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The wealth division has $700 million in assets under management, according to its latest Form ADV, and only 20 employees performing 'investment advisory functions.'
Savant's latest deal exemplifies a growing M&A trend: Larger RIAs buying smaller advisory firms, often in the same geographic region.
The job offer from a commercial landscaper came "out of left field," says Dan Krems.
Public hearings begin on Aug. 10 and comments may stretch beyond four months.
Key to the hire was ex-Fortigent CIO Scott Welch's strong relationships with many of the country's top RIA wealth managers.
Gen X has more money than the younger millennial cohort -- but it has the same cultural disconnect with advisors. Advisors should start worrying.
Impressed by LPL's size and scale, Faubourg Private Wealth Advisors also liked the idea of working with super-OSJ Level Four for additional flexibility, the firms' investment models and multi-custodian platform.
Cetera's assets under management climbed to $46 billion for the first quarter, up 32% from $35 billion for the same period last year. Adjusted EBITDA soared 50% to $36 million.
"LPL's supervisory breakdowns resulted from a sustained failure to devote sufficient resources to compliance programs integral to numerous aspects of its business," said Brad Bennett, FINRA's executive vice president and enforcement chief.
IBDs are being "purposefully indecisive," when it comes to robo advice, says Celent senior analyst Will Trout. "They are playing a watch and wait game."
"We're betting on financial advisors and personalized financial advice delivered by people," says RJFS President Scott Curtis.
The giant IBD's lingering compliance issues should be "all done in 2015," says chairman and CEO Mark Casady.
The giant IBD is focused on recruiting more than acquisitions, says new president Dan Arnold.
Fidelity's custody unit is backing a deal in which a Mariner Holdings unit will pay 35 basis points for referrals of mass affluent customers.
Convincing advisors "why they should stay" and continue to grow with Cetera will be a priority for Ballard.
Advisors face a shifting landscape on both competitive and economic fronts. Many argue that it's time to scrap the AUM fee altogether.
"We're monitoring the situation in Indiana pretty closely, and will consider a range of options," says NAPFA chief executive Geoff Brown.
Revenue grew faster than assets for advisors, a PriceMetrix report finds -- but average client age is now nearly 62, and increasing at a rate of roughly 6-7 months per year.
Fraud can occur in a myriad ways, from email scams to ID theft to manipulation of investment valuations. See a dozen common frauds -- and ways advisors can help prevent them.
Affiliated Advisors Group, which manages approximately $600 million in assets, will operate as an OSJ branch within Royal Alliance, part of the AIG Advisor Group network.