Results for "registered investment advisers (RIA)"

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Private equity chasing healthy returns at RIAs and broker-dealers

August 2, 2018

Why are private-equity investors swarming over the wealth management industry? As Willie Sutton supposedly said when asked why he robbed banks, "That's where the money is." Looking to buy businesses with annual rates of return of 20% to 25%...

Focus Financial adds $3.5 billion Edge Capital Group to its stable

August 2, 2018

In the weeks leading up to its closely watched initial public stock offering, Focus Financial Partners was also busy acquiring the $3.5 billion advisory firm Edge Capital Group. Atlanta-based Edge Capital Group, which operated as Edge Advisors...

FiNet group managing $675 million becomes an RIA

August 1, 2018

A nine-person team in Punta Gorda, Fla., managing $675 million through Wells Fargo's FiNet independent brokerage business has left to form Landsberg Bennett Private Wealth Management, a registered investment advisory firm. The team is led by...

RIA firms optimistic about hiring and asset growth

August 1, 2018

Advisory firm executives plan to increase headcount over the next 12 months, and 57% of retail-oriented registered investment advisers expect assets under management to increase over the next three years, according to a survey by the Investment...

Despite 20% asset growth, RIA margins declined in 2017

August 1, 2018

While median annual client growth hit a record 7.8% and median assets under management per client climbed 6.8% to nearly $1 million, median operating profit margin at RIA firms dropped to 20% from 24% in 2016, according to a survey by TD Ameritrade...

Fidelity resets the fee-war bar with zero-expense index funds

August 1, 2018

Fidelity Investments has pushed the limit in the wealth management industry's fee wars by launching two index funds with expense ratios of zero. The $7 trillion asset manager's seemingly blatant effort to capture more market share also includes...

Merger and acquisition activity drops dramatically in the second quarter

July 31, 2018

Merger and acquisition activity in registered investment adviser firms dropped dramatically during the second quarter, according to a report from DeVoe & Co. RIA transactions dropped to 32 in the second quarter from a record 49 in the first...

Cash management platform gains appeal among advisers amid rising interest rates and frothy markets

July 27, 2018

The ever-frothy equity markets coupled with rising interest rates are starting to make cash look a lot more attractive to investors and financial advisers. It's a pattern that should play right into the hands of Gary Zimmerman, founder and CEO...

Focus Financial IPO falls short of expectations

July 26, 2018

Focus Financial Partners' initial offering price of $33 was bid up by investors when the stock started trading Thursday afternoon. Despite the below-target offering price, the stock closed its first day of trading at $37.55, representing a 13.8%...

Cybersecurity remains top RIA compliance concern

July 25, 2018

The biggest compliance concern at RIA firms is cybersecurity, according to a survey of 454 registered investment advisory firms conducted by the Investment Advisers Association and ACA Compliance Group. For the fifth year in a row cybersecurity...

SEC bars Washington State RIA for selling unregistered promissory notes

July 25, 2018

The Securities and Exchange Commission has barred Jack Jarrell, an investment adviser representative at OAG Wealth Management in Kirkland, Wash., for selling unregistered promissory notes without being a broker-dealer or being affiliated with...

FPA tries to move on from messy divorce with New York chapter

July 25, 2018

The Financial Planning Association is trying to put a messy divorce with its New York chapter in the rearview mirror and has carved out a niche within its organization to continue serving New York-area financial planners amid a transition to...

Back office should be top of mind for growing advisory firms

July 24, 2018

Recently, a colleague of mine suggested that "back office" should be considered a bad word, because it's where things go wrong without accountability. I respectfully disagree. The back office plays a major role in delivering a client service...

Wealth Enhancement Group adds $350 million planning firm in Florida

July 24, 2018

Wealth Enhancement Group, a Minneapolis, Minn.-based hybrid overseeing $8.9 billion in assets, has agreed to acquire Retirement Strategies Inc., a registered investment adviser and planning firm managing more than $350 million in assets and...

TD Ameritrade latest brokerage refusing to lead in cutting ETF commissions

July 24, 2018

Commission-free ETF trading appears to be the trend that isn't going away, but TD Ameritrade is the latest company to acknowledge it will not lead in the race to the bottom. "We're not going to lead [on cutting commissions], but we need to prepare...

In wake of tax reform, muni bond market gains footing

July 23, 2018

Six months after the sweeping tax-reform package that cut corporate and individual rates rattled the $3.7 trillion municipal bond market, financial advisers say the fallout has proven to be a good thing for investors. With deductions for state...

SEC charges Beverly Hills RIA with keeping $131,000 in unearned fees

July 23, 2018

The Securities and Exchange Commission said it has settled with a Beverly Hills, Calif., RIA firm and its majority owner, Margaret Mulligan Black, who it claims improperly refused to refund $131,000 in unearned advisory fees to 63 departing...

Captrust adds $1 billion RIA in Virginia

July 23, 2018

Captrust Financial Advisors has acquired Catawba Capital Management, a Roanoke, Va.-based RIA managing more than $1 billion in assets. Founded in 1992 and led by partners Terence Crowgey and R. Jay Irons, Catawba is a 10-person firm that serves...

Carson Group takes equity stake in $1.1 billion Pinnacle Financial Group

July 20, 2018

Carson Group announced Friday that it has brought $1.1 billion Pinnacle Financial Group into the fold through an equity partnership option program introduced earlier this year. Michael David, founder and chief executive of Amarillo, Texas,-based...

Fiduciary Network posts a 'for sale' sign

July 19, 2018

Fiduciary Network, a Dallas-based consolidator of advisory firms, has become the latest organization in the space to test its value on the open market. A report this week by Financial Planning confirmed what had been rumored for months: The...

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