Updated Monday, April 21, 2014 as of 8:09 AM ET
Cerulli IDs $74 Billion Exit From Wirehouses
Advisors don't need a national brand behind them to attract assets, say recruiters and RIAs after new research from Cerulli Associates that shows a strong flow of assets toward independent advisors from the big wirehouses.
"Advisors are more focused on transparency and gaining access to a wider array of the most suitable solutions for their clients,” says Ned Van Riper, an advisor recruiter. “Clients are working with advisors based on their relationship with the advisor, not the firm behind the advisor."   more »
More in RIAs
Three advisors for San Diego-based Total Wealth Management -- including one who apparently once worked for the FBI -- now face SEC charges for allegedly paying themselves concealed revenue-sharing fees from investments they recommended to clients. more »
Washington Wealth Management has recruited two advisors from UBS and Wells Fargo, where they collectively managed approximately $150 million in assets. more »
NAPFA has named a fee-only RIA who has served in the U.S. Navy to serve as its next national chair. more »
Study finds short-term AUM and compensation growth, but long-term problems ahead for financial advisors. more »
AUM drops 31% as more top brass depart, with parent SunTrust filling executive ranks with veterans of the bank. more »
Head of LPL's Advisor Services' departure 'not related to company performance,' according to a company statement. more »
Integrating online and in-person advisor experiences to keep up with the competition will be a critical priority for wealth managers, according to the report. more »
Louisiana-based Summit Financial aims to expand establish itself as a regional power in the Southeast, leveraging its location between New Orleans and Houston. more »
For investment advisors with a small pool of clients, the threat of a cyber attack that could compromise investors' personal identifying information is especially acute, says one IT expert. more »
Kitces and Alan Moore are launching XY Planning Network, which will assist financial advisors working with Gen X and Gen Y clients. more »
'It's a landscape-changer for Lebenthal,' says one industry consultant. 'A team with a book like that can write their own ticket, and if they're successful at Lebenthal, they can attract other big teams.' more »
Firms in the self-serve channel that can "combine delivery mechanisms" will be a "smart bet" going forward," predicts Tiburon managing partner Chip Roame. more »
Almost two months after a court order, the CFP Board has failed to produce the required documents, Florida planners say. more »
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