Results for "registered investment advisers (RIA)"

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Focus Financial reports strong M&A numbers

August 8, 2019

With more than four months remaining in the year, Focus Financial Partners Inc. said Thursday that it had already exceeded the number of RIA transactions this year than it recorded in all of 2018. In announcing its quarterly earnings, Focus...

Dually registered advisers found to have conflicts and higher fees

August 8, 2019

Investment advisers who also are registered as brokers are rife with conflicts of interest and charge their clients more than independent RIAs, according to a new academic study. In a paper released on Wednesday, Nicole Boyson, professor of...

Fidelity draws adviser wrath with 1.9% cash offer

August 7, 2019

As is typically the case when equity markets turn choppy, financial advisers are paying closer attention to the yields their clients are earning when they turn to the safety of cash. But for custodians and brokerage platforms that often default...

Finra arbitrators order Schwab to pay $347,000 to RIA owner for allegedly helping competitor

August 6, 2019

Finra arbitrators ordered Charles Schwab & Co. Inc. to pay $347,000 to the owner of a registered investment advisory firm for allegedly helping a former official of the RIA lure millions of dollars of assets to her own advisory firm. Joseph...

Advisers say go for the gold as the perfect hedge for trade-war fears

August 5, 2019

As international tariffs and trade-war chatter has investors suddenly fleeing the equity markets, gold is rallying as a logical safe-haven play. The S&P 500 Index was down more than 2% in mid-day trading Monday, following the market's worst...

New York RIA head sentenced to 13 years for Ponzi scheme

August 1, 2019

The head of a suburban New York RIA, Hector May, who pleaded guilty last December to stealing $11.5 million from investors in a Ponzi scheme, has been sentenced to 13 years in prison and ordered to pay $8.4 million in restitution. (More:​...

Median age of RIA firm principals now 49, down from 52

July 31, 2019

After years of growing older, the ranks of advisers and RIA firm leaders are getting younger. (More: RIAs must confront the emotional side of letting go of their business) The median age of RIA firm principals is now 49, down from 52 in 2015,...

Lightyear sells Wealth Enhancement Group to TA Associates

July 31, 2019

Minneapolis-based Wealth Enhancement Group has extended its relationship with private-equity investors through a deal that will transfer a majority ownership stake in the $11.8 billion advisory firm to TA Associates. The deal, announced Wednesday,...

Dawn Bennett sentenced to 20 years in federal prison

July 31, 2019

Former financial adviser Dawn Bennett was sentenced on Wednesday to 20 years in federal prison for her conviction on 17 federal charges related to a $20 million Ponzi scheme. Ms. Bennett, 56, who formerly operated Bennett Financial Group Services...

Flood of RIA sales pushes industry toward a buyer's market

July 31, 2019

The record-setting pace of consolidation among advisory firms is only going to become more competitive, said David DeVoe, managing director at the investment bank DeVoe & Co. The first-half data released Wednesday by DeVoe & Co. show 65 acquisitions...

Super OSJ or small firm? What small and midsize practices should consider

July 31, 2019

Many small and midsize practices are leery of affiliating with a large firm because they fear that may result in getting lost in the shuffle. Indeed, when you are just a number in a sea of advisers, it can be challenging to get the type of support...

Capital One data hack puts financial advisers on high alert

July 30, 2019

The data breach at Capital One Financial involving more than 100 million people in the United States and Canada has given financial advisers a new reason to remind their clients about the need to take identity protection measures seriously....

Morgan Stanley arms reps with ESG analysis tool

July 29, 2019

Morgan Stanley Wealth Management on Monday armed its more than 15,600 reps with a tool to help investors align their portfolios with their socially and environmentally conscious beliefs. The Morgan Stanley Impact Quotient, colloquiallydubbed...

Advisers view diversity efforts as a complex, heavy lift

July 26, 2019

Discussions about the financial services industry's reputation for being mostly white and mostly male will usually trigger a raft of enthusiastic perspectives, but what most people agree on is that progress is slow and real diversity is still...

Advisory firm founder carries half his clients' fees into retirement

July 25, 2019

When it comes to succession planning, Jim Mohr is banking heavily on the abilities of the next generation of advisers at the San Diego-based advisory firm he founded 35 years ago. Mr. Mohr, 59, is not yet officially retired from Mohr Financial...

RIA to buy $300 million fixed-income business

July 25, 2019

Lido Advisors, a Los Angeles-based registered investment adviser, will acquire the Los Angeles-based fixed income portfolio management team from Denver-based First Western Financial as well as over $300 million in assets currently held through...

TD Ameritrade CEO Tim Hockey says his exit is unrelated to M&A

July 23, 2019

TD Ameritrade CEO Tim Hockey said his departure from the online brokerage by no later than the end of February has nothing to do with mergers and acquisitions, "pro or con." Mr. Hockey, in a phone interview, brushed off a direct question about...

Advisers react to Tim Hockey suddenly resigning from TD Ameritrade

July 23, 2019

Financial advisers are stunned by the sudden announcement of Tim Hockey's intention to step down as CEO of TD Ameritrade Holding, wondering what changes it portends for the firm's custodian business. Though Mr. Hockey joined TD Ameritrade after...

Texas hybrid managing $530 million goes RIA

July 23, 2019

Austin Private Wealth, which manages $530 million in Austin and Corpus Christi, Tex., has become a registered investment adviser. The firm, which will use TD Ameritrade as its custodian, had been a hybrid affiliated with Ameriprise Financial....

SEC warns RIAs to increase supervision of staff with disciplinary histories

July 23, 2019

The Securities and Exchange Commission warned registered investment advisers Tuesday to step up their supervision of staff who have disciplinary histories. The agency's Office of Compliance Inspections and Examinations released a report on the...

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