...

Broker fined, barred by SEC for cherry-picking

August 17, 2018

The Securities and Exchange Commission is barring and fining Roger Denha, an investment adviser with BKS Advisors, for allegedly engaging in "cherry-picking." According to an SEC cease-and-desist order, Mr. Denha bought securities in an omnibus...

Advisers home in on HENRYs overlooked by banks, retirement-plan providers

August 15, 2018

Banks and retirement-plan providers are missing the mark when it comes to capturing an attractive client segment of younger high earners who haven't yet reached wealthy status — and it's creating an opportunity for financial advisers. The...

Ed Butowsky plans to serve Schwab with $100 million lawsuit Monday

August 10, 2018

Now that financial adviser Ed Butowsky has put two major defamation lawsuits behind him, he is refocusing his efforts on suing Charles Schwab Corp. for kicking his advisory practice off its custodian platform in January. Mr. Butowsky, managing...

Custodians ponder charging RIAs asset-based fees

August 9, 2018

The fee arrangement developed over the past 20 years between registered investment advisers and custodians might be about to change dramatically. As custodians reevaluate the value of their services to RIAs, and RIAs reassess their fiduciary...

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