Results for "registered investment advisers (RIA)"

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Are you serious, Wall Street? A response to the #MeToo 'advice' of men

December 5, 2018

This open letter is a response to a Bloomberg article​ InvestmentNews ran Tuesday about some male Wall Street executives whose concerns about #MeToo accusations have led them to limit the ways in which they work with female colleagues, for...

Market volatility pushes more RIA owners to negotiating table

November 27, 2018

The choppy financial markets might be rattling investors, but for savvy owners of advisory firms the scenario is playing out perfectly because it's driving merger and acquisition activity. Those paying close attention are not surprised that...

Kovitz Investment Group acquires Northern Capital Management

November 26, 2018

Chicago-based registered investment adviser Kovitz Investment Group announced Monday it is acquiring Northern Capital Management, a Madison, Wisc. -based RIA with $544 million under management. The deal, which will close early next year, marks...

Emigrant Bank takes sole ownership of RIA consolidator Fiduciary Network

November 21, 2018

Emigrant Bank is now the sole owner of Fiduciary Network, a Dallas-based consolidator of registered investment advisers. The privately held, family-owned bank completed a deal to acquire the remaining 25% stake it did not already own in Fiduciary...

Fight for New Jersey fiduciary rule yields doomsday rhetoric from both sides

November 19, 2018

The fight over New Jersey's proposed fiduciary standard for brokers has only just commenced, and stakeholders on both sides of the spat already are resorting to gloom-and-doom forecasts, linking the rule's fate to an impending catastrophe and...

Embrace innovation to attract next-gen investors

November 19, 2018

Millennials, generally defined as Americans born between 1980 and 2000, make up the largest demographic group among U.S. adults, and they are quickly becoming the wealthiest. Research from Deloitte estimates that the total net worth of this...

They have little tolerance for sexual harassment, but most advice firms lack formal policies

November 17, 2018

As various forms of high-profile sexual harassment and assault charges have dominated news headlines over the past year, the financial advice business has been struggling with how to address an issue that largely has, until recently, been side...

Brown Advisory acquires Signature Family Wealth Advisors

November 16, 2018

Brown Advisory has reached the $67 billion assets under management mark with the acquisition of Signature Family Wealth Advisors, a $4.3 billion family office advisory firm. The deal, which was not preannounced, was completed Thursday, one month...

Mercer Advisors bags its third RIA this month

November 15, 2018

Mercer Advisors will increase its total assets under management to $14.5 billion with its latest acquisition, of Financial & Investment Management Group. FIM Group, which manages $600 million with offices in Michigan and Wisconsin, marks the...

Quick change in plans has Bob Oros headed to HighTower

November 14, 2018

Two weeks ago, it was announced that Bob Oros was leaving HD Vest Financial Services after less than two years as its CEO. The company seemed OK with the decision and pleased that he was going to stay on until March as a consultant. How quickly...

Fiduciary leader Phyllis Borzi joins Edelman Financial Engines board

November 13, 2018

Phyllis C. Borzi, former Department of Labor assistant secretary and mother of the DOL fiduciary rule, has been appointed to the board of directors at Edelman Financial Engines. The firm, which combined Edelman Financial Services and Financial...

Commonwealth Financial Network to launch parallel business for RIAs

November 13, 2018

Commonwealth Financial Network, already a major independent broker-dealer, intends to broaden its business by setting up a parallel business for registered investment advisers. Commonwealth has already seen at least 75 of its 1,800 reps shift...

Mariner Wealth Advisors acquires $2 billion Patriot Wealth Management

November 13, 2018

Mariner Wealth Advisors has acquired $2 billion Patriot Wealth Management. The acquisition, which will become effective at the start of 2019, is Mariner's most recent development in its growth strategy and its first venture into Houston. Mariner...

TCA by E*Trade lures Edelman Financial Engines with promise of client referrals

November 13, 2018

TCA by E*Trade is claiming to have hit the jackpot with its pending adviser referral program attracting Edelman Financial Engines, one of the nation's largest RIAs. While both the $20 billion custodian and the $200 billion advisory behemoth...

Focus Financial Partners not afraid of market volatility

November 13, 2018

Stock market volatility is a plus for the Focus Financial Partners (FOCS) business model, according to chairman and CEO Rudy Adolf. "Volatility is actually a good thing because it shows the value of prudent financial advice," Mr. Adolf said...

Mercer Advisors moves toward $14 billion AUM with Sigma deal

November 12, 2018

The shopping spree continues at Mercer Advisors, which announced Monday its second acquisition of the month, pushing the fast-growing acquirer to nearly $14 billion in assets under management. This week's deal involves Sigma Investment Management...

Finra finds Commonwealth Financial overcharged these investors

November 12, 2018

Commonwealth Financial Network becomes the latest firm caught up in Finra's focus on overcharging retirement plan investors via mutual fund share classes. The Financial Industry Regulatory Authority Inc. found that over eight years through July...

Transaction loans for independent advisers seeking a partial business sale

November 12, 2018

As the succession planning transaction market continues to accelerate, independent financial advisers who are nearing retirement and seek a partial liquidity event as part of their succession plan are realizing that prevailing wealth management...

Avoiding management overload by delegating

November 9, 2018

Julia Carlson never had much trouble attracting clients to the advisory firm she launched in 2009. But when she started growing by about $40 million a year, she began to recognize the firm's lack of business structure was a potential calamity...

Broker-dealer CEO sees rapid escalation of brokers abandoning commissions in favor of fees

November 9, 2018

The chief executive of a leading independent broker-dealer is seeing a rapid escalation of brokers abandoning commissions in favor of charging clients annual fees. Wayne Bloom, the CEO of Commonwealth Financial Network, said these brokers are...

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