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Articles Published February 2010


Les Abromovitz: When the SEC takes a stand on social media, it is likely to reach many of the same conclusions

FINRA guidance may help RIAs avoid social media blunders
Even employees' LinkedIn profiles ought to be supervised

Friday 2.26.10
Joe Duran: Nobody thinks of Cisco as an acquiring company because they have one culture [and by following that example] that's how we end up with an arbitrage

The faces of United Capital on an idyllic spring day on the Berkeley campus
Photographs of United Capital partners and executives at the Haas School of Business event

Friday 2.26.10
Elisse Walter: We’ve been making it too hard on ourselves.

SEC's Walter looks for an easier way out on fiduciary question
Johnson amendment gains primacy as jockeying continues on the Hill

Thursday 2.25.10
Joseph Vietri: Check-up calls on wire transfers will continue indefinitely and more safeguarding steps will be added to the program

Schwab won't stop at wire transfer check-up calls in its quest for airtight security of RIA client assets
Top service exec at big custodian says the tumult of the last 18 months led to the escalation of asset safeguards

Thursday 2.25.10
Joe Duran: Our goal is to [help make] our partner firms into the dominant market leaders in their respective cities and to help build several $5 to $10 million offices in the next few years.

United Capital calls its partner firms to Berkeley to help execute ambitious plan
Haas business school professors will orient consolidator's RIAs toward new ways of looking at growth

Thursday 2.25.10
Jay Quinn will help Barnaby Grist to make Cetera's broker-dealers better for hybrid RIAs

Jay Quinn joins Cetera subsidiary to help Barnaby Grist pave way for more hybrid RIAs
Two ex-Schwab executives unite in Los Angeles to upgrade old ING platform

Wednesday 2.24.10
Steve Walkenbach is heading Scottrade's RIA custody unit but the company is seeking a replacement for Doug Talir

Scottrade is ramping up marketing -- with an interim leader at the helm
The St. Louis-based discount broker has big momentum and a big position to fill

Wednesday 2.24.10
Robert Eisenbeis says the too-big-to-fail legislation is likely to be complex and arcane. "This is the sausage," he says.

A different take on too-big-to-fail
Shadow Committee posits that bankruptcy law may be better after all

Tuesday 2.23.10
Roger Hartley and Keith Mitchell: We are fairly eclectic in terms of the types of businesses we think we can be helpful with.

New M&A firm with Putnam Lovell alumni appears on the wealth management landscape
Mitchell Hartley straddles world of asset management and wealth management

Tuesday 2.23.10
Don Trone: Plan sponsors want advisors who can lead the way.

7 things a financial advisor needs to know to succeed in the 401(k) business
Needy plan sponsors are green pastures for those with the right tools

Tuesday 2.23.10
George Tamer let it be known that technology without a dedicated effort by the financial advisor won't yield great results

The T3 conference hit its stride Friday with key speeches and a hum of activity
An IBM big wig cleared up some issues surrounding 'cloud' computing

Monday 2.22.10
Steve Bartlett: If we can move the needle and get our hundred companies into the automatic transfer [system], it will change the economy of this country in a profound way in a few short years.

Giant push is on in Washington to create a nation of savers
Banks are taking the lead but companies like Fidelity Investments, Raymond James, and Edward Jones plan to jump aboard

Monday 2.22.10
Elaine Lennox of IBM was the main event

Faces of the T3 conference in San Diego
Top IBM-er lets crowd know that cloud computing is a nebulous subject

Saturday 2.20.10
Matt Abar is talking up his vision of the future at the T3 conference

T3 conference sizzles under the hot San Diego sun
RIA event is all about making expensive business decisions

Friday 2.19.10
A peek at our admin system

How we have leveraged Google services to jumpstart RIABiz
Thinking of building a website? We might advise a closer look at the search giant

Friday 2.19.10
Tim Johnson: Proposing a study instead of immediate reform of fiduciary standard

Johnson amendment a stalking horse for FINRA oversight of RIAs?
Advisor groups say legislative language lays ground for shift or regulators; others see it is a 'prudent measure'

Thursday 2.18.10
James Carney: There's little pushback from clients on the idea of fees on held-away assets

Nearly half of advisors now charge clients to manage held-away assets
Shift in billing protocol solves problems for advisors and the clients

Thursday 2.18.10
Bernie Clark: We will be spending a great deal of money

Schwab is a big custodian with plans to step it up in 2010
Bernie Clark will have a juggling act of keeping service top notch and shoring up the hybrid offering

Wednesday 2.17.10
David Hou and Mark Sear  believe cold calls have a place at an RIA.

Hou-Sear team applies Goldman Sachs marketing approach in second year as RIAs
Luminous Capital uses intensive cold-calling and a breakaway strategy to augment giant referral flow

Tuesday 2.16.10
Matt Mathias: Every time there's a merger, clients are disrupted.

Consolidation pushes a veteran of Wachovia, U.S. Trust, National City into the RIA space
Trendspotters see increase in bank breakaways as wealth management divisions consolidate

Tuesday 2.16.10
Ron Rhoades: If investment advice becomes a profession, demand will soar.

Part One: Investment Advisers: Is our path toward, or away, from a true profession?
An argument for taking the high road

Monday 2.15.10
Washington's attention to financial advice is a major step in its evolution

Part Two: The last advice model standing
Five links on the evolutionary chain toward a profession

Monday 2.15.10
Chet Helck: We are still attracting top-tier advisors

Raymond James wins breakaway brokers that are 'pragmatists'
With the get-me-out-of-here mentality mostly gone, a breakaway of a more deliberate stripe steps forward, recruiter says

Saturday 2.13.10
Joel Bruckenstein says it was the final straw when his speech at a big industry conference got bumped into nighttime.

The T3 conference has a rebellious air and the makings of success
Bruckenstein and Drucker channeled their frustration about industry conferences into creating a tech mecca for RIAs

Friday 2.12.10
Fortigent LLC posted this photo for clients as a nod to the snow

Beltway-area advisors are rocked by the snowstorms of the century
Financial advisors are out shoveling like crazy but web connections minimize setbacks

Friday 2.12.10
Jessica Bibliowicz: We acted quickly in a difficult environment. We are now a stronger and more seasoned company.

Bibliowicz's turnaround plan for National Financial Partners includes rolling up RIAs
Publicly traded consolidator sees RIAs deals as a promising avenue of growth and stable earnings

Thursday 2.11.10
Charles Goldman: Because this industry is filled with so many wonderful people, I truly believe that the best is yet to come.

Postscript to the story of Charles Goldman parting ways with Fidelity Investments
Many people are still coming to grips with the quick split of the attractive couple

Thursday 2.11.10
Frederick Van Den Abbeel has made CNBC his ally in recruiting RIAs to his Florida-based custodian

Trade-PMR is elbowing its way into the RIA custody market with cheap software and expensive advertising slots
Florida custodian is opening its doors to career-changers and smaller IBD reps who want to become RIAs

Wednesday 2.10.10
Jessica Bibliowicz is taking big steps to keep her company out of the red

NFP found profitability but shed firms and office space last quarter
Big roll-up is using drastic measures to make ends meet

Wednesday 2.10.10
One predator willing to feast on wirehouse talent that has yet to sign the broker protocol

Broker protocol list grows again and RIABiz is keeping a running count
Firms poise themselves legally to pounce on wirehouse talent

Wednesday 2.10.10
Frank Shull: Our pipeline is very full.

Focus Financial looks more like a consolidator-of-consolidators as its partner firms go on buying sprees
Lara, Shull pulls off five deals to nearly double its assets in a year

Tuesday 2.9.10
Gerri Leder: Where do you find help with social networking? Check the college intern boards.

How to execute a social media strategy: Take a college kid to lunch
All the social media seminars in the world may be no substitute for the kid at Starbucks with the blue hair

Tuesday 2.9.10
Fred Tomczyk: RIAs will continue to get what they need from TD

7 signs that TD Ameritrade's big conference may be a harbinger of bigger things
The #3 custodian is choosing its own path

Monday 2.8.10
Ed Clark told Fred Tomczyk to 'blow Schwab and Fidelity out of the water.'

Ed Clark: TD Ameritrade will not compete with RIAs through its branches
'Absolutely not' he says in response to RIA's quiz about spread of Canadian practices to US

Monday 2.8.10
Kenneth Kaltman bags the Clinton, Bush chairs in lunchtime auction

Distant snows and lunchtime auction keep TD Ameritrade conference buzzing today
Some East Coast attendees rearrange schedules to avoid spending unplanned weekend in Orlando

Friday 2.5.10
Rob Isbitts: Markets go through several little bi-polar episodes before they return to sanity.  Don't fight that, expecting to "get even" quickly

10 penalties that apply to investors as well as to football players
Don't cut your gains and let your losses run

Friday 2.5.10
Barnaby Grist helped develop sales and business development strategies for Schwab

Barnaby Grist is leaving Schwab and Jon Beatty is stepping up
The prominent Schwab executive goes for a new opportunity in Los Angeles

Friday 2.5.10
Tom Bradley: Says TD Ameritrade's conference, long second to Schwab's, now is the industry's  best-attended

Tom Bradley and Fred Tomczyk team up to give forward-looking state-of-the-TD Ameritrade speech
The Omaha-based parent of the RIA custodian is launching a four-year push on technology

Thursday 2.4.10
Patrick Burns: You want your full book protected -- not half your book

An ex-wirehouse broker and a regulatory lawyer divulge breakaway insights at TD Ameritrade conference
Burns recommends to TD breakaway prospects that they resist discussing with clients the reasons they broke away

Thursday 2.4.10
Bernie Clark: Advisors just appreciate us understanding them and this [move] supports that understanding

Why RIAs see Bernie Clark's appointment at Schwab as a positive event
The new head of the RIA unit needs no introduction for most Schwab advisors

Wednesday 2.3.10
Tom Bradley: We were very, very pleased with how we did across our advisory service business, and we’re set up well for 2010

Where TD Ameritrade has come since its 2006 merger and where it is headed in 2010
The Jersey City-based custodian keeps finding ways to grow, improve and land on its feet

Wednesday 2.3.10
Ron Fiske: You don't have to have that discussion with clients about what the right forum is to do business

9 things RIAs need to know about Fidelity's pricing moves on equities and ETFs
The trade commissions grab headlines but ETF cuts are a glimpse of the future

Wednesday 2.3.10
Jim McCool handed over some of his duties to Bernie Clark to sharpen focus

Jim McCool makes Bernie Clark the head of Schwab Advisor Services
Move brings Clark up a notch from sales and unifies a bifurcated structure

Tuesday 2.2.10
Derek Bruton's hybrid RIA platform receives an endorsement from an unlikely source: Morgan Stanley

Top 10 findings of Morgan Stanley report include: Schwab as the best RIA custodian, LPL for highest advisor satisfaction
Wall Street's endorsement of the RIA model is a sign of the times in the industry, analysts note

Tuesday 2.2.10
Les Abromovitz: Regulators are very wary of advertising and marketing efforts aimed at senior investors, including the so-called free-lunch seminars.

SEC’s heightened interest in the older set means advisors should pay heed
Questions of diminished capacity, appropriate investing strategy apply

Tuesday 2.2.10
Stephen Finn is betting on  Maiorano to keep his growth streak alive

Stephen Finn taps Maiorano to take small custodian to the next level
Schwab RIA pioneer plans to make his custodian more mainstream

Monday 2.1.10
Brooke Southall: The Custody Project has grown to do justice to the scope and quality of the material it covers

Asset Custody Project rolls forward
The scope of the RIABiz plan for 2009 recaps and 2010 outlooks of RIA custodians took on a life of its own

Monday 2.1.10

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