Results for "registered investment advisers (RIA)"

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Social media savvy advisers meet in real life at new conference

September 11, 2019

Scottsdale, Ariz., a seasonal town that is ideal for baseball and golf three-quarters of the year, but unsuitable for human life in the summer, was home this week to Wealth/Stack, a new financial adviser conference that promises to "bridge the...

Schwab to cut 600 jobs in 'challenging' economic climate

September 11, 2019

Charles Schwab Corp. said it is cutting 600 jobs, or about 3% of the workforce, as the San Francisco-based broker-dealer and wealth advisory firm faces "an increasingly challenging economic environment." "These actions are a prudent step to...

SEC sued by seven states to kill Reg BI investment-advice rule

September 10, 2019

Seven states and the District of Columbia sued the Securities and Exchange Commission and agency Chairman Jay Clayton to overturn an investment-advice rule that is meant to overhaul how brokers work with their clients but that plaintiffs claim...

LPL fired Mark Lamkin. Now he's fighting back

September 10, 2019

LPL Financial fired Mark Lamkin last year. Now the Louisville, Ken.-based adviser is fighting for his professional life. After Mr. Lamkin faced allegations in August 2018 that he received loans from clients, failed to disclose outside business...

Adviser must pay former employer $358,000 for violating employment contract

September 10, 2019

An adviser who left an LPL Finanical affiliate to set up his own firm with Commonwealth Financial must pay his old employer $358,000, according to an arbitration award. After 18 years of employment, Jeremy Bok left Planned Financial Services...

When strong performance sends ETF investors to the exits

September 6, 2019

In the latest sign of growing investor caution, strong performance is not enough to keep assets from moving out of some focused exchange-traded funds. For example, the $105 million Amplify Traditional Data Sharing ETF (BLOK) is up 21.5% from...

Testing the breakaway waters

September 4, 2019

Breakaway, transition, "going indie" — no matter how you characterize it, a wave of financial advisers is moving away from traditional wirehouses and big-name brokerage firms in favor of launching or joining more independent-minded businesses....

'Shark Tank' for RIA fintech looking for new investments

September 4, 2019

ScratchWorks, an accelerator for financial technology targeting the independent adviser market, is launching its third annual program to identify innovative startups worthy of investment. Applications are being accepted from entrepreneurs to...

SunTrust adviser managing $184 million goes indie with Raymond James

September 3, 2019

Evan J. Mayer, who managed $184 million at SunTrust Investment Services in Boca Raton, Fla., has formed The Mayer Group, an independent firm, and affiliated with Raymond James Financial Services. [More:​ See more adviser moves in InvestmentNews'...

Hurricane Dorian puts flood insurance on the front burner

September 3, 2019

There's nothing like the threat of hurricane-force winds to get people thinking about how much insurance coverage they have. But it shouldn't take a natural disaster for financial advisers to start preaching the benefits of having the right...

$21 billion advisory firm is expanding to Europe

September 3, 2019

Tiedemann Advisors, which oversees about $21 billion in assets, is expanding outside the U.S. for the first time to better serve the cross-border needs of its high-net-worth clients and add customers abroad. The wealth management firm's new...

Opening an IRA just for alternative investments

August 30, 2019

With market volatility picking up as stocks hover near record highs, at least one platform is hoping to tap into investor fears by offering direct access to alternative investments in retirement accounts. Nashville, Tenn.-based Alto Solutions...

SEC charges advisory firm, executives with defrauding injured NFL players

August 29, 2019

The Securities and Exchange Commission on Thursday charged Cambridge Capital Group Advisors and two former executives with defrauding former professional football players who had joined a class-action lawsuit against the National Football League...

The upside of betting on inflation

August 29, 2019

With both interest rates and inflation near the floor, fixed-income investors are finding the best opportunity for yield in Treasury inflation-protected securities, or TIPs. "Right now, smarter people are jumping into TIPS because real rates...

Peter Mallouk heads an RIA with $42 billion in assets — and has made only one acquisition

August 28, 2019

Creative Planning is among the largest registered investment advisers in the country, with $42 billion in assets under management among 96,000 client accounts. Until a few months ago, the firm's growth had been purely organic, a remarkable feat...

Team managing $100 million at Morgan Stanley leaves to form hybrid

August 26, 2019

A Morgan Stanley team led by Matt Meline, who managed $100 million in Des Moines, Iowa, has formed a hybrid firm, PrairieFire Wealth Planning, and affiliated with the broker-dealer and registered investment adviser platforms of Sanctuary Wealth....

Verbal agreement became a succession plan

August 23, 2019

Sometimes a verbal agreement is all you need to get a succession plan rolling. That was the case in August 2008, when John Middleton walked away from a job as an institutional portfolio manager at Invesco to become a financial adviser at a $41...

How a Venezuelan immigrant built a flourishing financial advisory firm

August 22, 2019

Bellaria Jimenez was just 7 years old when her family left Venezuela for North Bergen, a New Jersey township just across the Hudson River from New York. Ms. Jimenez, who heads three MassMutual brokerage branches in New Jersey, remembers her...

Dawn Bennett appeals conviction of running $20 million Ponzi

August 22, 2019

After being sentenced to 20 years in prison at the end of last month, former financial adviser Dawn Bennett is seeking an appeal to her conviction on 17 federal charges related to a $20 million Ponzi scheme. Her attorney filed the notice last...

Captrust acquires $3.7 billion San Antonio-based RIA

August 22, 2019

Captrust Financial Advisors, a Raleigh, N.C.-based registered investment adviser managing more than $9.6 billion in assets, will acquire South Texas Money Management, a San Antonio-based RIA firm managing $3.7 billion in assets. [More:​ MAI...

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