The enhanced site allows advisors to alter certain components of their profiles at will -- though not their disciplinary history.
Expansion-minded Savant Capital Management has bolstered its presence in the vibrant Chicago metropolitan market, acquiring Paragon Advisors, a $150 million firm in Naperville, Ill.
A big LPL practice with $3.7 billion in assets under management is picking up a $300 million Chicago-area firm.
Even as the SEC is contemplating an expansion of fiduciary rules to include broker-dealers who operate in the retail space, some advocates argue that the regulatory interpretation of the responsibilities under a fiduciary standard has strayed from common-law precedent and become dangerously diluted.
NetVEST, which is returning to LPL, has approximately $200 million in client assets and specializes in establishing revocable and irrevocable trusts. The firm had been affiliated with Ameriprise for the past year; but had been with LPL for almost 20 years before that, however.
For Jeffrey Thomasson, founder of Oxford Financial -- the largest firm on Financial Planning's 2013 RIA Leaders list -- smooth waters means its time to rock the boat.
The independent broker-dealer got into hot water over unsuitable fund sales, according to FINRA.
Exclusive: In the wake of its CEO's bike crash, a series of changes at San Francisco's Presidio Group has put expansion plans on hold and left the firm working to rechart its course.
For United Capital's newest advisor, it was the tools that closed the deal.
The overall advisor population has been sliding -- and a new study finds that only one category of advisors is expanding to fill the gap.
Are smaller firms getting squeezed by competition and consolidation or are new technologies and resources changing the game? Peter McGratty of Pinnacle Advisor Solutions sees opportunities ahead for small RIAs.
The fast-growing Kansas-based advisory firm with national ambitions has planted its flag in New York City, signing on RR Advisory Group.
Although many in the industry consider Dynasty and HighTower rivals for the allegiance of breakaway teams and independent RIAs, CEO Shirl Penney says Dynasty doesnt run into [HighTower] as much as you may think.
Northwest Savings Bank in Warren, Pa., has agreed to acquire a financial advisory firm and an employee benefits and consulting insurance company.
A growing number of firms are bringing on COOs & CFOs -- and looking outside the industry for help.
HighTower has picked off $320 million New York-based Merrill Lynch team LCK Wealth Management for the partnerships third addition in as many weeks.
An SEC advisory committee on Friday recommended that the commission appeal to Congress for authority to collect user fees from advisors to enhance its oversight of the RIA sector and enact rules to tighten regulation of broker-dealers.
The Financial Services Institute, a trade group representing independent broker-dealers and advisors, has elected two new IBD execs to its 2014 board.
Two Florida advisors have been charged with defrauding their clients, including many retirees, in an offshore fraud scam.
G. Moffett Cochran, co-founder and chief executive officer of Silvercrest Asset Management Group Inc., a New York-based firm catering to wealthy families, which went public in June, has died. He was 63.
Spurred by the brisk stream of breakaway brokers, HighTower has doubled its recruiting team and lured two new partnership teams: Andriole Group and Klein Wealth Management.
Three deal-tested wealth management firms offered advice to planners at Schwab Advisor Services' annual Impact conference.
It looks like the CFP Board of Standards isnt getting into the business of becoming a continuing education program provider -- at least for now.
Activities unfolding within 3 separate industry rulemakers -- the SEC, FINRA and the Labor Department -- suggest changes ahead for both brokers and advisors.
New registrants with the SEC or veteran advisors who haven't been examined in many years can expect to hear from regulators in short order, a prominent securities lawyer told attendees at Schwab Impact conference.
In a business update to CFP holders, the board presents research on its Let's Make a Plan campaign, clarifies its fee-only position -- and skips a discussion of recent controversy.
The new model has to be able to serve clients "any time, any place and anyhow," said Bernie Clark, the head of Schwab Advisor Services at the financial service giant's annual Impact conference in Washington, D.C.
Demand is high for experienced executives across all channels. While advisor migration to independent RIAs remains the dominant trend, large wirehouse and bank players are also very much in the game for talent.
State securities regulators have been ramping up examinations of investment advisors in the aftermath of the Dodd-Frank Act, which required more than 2,000 midsized advisors who had been overseen by the feds to register with state authorities.
Newly formed Orgel Wealth Management, with $4 billion in assets under management, is redefining the process of going independent.
Banyan Partners,the $4.3 billion Palm Beach Gardens, Fla.-based RIA, wants to hit $10 billion in assets in the next three years, establish a national brand and secure significant wallet share in both the high-net-worth and multifamily office markets.
Genworth Wealth Management, with $20 billion in assets under management, on Wednesday announced a long-anticipated name change.
After spending 13 months conducting extensive due diligence research on the top 50 independent broker-dealers, Houxeholder Group decided that LPL, the nations largest independent broker-dealer, was best suited to support the firms next chapter of growth.
The company has a new deal with a Texas firm targeting ultrahigh-net-worth clients.
Heres a look at ten of the most influential executives in the business and their insights, concerns and predictions for the future of the advisory industry.
Chat Reynders, chairman and CEO of Reynders, McVeigh Capital Management, an RIA with about $900 million in assets under management, speaks about why socially responsible investing is essential for advisors to better connect with younger generations, avoid liability and improve transparency with clients.
Merrill Lynch's John Thiel predicts that in the not-too-distant future, RIAs will grow up to look just like their wirehouse competitors.
Bob McCann, CEO of UBS Group Americas, says while independent channels are making in-roads and can't be ignored, the threat doesn't keep him awake at night.
A husband-and-wife planning firm and the CFP Board have traded jabs in court over whether the planners can seek damages in their lawsuit against the board.
A measure that would put the brakes on the Department of Labor's proposal to establish a fiduciary standard for advisors to retirement plans was approved by the U.S. House of Representatives in a largely party-line vote on Tuesday.
The CFP Boards highly publicized $36 million 'Let's Make a Plan' campaign may have misled consumers.
The firms have been sanctioned by the SEC for violating the custody rule that requires them to meet certain standards when maintaining custody of their clients funds or securities.
Lawmakers are set to begin debate today on a bill that would delay, perhaps indefinitely, a proposal by the Department of Labor to impose a fiduciary standard on advisors to retirement plans.
The Opsahl Group, led by senior advisor Joseph Opsahl and advisor Chris Hatfield, is leaving Merrill Lynchs Private Client Group to work with True, a key Dynasty Financial Partners firm in the Pacific Northwest.
Stacy Francis of Francis Financial speaks about how she cultivates relationships with divorce attorneys to expand her divorce financial planning practice.
Saying the new cash will be used to fund growth, CEO Joe Duran targets $200 million to $250 million in annual revenue.
In seven years, Focus Financial has grown to $65 billion in AUM from $3 billion. CEO Rudy Adolf shares the companys growth strategy.
The CFP Board cannot justifiably act as both a regulator for continuing education providers and as a CE provider themselves, FPA president Michael Branham said to a burst of applause Sunday at the general session of the associations annual conference.
Financial planning is still a relatively young profession with a lot of growing pains, according to the incoming president of the FPA.
Large firms are targeting smaller lifestyle advisors who want to remain independent but need resources, guidance and business support from the substantial ecosystem of solutions that are now available.
Mariner Wealth has jumped into the burgeoning space recently abandoned by LPLs NestWise.
With $1.4 billion in assets already, firm aims to become a Southern California giant.
Three big industry names are joining forces to form a new wealth management firm, Lebenthal Wealth Advisors.
Educators say they expect full explanation and transparency.
NAPFAs new leaders are stressing new initiatives to expand the organizations education programs and its membership.
In the latest deal for Focus Financial Firm, Boston-based RIA expands footprint, sees more acquisitions ahead.
Amid a surge in consumer assets, firms that cater to high-net-worth clients have a particular advantage, Chip Roame told an audience at the Tiburon CEO Summit.
The turnkey asset management platform taps executives with experience at Fidelity, Schwab and Russell Investments.
The SEC says it has reached a settlement with a Nebraska investment advisory firm charged with breach of fiduciary duty involving three funds it managed over the course of the previous decade.
Firm founded by ex-PayPal & Intuit CEO opens Denver office as digital upstarts jockey for tech-savvy clients.
Independent RIAs in the increasingly competitive -- and lucrative -- San Francisco Bay Area market may have to raise their game, according to a leading investment banker.
Atlanta Capital and PFM say they will offer more concierge services to families with less than $20 million in AUM.
Two planners who are suing the CFP Board amended their complaint to seek unspecified damages in addition to earlier claims seeking an admission of fault from the board as well as the quashing of a public sanction for calling their practice fee-only.
Two prominent industry experts offer some spirited discussions on a few of the most contentious M&A issues.
Expect powerful regional RIAs to emerge from the current round of financial advisory deal-making.
Beverly Hills Wealth Management has launched an internal asset management division with the addition of the emerging McComsey Asset Management, with $30 million in assets under management, to help attract a greater number of breakaway brokers.
Significantly altered results now appear when users search for fee-only advisors.
While the coming fiscal debate looms in the background -- along with probable accompanying market volatility -- there are a number of other possible legislative and regulatory items that also affect the insurance and advisory industry.
Sometimes changing broker-dealers doesn't work out the way you expect. Just ask Wayne Maier, a financial advisor in Bay City, Mich.
New hires bolster the firm's recruiting and succession planning units.
Exclusive: Without any notice, fee-only is replaced with none provided on CFP holders profiles.
Exclusive: Widespread abuse of the term raises question of a disciplinary double-standard.
New York, California and Texas will be ground zero for Fiera Capital, the $71 billion Canadian investment manager that is hoping to crack the top tier of the U.S. private wealth market.
To have a national brand, you have to have a client experience that can be duplicated in every location, like Starbucks," says Rudy Adolf, CEO of Focus Financial Partners. "No advisory firm has the ability to deliver this kind of promise," he says.
The expansion-focused $6 billion wealth manager has added Santa Barbara-based Pacific Pointe to its roster, making it the fifth firm in Beacon Pointes growing stable, and the fourth in California.
Senior executives with leadership experience and strong sales skills in high demand as current advisors look to retire.
Amid growing industry debate over compensation disclosure, the FPA has changed the compensation disclosure options on its website.
Now that profits are at record highs, financial advisors' next priority should be better people management, according to the 2013 FA Insight Study of Advisory Firms: People and Pay. Cost control, solid productivity and soaring client profitability helped the typical advisory firm reach a profit margin in excess of 20% in 2012, the highest margin in the survey's five-year history.
Huntington announced today that Gregory A. Smith was named president of Cincinnati-based Haberer Registered Investment Advisor, a wholly-owned subsidiary of the Huntington National Bank.
Beginning next month, a number of tech firms that are also RIAs are poised to enter the red-hot online advisory space, offering consumers not only financial guidance but specific buy/sell/hold recommendations for mutual funds and ETFs, based on algorithms and aggregation of clients accounts.
The advisory industry is already locked in fierce competition to recruit new advisors. Now TD Ameritrade Institutional is ratcheting up its efforts to attract talent.
A spike in the proportion of RIA-to-RIA deals in the first half of this year may signify that the advisory field is starting to come into its own.
In an effort to help attract a new generation of financial advisors, TD Ameritrade has awarded $50,000 in scholarships to 10 financial planning undergraduate students from around the country. Scholarship winner Kelsey Brooks, a college senior at the University of Georgia, says that the industry must do a better job of incorporating technology and face-to-face interaction, and must work hard to earn back trust and loyalty, which was hurt following the financial crisis. (The Museum of American Finance, New York City, August 21).
Edward Gjertsen II, vice president of Mack Investment Securities in Glenview, Ill,. has been named FPA president-elect by the organizations board of directors. Gjertsens one-year term as president-elect begins on January 1, 2014.
Independent wealth management firm Banyan Partners is nearly doubling its assets under management to $4 billion by acquiring two firms simultaneously.
AMG Wealth Partners has taken a minority stake in Tarrytown, N.Y.-based Clarfeld Financial Advisors, a $4 billion firm with a London office that specializes in serving wealthy U. S. citizens living abroad. The investment is the second since the division was formed two years ago as a subsidiary of AMG, which has more than $470 billion in assets.
LPL wants its advisors to know that it has heard their complaints and is doing something about them.
Carson's coaching firm, Peak Advisor Alliance and digital content firm, Faulkner Media Group have joined forces to create a new digital content service for advisors.
While the nation's largest independent broker-dealer says it has no imminent plans to own a bank, it now can if it wants to -- thanks to the announcement of a stock distribution by two of the firms original private-equity investors.
Fewer RIAs this year are in the mood to sell thanks to stable growth in the markets.
The latest Focus catch is a big one: Southfield, Mich.-based Telemus Capital Partners, which provides investment management, financial planning, retirement and estate planning, life insurance and tax consulting to nearly 600 clients across the country. The firm has more than $2.2 billion in client assets.
Private Advisor Group, the largest branch of LPL Financial, has hired Abby Salameh as part of the units senior executive team as it expands its advisory services.
Vikki Lenhart, an advisor at Hart & Patterson Financial Services, explains how many of her clients have been impacted by the Supreme Court's June 26 decision striking down DOMA, the Defense of Marriage Act, which barred the federal government from recognizing same-sex marriages in states that allow them. Hart & Patterson is an all-women Amherst, Mass.-based advisory firm, which works largely with same-sex couples.
First came the big airline mergers. Now two Dallas RIAs that focus on airline pilots have combined as well.
Even Federal Reserve Chairman Ben Bernanke finds gold prices confusing, so how will advisors react to a gold bullion mutual fund?
Focus Financial Partners, one of the countrys largest RIA aggregators, has recorded its fourth deal of the year.
Richard Brown, CEO of JNBA Financial Advisors and financial planning instructor at the University of Minnesota Duluth, says that top-tier students see the most opportunity in the independent RIA world, where you can really find your niche.
Investors are living beyond their means, not saving enough, and are reluctant to take financial action. Tim Minard of Principal Financial Group speaks about investors' most common financial blunders and how advisors can best handle them.
LPL Financial Holdings reported the strongest quarter in the companys nearly three years as a public company, with net revenues topping $1 billion for the first time. LPLs board of directors also announced the companys quarterly dividend would be raised 40% to 19 cents per share.
Washington Wealth Management is continuing its rapid growth -- albeit at a slighter slower pace than its own CEO had forecast.
Questions about the future of online advice have intensified since Bloomberg LP, the multibillion-dollar data, information and media giant, said last week that it was shutting down its own online wealth management offering, BloombergBlack.
The new portfolio management and research tool is aimed at advisors in both Raymond James' employee and independent channels.
Doug Orton, vice president of business development for MFS Investment Management, talks about why -- judging from a recent study -- advisors and clients are often at a disconnect with regard to market confidence, asset allocation, and family finance discussions.
Advisors have some more competition brewing in the still-nascent online planning world.
Broker-dealer Waddell & Reed has recruited six new financial advisors, for a total $141.4 million in new assets under management.
With three more even larger deals expected to be completed by September, Carson Institutional could become a serious alternative to some of the leading roll-up firms in the nation.
Advisors in all channels saw fee income increase as a percentage of their compensation over the past year, according to a new study.
Financial advisors across the spectrum -- at registered investment advisors, wirehouses and independent broker-dealers -- are at a loss when it comes to understanding liquidity of exchange-traded funds, according to research from Cerulli Associates.
Independent broker-dealer Securities America is pressing ahead with its aggressive recruitment campaign, hiring three regional directors to help attract prospective independent advisors, the firm announced Tuesday.
Beefing up its presence in Sacramento and Newport Beach, Calif. Beverly Hills Wealth Management has lured the Sullivan Wealth Management Group from Morgan Stanley.
PIMCO last month teamed up with product and technology platform provider Aria Retirement Solutions and insurer Transamerica Advisors Life Insurance Company to market contingent deferred annuities to asset-based fee-only registered investment advisors. The name of the new product: RetireOne Transamerica II.
Founder Eric Schwartz is making big plans to preserve the firms independence and viability for the long term -- by giving away control now.
In the most recent expansion of its planning services, Raleigh, N.C.-based Capital Investment is adding five new financial advisors.
Northstar Wealth Partners, the largest LPL Financial-affiliated wealth management firm in Connecticut, has nearly doubled its assets under management to just under $2 billion -- by recruiting two advisors formerly with Essex Financial Services in Essex, Conn.
Securities America has ramped up the fierce competition for independent advisors, launching a new RIA targeting advisors with between $50 million and $250 million assets under management.
The division, created in 2001 and made up of affiliated RIA firms who custody their assets with Raymond James, now includes about 100 firms, approximately 250 advisors, and more than $8 billion in assets.
Raymond James lured six advisors with over $350 million in client assets to its independent channel, the company announced Thursday.
The acquisition comes just nine days after United Capital acquired an Atlanta wealth manager and is the latest example of the firms aggressive, Starbucks-inspired expansion strategy.
Sanctuary Wealth Services, a San Francisco-based platform provider and services support firm for wealth managers, has snagged a Morgan Stanley breakaway team specializing in proprietary asset management.
One key element separates the fastest-growing RIA firms from their peers, according to a new Schwab report.
The Boston company said it is realigning to better serve advisors in the independent, bank, broker-dealer and family office channels.
St. Louis-based Buckingham Asset Management has added JWA Financial Group of Dallas in its latest acquisition.
To continue its expansion in Atlanta, United Capital announced Monday it bought the majority of the assets of Atlanta-based PPA Advisors.
On the morning after the demise of the Defense of Marriage Act, Vikki Lenhart of Hart & Patterson Financial Services conducted a financial assessment for one of her same-sex clients and realized they are entitled to $36,000 in additional Social Security income.
The PFM Group announced Thursday that it has acquired an advisory firm in Washington State as part of its continued expansion in the Northwest region.
LPL Financial hired an ex-SEC official as its new general counsel as the firm continues to restructure its management team.
LPL Financial, the nations largest independent broker-dealer, has reached $50 billion in total RIA assets under custody, doubling its year-ago total.
Within the fee-only landscape, there are a number of ways to charge clients. Being up front and honest about your fees is one way to build trust with clients says advisor Karen Ramsey.
The National Advisors Trust of South Dakota will give National Advisors-affiliated RIAs and their clients access to some of the most flexible trust and tax statutes in the nation.
BNY Mellon Investment Management has hired Andrew Provencher as Head of U.S. Retail Sales, a newly created role in which he will be responsible for leading all sales and relationship management through the Dreyfus platform focusing on national wirehouse firms, Registered Investment Advisors, independent broker-dealers and private banks.
Christian Widen has left his position as a director of Pershing Advisor Solutions to return to the rapidly growing firm where he began his career, Boston-based U.S. Wealth Management.
Advisors with at least some technology integration can perform a whole lot better than RIAs with none, according to a report from Aite Group, the Boston-based research and consulting company.
First Allied Holdings, an independent broker-dealer, is set to be acquired by RCAP Holdings.
John Hancock Financial Network is picking up another 280 registered representatives?with the acquisition of Symetra Investment Services.
Fidelity Institutional Wealth Services introduced a platform that it hopes will make mergers and acquisitions easier for registered investments advisors.
Commonwealth Financial Network, the nations largest privately held independent broker-dealer, named Rich Hunter president and chief operating officer on Friday and also announced new affiliation models for its nearly 1,500 financial advisors.
Advisors are wary of BNY Mellon's plan to provide private banking services to RIAs.
Art Tambaro, president and CEO of Royal Alliance Associates, (left) one of four independent broker-dealers owned by AIGs Advisor Group, will retire at the end of the year. He will be replaced by Dmitry Goldin, a member of Royals senior leadership team for the last decade.
Theres a huge shift this year from last year in overall optimism from the advisors, says Mark Schoenbeck, senior vice president of marketing for Curian Capital, the asset management firm that conducted the 2013 Curian Capital Survey. It was a pretty big swing.
The Palm Beach Gardens, Fla., wealth management firm announced Monday it will acquire Silver Bridge Advisors of Boston, forming a $3.4 billion RIA to join the growing list of independent advisory firms hoping to establish a national footprint.
Financial advisors are setting aside their doubts and embracing the recovery.
Connecticut Wealth Management is now the largest independent planning firm in the Hartford area after acquiring a rival with $120 million in assets under management.
The network was launched in September to help breakaway brokers transition from the traditional wirehouse model to independence.
The platform will provide Dynastys advisors with a turnkey solution for writing fixed life insurance, annuity, disability, and long-term care contracts.
U.S. Wealth Management, an independent network of wealth managers, has added two financial advisory practices to its platform, expanding its total recruited advisory and brokerage client assets.
After LPL Financial agrees to pay FINRA case, compliance expert says theres no legitimate excuse for email missteps.
Austin Philbin, of Dynasty Financial Partners, explains why athletes are often led astray when it comes to finances -- and suggests how advisors can do a better job working with them.
Independent advisors should be preparing themselves more aggressively for sale and consolidation, a new study says.
This is not an easy business, Carson told an audience on Thursday of over 500 advisors at the 24th Peak Excell Meeting. It is a rewarding but difficult business
and we have to constantly reinvest and reinvent.
In five years, Stratos Wealth Partners has grown from a glimmer of an idea to a firm with 130 advisors nationally and over $6 billion in assets under management. The secret to its success: a hybrid RIA model.