Articles Published October 2009

McWhinney chooses someone she knows and trusts

McWhinney gains aid of Myra Rothfeld
Citi continues to draw on former Schwab talent

Friday 10.30.09
Dan Seivert: "Mergers, as opposed to acquisitions, may suit you better if you have little cash."

Beware the time goblins in M&A deals
Ask these eight questions before shopping for advisory practices

Friday 10.30.09
Reed Colley: “We’re working on some really great ideas including CRM integration, workflow analysis and advisor communities

Black Diamond green lights beta testing of BlueSky
Reed Colley is wise to not rest on his laurels, observers say

Thursday 10.29.09
Peter Hess: “It’s more affordable and it’s more of an offering.”

Outsourcing begins to catch fire at Advent Software
Hess recognizes that a new breed of advisor doesn't want the 'dirty work'

Wednesday 10.28.09
Kristina Fausti is watching for whether fiduciary standard will apply only to personalized investment advice provided to retail investors

SEC one step closer to losing oversight of most RIAs
But will budget-crunched states do a better job?

Wednesday 10.28.09
Ed Friedman: “We ask them, do you really need somebody just to get lunch and coffee?”

The seven things I learned from roll-up executives in Princeton, including not to call them that
Four CEOs of aggregators choose four different paths to growth

Tuesday 10.27.09
Reed Colley: “If we can’t make an advisor happy, we encourage them to find another solution that will.”

Black Diamond is winning big accounts from Advent at an impressive clip
The Florida-based upstart has tripled its pipeline of customers since 2008

Monday 10.26.09
Bernie Madoff: Elie Wiesel trusted this solemn face and so did the heads of 150 foundations

Private foundations: Five steps to keep the next Bernie Madoff away from your assets
It's the process that matters; overly consistent returns are just one red flag

Friday 10.23.09
Mindy Diamond says of today's breakaway prospects: These are numbers guys.

Top breakaway panel schools RIAs on how to create a cushier deal for financial advisors than a wirehouse
RIAs want to bring aboard wirehouse producers and they want to do it now

Friday 10.23.09
James Burton sought to create easy-to-use platform

Fidelity to provide Wall Street-style access to international investments
Boston brokerage gets edge on close rivals but State Street is still king for global investing diehards, advisor says

Thursday 10.22.09
Mike Di Girolamo: “Advisors want to find out who their peers are.”

Raymond James shows it's serious about winning bigger RIAs
Raising minimums is part of creating an atmosphere more conducive to elite advisors

Thursday 10.22.09
Brian Hamburger: “I’ve been critical of investment advisers. I don’t think they’ve taken advantage of this time [of upheaval].”

Merger and breakaway experts convene near Princeton at old Merrill Lynch lair
Attendees will shares notes on how to dismantle wirehouse salesforces

Thursday 10.22.09
Patrick Sullivan has brought 80 fellow advisors under his firm's compliance umbrella

LPL Financial wins more breakaway brokers by sacrificing a revenue stream
Morristown Financial Group finds lucrative niche by taking over some supervisory duties from fellow brokers

Wednesday 10.21.09
Liz Hayden: It should be possible to make across-the-board portfolio changes with just a few keystrokes

Here’s how advanced trading technology boosts financial advisors even if they eschew market timing
Done right, model portfolios solve a host of efficiency problems

Tuesday 10.20.09
Krawcheck tells InvestmentNews:“What we’re seeing now is independent advisers asking how they can join us."

6 things to consider when reading Sallie Krawcheck's comments in interviews
Critics say mixed motives may explain head-scratching comments by CEO of Merrill Lynch

Monday 10.19.09
Barnaby Grist: “We think the rest of the year looks good but we can’t expect the strength of September to continue.”

Schwab and TD Ameritrade go on breakaway recruiting tear in September
Larger number of bigger teams seek greener pastures as RIAs

Friday 10.16.09
Obama's quest for harmony may create dissonance for RIAs

Eight things necessary to keep RIAs from answering to SIFMA
Multiple strategies needed to counter deficit in numbers

Thursday 10.15.09
Matthew Cooper: “These guys are hyper-sensitive to changes in the grid.”

Citi advisors seek potential suitors after McWhinney's tectonic pay shift
Beacon Pointe is busy interviewing nervous Citi advisors

Wednesday 10.14.09
Tom Bradley: Appreciated for making the big speech at small-budgeted conferences

The FPA convention hits its stride on Monday
Harold Evensky, Tim Kochis and Lou Stanasolovich provide lift during time of hard questions

Tuesday 10.13.09
Les Abromovitz: It is imperative that RIAs routinely dust off the cobwebs on their website.

Outdated RIA websites risk compliance trouble not to mention credibility
Esteem from having a website gets squandered by neglecting its content

Monday 10.12.09
Hardy Callcott was the FPA's feature attraction in drawing brokerage execs to Anaheim

FPA gets fast start in Anaheim with pre-event program for wirehouse execs and other non-members
Two-day program draws well for non-prime time of Friday-Saturday in LA suburb

Saturday 10.10.09
Bruce Bond:

Bond puts mutual fund assets in PowerShares' ETF sights
Barclays, State Street see less urgency for investing actively using passive vehicle

Friday 10.9.09
Daniel B. Seivert: There are 16,000 advisors who will be moving to other channels

Why the time for advisors to buy other advisors is now picture perfect
RIAs are the last buyers standing as sellers get poised to unload thousands of wealth management practices

Thursday 10.8.09
Barney Frank on state regulators: “You have been an improvement on the federal regulators.”

Feds happily punt to states on advisor oversight
Move would take 33% of RIAs off of SEC's plate

Tuesday 10.6.09
Bruce W. Maisel: Embraced the fiduciary standard on behalf of the American Council of Life Iinsurers

SIFMA's Taft makes anti-suitability comments but the fee crowd is wary
Mercer Bullard says that tiger is showing its stripes

Tuesday 10.6.09
Deborah McWhinney: We really don’t have enough teams to serve the market

Citigroup puts RIAs at the center of its strategy to retain banking clients
McWhinney's custody plan for RIAs may reunite her with Charles Goldman

Tuesday 10.6.09
David Tittsworth goes to bat for RIAs today [Tuesday]

Showdown set over whether RIAs stay under regulatory authority of the SEC [Updated!]
SIFMA and FINRA may play for regulatory control

Tuesday 10.6.09
Thomas McGuirk: I didn't like the person I was during those three months

The number one obstacle to completing a clean breakaway from a wirehouse
Leading a double life is not for the faint of heart

Monday 10.5.09
Marc Dreier told 60 Minutes: "The more money you look for, the fewer questions people ask sometimes."

What Bernie Madoff might have been thinking
The most telling excerpts from a 60 Minutes interview with a mega-swindler

Sunday 10.4.09
Steve Disenhof: The service offered by the broker-dealer's team will make or break the relationship

How to choose between the bewildering custody choices
Litman/Gregory took its time and checked all the boxes

Friday 10.2.09

Charles Schwab will speak and his fellow CEOs will listen
Schwab chairman gets short-changed one award, says other recipient

Friday 10.2.09
Lyle Sussman: "I am troubled by the disconnect between the (client's) need and yet the (financial advisor's) lack of training."

Financial advisors cross the CFP's ethical line when they play pychotherapist, study says
Questions are raised about whether advisors have enough training

Thursday 10.1.09


THE Industry Sourcebook for RIAs