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Going Independent

  • More Than 75% of Newly Independent Advisors Are Better Off Financially: Study

    February 1, 2012

    Just over three-quarters—76%—of advisors who have recently shifted to an independent business model say they're better off financially, according to a new study by Fidelity Investments. And 64% of those who say they're better off were better off within six months of their move, according to the study.

  • Independent Broker-Dealer Pacific West Closes Its Doors

    December 7, 2011

    Shrinking margins in the independent broker-dealer space have prompted another independent broker-dealer, Seattle-based Pacific West Financial Group, to close its doors.

  • Former Citi Managing Director Launches LVW Advisors

    October 12, 2011

    LVW Advisors will also be a member of New York-based Focus Financial Partners network of firms.

  • Will Big Banks' Recent Woes Lead to Another Breakaway Frenzy?

    September 22, 2011

    The recent spate of bad news for four major banks could eventually yield a new crop of breakaway brokers, according to an attorney who specializes in helping wirehouse advisors go the independent route.

  • FPA Convention 2011: Speed Mentoring Future Financial Planners

    September 16, 2011

    “It’s hard to approach someone" — a prospective employer, for example — and say, ‘I want to be an owner,’” confessed Brett Spencer, a 23-year-old masters student in financial planning from Texas Tech University.

  • Wells Fargo FiNet Snags $1.6 Million Team From MSSB

    August 23, 2011

    Joel E. Chitiea, Paul E. Artof and Jason R. Artof, who garnered a combined $1.6 million in commissions, left Morgan Stanley Smith Barney in May to form Artiea Capital Management.

  • More Reps Leave In-Limbo Securities America

    July 27, 2011

    Securities America, the nation's seventh-largest independent broker-dealer according to Financial Planning's 2011 revenue rankings, continues to lose reps at rapid clip as they and the rest of the industry await the unit's eventual sale.

  • TD Ameritrade Institutional Riding the Breakaway Broker Bandwagon

    July 21, 2011

    TD Ameritrade Institutional has been the beneficiary of the breakaway broker trend as advisors flock to independence amid continuing regulatory worries.

  • Top Independent Broker-Dealers By Revenue in 2011

    June 17, 2011

    Here are the top 84 independent broker-dealers -- listed by revenue rank -- that participated in Financial Planning's 2011 survey along with their corporate contact information, top executives, clearing provider and other key data. Where does your firm rank on this year's list?

  • The Who's Who List of Independent Broker-Dealers for 2011

    June 16, 2011

    Here's a handy, alphabetical listing of all the independent broker-dealers that participated in Financial Planning's 2011 survey along with their corporate contact information and sales rank for the year. Did your company make the cut?

  • FP50: The Largest Independent Broker-Dealers

    June 14, 2011

    LPL again tops Financial Planning's annual ranking of the biggest B-Ds by revenue. But what other companies made the list?

  • Bank of America Hires Two Morgan Stanley Advisors

    June 7, 2011

    Bank of America Merrill Lynch has hired Morgan Stanley Smith Barney financial advisors Matt Burton and John Cate to its Carmel, Ind. office.

  • UPDATE: One of LPL’s Largest Wealth Managers to Become Independent RIA

    May 2, 2011

    Carson Wealth Management Group announced Monday it will become an independent RIA in July, but will further expand by added a broker-dealer arm later this year.

  • Fidelity Unveils Marketing Toolkit For Independent Advisors

    April 29, 2011

    To give its 3,000-plus independent advisors an edge, Fidelity Investments introduced the Business Development and Marketing Planning Toolkit, an interactive PDF that advisors, firms and advisor teams can use to better define themselves, identify exactly the type of clients they want to attract and retain and, perhaps most important, ensure their customers know enough about them and their services to provide a meaningful referral to potential new clients.

  • Independent, Wirehouse Advisors Share Problems, Maintain Different Strengths

    April 13, 2011

    It's not exactly cats and dogs living together, but a new white paper from Sanctuary Wealth Services surmises that independent advisors and wirehouse brokers could definitely learn a lot from each other when it comes to attracting and retaining clients and would do well to learn from each other's mistakes in the future.