Results for "registered investment advisers (RIA)"

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Dawn Bennett found guilty of $20 million Ponzi scheme

October 17, 2018

Former financial adviser Dawn Bennett was convicted Wednesday in federal court in Maryland of 17 charges related to a $20 million Ponzi scheme. Ms. Bennett, 56, was found guilty of all charges, including conspiracy, securities fraud, wire fraud,...

Captrust acquires $1.4 billion wealth shop

October 16, 2018

Captrust Financial Advisors has acquired FCE Group, a $1.4 billion advisory firm based in Lake Success, N.Y., building on its multiyear strategy to expand revenues from wealth management operations. FCE Group, whose legal name is First Capital...

Fidelity launches company to custody and trade cryptocurrencies

October 15, 2018

Fidelity Investments is launching a new company to offer custody and trade executions of cryptocurrencies and other digital assets. The goal of Fidelity Digital Asset Services is to make things like bitcoin more available to sophisticated institutional...

Making younger clients a top priority — but not the only priority

October 15, 2018

When it comes to serving younger clients, financial advisory firms tend either to dabble in it with whatever leftover resources they have or take a whole-hog approach through something like the XY Planning Network. But that wasn't going to cut...

TD limits number of advisers invited to conference — and not everybody likes it

October 10, 2018

Advisers with less than $75 million in assets under management are not being invited to attend TD Ameritrade Institutional's National LINC conference in February — and it's rubbing some of the custodian's RIA clients the wrong way. TD usually...

Robinhood launches self-built custody and clearing service

October 10, 2018

Online brokerage Robinhood is launching its own custody and clearing system. The move helps the fintech startup, best known for offering zero-fee trading via a mobile app, cut costs in the likely run-up to an initial public offering. It's also...

Baird adds $610 million by recruiting teams from Wells Fargo, Morgan Stanley

October 9, 2018

Baird's private wealth management business has brought on three veteran financial advisers who manage a combined $610 million. Gerald Galbraith and Cathie Coleman of The Galbraith Group in Abilene, Texas, oversee $220 million in assets and generate...

9 predictions for financial advisers for 2019

October 9, 2018

As we roll into the final quarter of the year, David Canter, head of the RIA segment at Fidelity Clearing & Custody Solutions, has been speculating on what financial advisers might expect in 2019. From the future of mega advisory firms to technology...

Highest-paying jobs at advisory firms

October 5, 2018

Independent advice firms have been great places to work in recent years as salaries increased across the board. The latest InvestmentNews survey data show that trend continued in 2017, with lead advisers showing a particularly strong compensation...

FPA welcomes conference attendees with #MeToo notice

October 4, 2018

Attendees of the Financial Planning Association's annual conference in Chicago this week were greeted at registration with a sobering reminder of the times in which we live, in the form of a card detailing the conference harassment policy. The...

How Ohio National's move may lead to 'unscrupulous' broker behavior with annuities

October 4, 2018

Ohio National Financial Services Inc. recently told broker-dealers it would be terminating trailing commissions on some of its variable annuities, which has led experts to fear that the insurer's action will cause unscrupulous behavior among...

Unregistered South Carolina adviser get 6 years in prison for fraud

October 4, 2018

Melvin Wimmer, an unregistered investment adviser in South Carolina who pled guilty to one count of securities fraud in May, was sentenced Tuesday to 75 months in prison. He was also ordered to pay more than $3 million in restitution to clients....

Stifel subsidiary acquires $1.3 billion San Francisco-based RIA

October 2, 2018

1919 Investment Counsel, a subsidiary of Stifel Financial Corp., has acquired San Francisco-based independent registered investment adviser Rand & Associates, which manages approximately $1.3 billion in client assets. "The Rand acquisition gives...

Sanctuary Wealth Partners rolls out red carpet for breakaway brokers

October 1, 2018

Sanctuary Wealth Partners has signed its fifth advisory team in as many months, bringing its total assets under to management to $5.5 billion. The Indianapolis-based hybrid RIA announced Monday the addition of RiceBarrett Family Wealth, a $240...

Focus Financial acquires TAMP for $235 million

September 28, 2018

Focus Financial Partners Inc. is acquiring Loring Ward Holdings for $235 million in cash and stock, in a bid to scale its outsourced services for independent advisers. Loring Ward, which offers a turnkey asset management program, manages $17...

SEC bars Texas adviser for cheating more than 40 investors

September 26, 2018

The Securities and Exchange Commission said on Tuesday it had barred an investment adviser it had earlier charged with lying to dozens of investors in connection with a multi-million-dollar offering fraud. The adviser, Thomas J. Caufield, 59,...

XY Planning Network experiences the pains of rapid growth

September 26, 2018

The XY Planning Network kicked off its annual conference in St. Louis this week with a benchmarking study showing that its members, like many of their clients, often face sharp learning curves. While it would be difficult to dispute the innovation...

Cash comes into focus as interest rates continue ascent

September 26, 2018

Cash, an asset class that's been in the doldrums for the better part of a decade, is beginning to show signs of life. The Federal Reserve cut its benchmark interest rate to near zero a decade ago in an effort to stoke the American economy in...

New Jersey fiduciary rule could be first of many among states post-DOL

September 26, 2018

New Jersey's push for a fiduciary rule governing brokerage firms in the state could be the first of many similar rules issued by other states following the death of the Department of Labor's fiduciary regulation earlier this year. New Jersey...

Private Ocean grows to $2.2 billion with acquisition of Mosaic Financial

September 24, 2018

Private Ocean is continuing its expansion in the San Francisco area with the acquisition of Mosaic Financial Partners. The addition of the $620 million advisory firm gives Private Ocean a presence in San Francisco and the North Bay and East...

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