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Big drop in retail broker-dealers since 2010: Cerulli
The tally is one more sign that there's increasingly little room in retail brokerage for small or midsize firms.
Northeast RIAs see growth bounce back in 2021
After a trying 2020, large Northeastern RIAs saw growth this year rebound to 8.8%. The InvestmentNews annual review of RIAs by region includes firms with $100 million or more in assets.
What Creative Planning’s deal for Lockton’s retirement unit means for RPAs
The transaction marks the first time a top-five RIA has acquired a top-five retirement plan adviser firm, which could send Creative Planning's rivals scrambling to find larger RPAs.
Military vets best served by those who have served
In the ultimate niche advisory strategy, veterans are stepping in to help current and former members of the military navigate the nuanced world of financial planning.
RIA Summit: Custodians see growth and a lot of work in future
Yes, the RIA industry is growing but it's getting more complex, too, say top industry leaders, including Schwab's Bernie Clark.
Will RIAs or RPAs benefit more as retirement, wealth converge at workplace?
RPA firms are selling at record profits, with deals flow expected to double in 2021, but it pales in comparison to the RIA market. So far, we have not seen any RIA aggregators, other than Captrust, show interest in the DC space.
MAI Capital acquires $230 million RIA
Storey & Associates is based in North Canton, Ohio.
OneDigital acquires $350 million advisory firm
Praxis Consulting, based in Sacramento, California, has $240 million in retirement plan assets and $110 million in personal advisory assets.
Fidelity opens adviser access to fractional shares
Two years after making fractional shares available to retail investors, Fidelity is responding to demand from advisers to work with smaller accounts and further customize portfolios.
SEC charges adviser with steering clients to expensive funds
The Securities and Exchange Commission charged that from at least 2014 until 2019, Buttonwood took steps to avoid paying transaction costs by focusing client investments in more expensive mutual funds.
Do RPAs need wealth management to survive?
Few have figured out how to serve the participants who cannot afford traditional advice. Managed accounts are just a start.
Mariner announces first acquisition since partnering with private equity
Allegiant Private Advisors adds nearly $1 billion to Mariner's assets under advisement and expands the firm's footprint in Florida.
New ‘bond alternative’ ETF targets nervous income investors
Innovator Defined Wealth Shield ETF offers 20% downside protection but caps annual gains at 2.8%.
Securities America fined $1.75 million for rogue broker breakdown
The SEC alleges the firm failed to safeguard clients from Hector May, who pleaded guilty to stealing $8 million from clients and was sentenced to 13 years in prison.
Why ETF track records are becoming an afterthought
Shrugging off the once-coveted, three-year performance record, advisers are pouring billions of dollars in assets into funds with untested histories.
Ric Edelman stepping down from current role at Edelman Financial Engines
Edelman will stay on as a strategic adviser, a board member and the firm’s largest individual shareholder. Currently, he serves as the firm's chairman of financial education and client experience.
Hub acquires Massachusetts RIA
Epstein Financial is based in East Longmeadow and manages 70 retirement plans with $400 million in assets.
Wealth Enhancement Group buys $1.4 billion Hoover Financial Advisors
This marks the second major deal since March for the $35 billion RIA, and it's a sign of more to come, according to CEO Jeff Dekko.
Why advisers are sacrificing momentum to change firms
It seems counterintuitive that an adviser or team who may be riding the wave of their 'best year ever' would change jerseys or break for independence. Yet it’s happening in record numbers.
The latest in financial #AdviserTech — May 2021
The big news, announcements and underlying trends emerging in the world of technology solutions for financial advisers.
