RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

Articles published 7/2010


Headline

Publish date


Jon Patullo: No other custodian actually engaged [these vendors] in this fashion and set up a summit, so they're very excited about it.
July 30, 2010 at 6:30 AM

Manish Dave: It's not enough to have technology and a payout. Ameriprise wants to be a strategic partner.

In a move that risks a backlash from within, Ameriprise opens the door wide for bigger wirehouse brokers

Training advisors has become more expensive, says analyst -- so the company has a new strategy to recruit experience advisors

July 30, 2010 at 2:46 AM

Joe Perry: The way  JHS presented its ethical guidelines helped win his business.

A decade of baby steps led a broker from Merrill Lynch to a three-office hybrid of his own

Potomac Investments now uses broker JHS, where an ethics policy carried the day

July 29, 2010 at 3:49 AM

Scott Dell'Orfano: Bigger teams are more educated, thoughtful, diligent. They’re asking pertinent questions.

Fidelity weighs in with breakaway results reinforcing the big-advisor trend

Are cost-cutting wirehouses creating a farm system for top entrepreneurial teams?

July 29, 2010 at 3:47 AM

Bill Crager: There's real business happening in the RIA market.

[Updated] 10 reasons why the Envestnet IPO filing is for real

The platform giant has a monopolistic position and the opportunity to pull away

July 29, 2010 at 2:22 AM

Taking on the naysayers, Bob Veres explains why he sees a rosy future for RIAs.

Bob Veres' vision: Scalable, multi-partner RIA firms will be profitable and powerful enough to beat the wirehouses

Microbusinesses dominate the industry -- for now. That may change as the industry evolves along the lines of the legal profession.

July 28, 2010 at 3:17 AM

Daniel Barry: As a former securities industry association lawyer, I have a more balanced view.

Daniel Barry takes on two big challenges: fighting for financial advisors and filling the size 15E shoes of Duane Thompson

Barry says he'll fight hard for financial planners and RIAs, but half of FPA's members hold a Series 7

July 28, 2010 at 3:12 AM

Ron Rhoades: Many RIAs rightly question the utility of limited inspections by regulators.
July 27, 2010 at 1:57 AM

William Webster: I’ve seen a lot of wirehouses lose their significance

Smith Barney broker leaves wirehouse realm after 38 years

Recruiter: an increasing number of older advisors are leaving wirehouses to be sure their books of business go to someone they trust

July 27, 2010 at 1:52 AM

Kristina Fausti: We've entered a new regulatory era that calls for greater transparency and accountability.

How financial reform gives the SEC new bite; plus at least five other things advisors ought to know about the legislation

The new financial world will be constructed mostly out of the public eye, as regulators begin studying 150 issues Congress punted to agencies

July 26, 2010 at 3:36 AM

David DeVoe: Of the deals completed so far this year, 55% were for $250 million or less.

M&A market for RIAs continues record pace: Second half looks even stronger

As compliance burdens grow, smaller firms are driving merger activity

July 26, 2010 at 3:33 AM

Brett Sharkey: Quite honestly, I was not interested in the idea at first. Look! We have done it; we are out [of Smith Barney]. That taste of freedom is sweet.

HighTower wins its first-ever existing RIA after offering the breakaway a new way to do business -- and a chat with David Pottruck

Three Bridge Wealth Advisors surpised itself by giving up its 'sweet' freedom to regain the advantages of scale

July 23, 2010 at 3:54 AM

Alan Olsen: The DOJ has plenty of leads developed from last year's amnesty program, and from the agency's pursuit of banks.

The next step in the IRS pursuit of high-net-worth individuals

The DOJ steps up the hunt for offshore accounts. Here's what not to try: spiriting the cash out in a suitcase.

July 23, 2010 at 3:53 AM

Bernie Clark: The average assets of new teams that custody with Schwab has doubled compared to 2009.

Both Schwab and TD Ameritrade smash breakaway recruiting marks from last year

Schwab nets eight breakaway teams with more than $250 million of AUM each

July 22, 2010 at 3:57 AM

Jim Sotell: Fees that were hidden are coming to the surface. That will put RIAs on a more level playing field with brokers in the retirement plan business.

How the new 12b(1) fee restrictions could transform the financial advisory industry

Brokers selling 401(k) plans may have another nail driven into their coffin

July 22, 2010 at 3:56 AM

Ron Shevlin: The message is: Get more aggressive about marketing in general.

9 things to know about the 'truth' concerning RIA use of social media

Results of a new Pershing-Aite study show advisors really are using social media -- and making more money by doing so

July 21, 2010 at 2:53 AM

Pat Allen: From the bottom up and from the top down, wirehouses and broker-dealers are working toward enabling advisors to participate online.

What three highly wired financial advisors have to teach us about social media

Blogs may be the most influential -- and most forgotten -- form of social media

July 21, 2010 at 2:51 AM

U.S. Rep. George Miller is one of a number of Washington, D.C.-dwellers paying more attention to hidden fees in 401(k) plans.

One down, two to go: Trio of important DOL regs reshapes 401(k) advice business

Plan fiduciaries may face an easier world -- if their disclosures don't come back to bite them

July 20, 2010 at 3:44 AM

Eugene Steuerle explains why it's often better to spend your 401(k) for a year or two before delving into Social Security
July 20, 2010 at 3:43 AM

Joining the Broker Protocol is free, which shows that summer weather can slow any kind of business activity

The steady Broker Protocol drumbeat slows a bit in July

KC Asset Management Inc., O'Dell Jarvis Mandell LLC, Scenic Wealth Management LLC are among the new to the list

July 20, 2010 at 3:19 AM

Kevin Tanner: We average $500,000 a day [of new assets], and the rate has been rising.

Suddenly noticed by big investors, Kevin Tanner's small RIA is bracing for billions of AUM

A retired retail client who serves on boards got Saratoga Research & Investment Management in the institutional door, and the assets are starting to pour in

July 19, 2010 at 12:47 AM

Ron Rhoades: Potential clients rightfully adhere to the old adage, "Where there's smoke, there's fire."

One-Man Think Tank: Six steps to avoid getting sued and having your reputation destroyed in the bargain

Beware prospects who bad-mouth their old advisor; fire clients who don't stick to the strategy

July 19, 2010 at 12:22 AM

Tom McGuirk: "It was this intense feeling of euphoria and also a moment of whoa! I am really a business owner now."

How an Olympic hurdler and Smith Barney broker made the leap to his own RIA

Goal oriented: Tom McGuirk put his breakaway date on the wall in the place where his running time used to be

July 16, 2010 at 3:27 AM

The Committee for the Fiduciary Standard recalls Goldman Sach's Lloyd Blankfein's stammering testimony with a new video cut to make a specific point.

Goldman Sachs settles to make its scandal die, and Congress passes financial services reform. What does it mean for RIAs? Not much, yet.

In an attempt to sway new regulations on the fiduciary standard, an advocacy group releases a video of Goldman Sachs execs' worst moments before a Senate committee

July 16, 2010 at 3:27 AM

George Keith: People know it’s tough out there so productivity has skyrocketed. Before, people were in at 9:30 and out at 4:30.

RIAs are rushing to take advantage of a fire sale on talent

Putting great people and the RIA business model together holds tremendous promise, analysts say

July 15, 2010 at 7:02 AM

Richard Stein tells the Times: Everyone thought the ice age had returned, but the thaw has come and we’re in catch-up mode.

The six key points about Wall Street's surprising employment picture

Hiring is on the rise and the picture is far better than most white-collar sectors, according to article

July 15, 2010 at 6:55 AM

Les Abromovitz: Back when I went to law school, attorneys didn’t advertise on television, let alone on urinals.

How far can RIAs go with advertisements?

Don't take your cues from restaurants or lawyers

July 15, 2010 at 6:54 AM

Ron Rhoades: It is time for FINRA to be dismantled.

One-Man Think Tank: Six reasons that FINRA should be dismantled

Insuperable issue: Each FINRA firm has an equity interest in FINRA - and would be entitled to a slice of its billion-dollar war chest

July 14, 2010 at 5:10 AM

Harold Evensky: Although [shunning FINRA] may provide a temporary visceral high, it is counterproductive and unprofessional and will result in our voices being ignored

Why Harold Evensky believes that a FINRA-as-devil attitude is counterproductive

The fiduciary standard-bearer is optimistic that FINRA can make fiduciary standards work in the 'real world'

July 14, 2010 at 5:10 AM

Kevin Tanner and John Dolan sip champagne after signing a long-term deal.

Two Silicon Valley RIAs marry their practices to lay the groundwork for succession

The merger key was that Kevin Tanner wanted John Dolan and not just his book of business

July 13, 2010 at 6:55 AM

Vic Gundotra was the master of Googling ceremonies at the event of 5,000 geeks

What RIAs should know about my three days at Google's I/O conference

Less reliance on web connections and cheaper leapfroggings in software-as-a-service are on the way

July 13, 2010 at 6:54 AM

Matt Stroh: Our clients tended to think our service reputation was the best of all the vendors they were working with, and they began relying on us more and more.

A close look at Tamarac's Advisor 9 and its strategic use of Schwab software

The Seattle company is trying to create a sense of familiarity for users with Outlook and PortfolioCenter features

July 12, 2010 at 5:53 AM

Bernie Clark sees advisors building better businesses now that there isn't a bull market to make almost automatic.

Schwab's Bernie Clark on why RIAs are figuring out how to grow ... and other items from the RIABiz cutting room floor

What was left out of RIABiz's Amerprise story, and why; plus, advisory industry intelligence from our readership stats

July 12, 2010 at 5:14 AM

Joel Bruckenstein: iRebal is still better technology but Tamarac is 'infinitely better' than it was two years ago.
July 9, 2010 at 6:26 AM

Dorie Rosenband: I invested $150,000 and still haven’t taken a salary, so this was a significant financial event for my family, but so worthwhile!

Dorie Rosenband's post-maternity return to Smith Barney shocked her into becoming a RIA

Seeking to build a practice serving women-in-transition, she hopes to attract other women advisors, too

July 9, 2010 at 6:25 AM

Scott Pritchard: As much as I’d like to say that Fidelity has lost their edge, I think this is just a reflection of the fact that a small percentage of plan sponsors have begun to recognize the value of working with independent RIAs.

What the confidential documents uncovered by Reuters say about Fidelity's future in the 401(k) business

A rare glimpse at the 401(k) giant's client tally shows slippage among big customers but its 401(k) business may be finding increased traction with advisors

July 8, 2010 at 6:58 AM

Alan Pfeffer: Not only have there been no findings; there have been no allegations.

As DOL investigation continues, Geller Group says it is executing the final stage of a four-year succession plan

Sheldon Geller and Manny Ehrlich have been grooming Alan Pfeffer to take over the 401(k) company since selling a big stake to Focus Financial in 2006, according to the firm's new leader.

July 8, 2010 at 6:56 AM

Scott Slater: I see it as the next step in the maturing of the RIA industry.

How the market downturn affected 870 Schwab RIAs in 2009 and how they are reacting to it in 2010

Profits took a tumble in the market downturn but resolve to grow is on the rise, according to a massive new survey

July 7, 2010 at 5:45 AM

Meg Green: Not all the bodies were really profitable in my model.

What Meg Green was thinking when she purposefully shed $40 million of assets

The advisor saw more downside than upside to the smaller accounts and pulled the trigger on a deal

July 7, 2010 at 5:36 AM

H.A. McGill didn't have Ameriprise on his radar until friends told him the give it a look.

How Ameriprise used its franchise system to snare a Smith Barney breakaway

H.A. McGill found that the Minneapolis broker-dealer was friendly to tuck-in deals

July 6, 2010 at 5:26 AM

Frank Pizzichillo: LLCs are king 'but there are situations in which an S-Corp may be appropriate and, much less often, where a C-Corp may be the way to go.'

The Leading Indicator: Do not forget corporate concerns in the transition to independence

The quick-hit S-Corp.-versus-LLC rundown for breakaway brokers

July 6, 2010 at 5:11 AM

Gene Steuerle: The option of adding to your Social Security annuity is there, but hidden by overlapping and confusing provisions.
July 2, 2010 at 5:01 AM

RIAs continue to rise above the landscape and capture notice from across constituencies

What happened in June shows that RIA fortunes stayed on the rise

The giant legislative victory was a landmark for RIAs but much more happened as Spring turned to Summer

July 2, 2010 at 4:58 AM

Broker Protocol: Any firm can join the protocol by contacting SIFMA.
July 2, 2010 at 4:57 AM

Susan Theder: The opportunity was exciting and unique enough to make me think that it wouldn’t come around again – not with a management team and board of directors this strong and an entrepreneurial environment this enticing.

Cetera lifts a high-end talent out of Pershing but can the IBD establish itself as a brand presence among advisors?

Susan Theder left a big job and she is moving cross-country; she'll try to make 'Cetera' stand for more than the old ING Advisor Network in a new wrapper, analyst says

July 1, 2010 at 5:28 AM

Mike Byrnes: Plan now. The resulting greater success will be compounded over time.

What if you spent one hour a day on the #1 idea to free up time and cash flow?

10 people in the RIA business offer their best thought for making the second half of 2010 more productive

July 1, 2010 at 5:28 AM

RIABiz Archives

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo