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TD Ameritrade
Filed under: Asset Custodian


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Top Executive: Tom Nally
http://www.tdainstitutional.com/
1-800-934-6124
1 Plaza Four A
Jersey City, NJ

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TD Ameritrade
filed under: Asset Custodian


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Patrick Sheppard: Getting back into the retail world and getting back into the high-net worth world was more fulfilling than dealing with institutions on a global basis.

Why a $500-million RIA Rt. 495 start-up hired a no-book ex-BNY Mellon Asset Management CFO

Patrick Sheppard is ready for the hands-on life and New England Investment and Retirement is looking for a steady executive hand
Dan Kern: Some of the audience members wanted to hear less of a love fest from the custodians.

Eavesdropping on the Barron's Top Independent Advisor Summit and appreciating its vibe

There was the usual fertile atmosphere for advisor-on-advisor chats and some impatience with RIA custodial heads' bloviations
Phyllis Borzi: We're troubled by this and employers are having a hard time finding the documents they're looking for.

Phyllis Borzi tightens the noose on 401(k) providers that flout DOL disclosure, not without critics

The idea is to have a de facto big red arrow pointing to key disclosures on revenue sharing but it'll add to the verbiage surplus
Greg Friedman and Neesha Hathi may symbolize how companies like his Junxure and her Schwab are getting close, but not too close.

How big companies stampeded to T3 with big bucks and how it affects the once maverick RIA software show

Broker-dealers, custodians, Salesforce and TAMPs are paid more and played more in Anaheim
Tom Bradley, seen here snapping a selfie at TD's national conference Orlando: I'm incredibly proud of these numbers.

Tom Bradley pollinates TD Ameritrade branches and RIAs get sweet referrals in return

Bradley is teaching retail advisors to spend more time with clients -- and local RIAs
Tom Nally: You've got to build a good team and it's not a one-man show.

What two things Tom Nally says 'no' to in managing his $270-billion RIA empire

The TD Ameritrade chief of RIA custody sees no reason to handle advisor commission business or serve roll-ups geared to hybrids
Christine Gaze developed her practice-management chops at Morgan Stanley Private Bank.

Christine Gaze exits TD Ameritrade

The ex-Morgan Stanley Private Bank exec was brought in to bring practice management and technology together under Zohar Swaine, who has since departed
What looks disorderly at TD has the dead reckoning of dollars following ROI opportunity.

An advertiser's-eye view of TD Ameritrade's national conference

Firms that rarely advertise had booths, including mega-RIAs, competing custodians and Marty Bicknell
Mitt Romney: It's not just America. There needs to be a global understanding and a real global effort.

At TD event Mitt Romney ressurrects his Massachusetts stance on global warming and throws cold water at Obama

The former presidential candidate pushed the reset button on his acerbic tone and now sounds more Al Gore than Bain Capital
Mitt Romney: You are business owners and I love you.

The odd case of Mitt Romney's TD Ameritrade conference keynote and how it turned out for all concerned

The RIA custodian took a risk aligning its brand with the presidential loser but both, arguably, came out as winners
Tom Nally: We want to simplify this for them so they can actually get engaged in retirement and leverage the TD Ameritrade brand name.

TD Ameritrade launches a 'Goldilocks' 401(k) approach aimed at competing with big wolves -- like Fidelity and Schwab

The turnkey RIA service seeks the middle ground between set-and-forget target date funds and the crazy complexity of building a 401(k) practice
A CPA suggested Winterberg 'e-mail me your last few years of tax returns,' which was a deal killer.

What story Bill Winterberg told 500 TD Ameritrade confab attendees that says it all about the new RIA technology and marketing realities

Google failed the Atlanta transplant, Yelp misled him and then YouTube hit the spot in the search for a financial professional
Greg Gable on behalf of Charles Schwab:  Clients who participate in a planning process are more engaged.

Schwab's financial plan production skyrockets in 2013 as part of 'Chuck's' upmarket push

TD and Fidelity hold their fire on playing the planner role as Schwab clients get a full-on planner-executed fee for $2,000 and others are satisfied with more limited plans executed by 1,000 branch advisors for free
Bill Rourke: If we don’t do this, we don’t get the business.

How Ric Edelman's bounty of radio and TV leads pushed his $12-billion RIA from Microsoft to GoldMine to Salentica

The secondary effect was a muscle flexing that brought about a TD integration with Schwab's gritted-teeth blessing
Christopher Holtby: In essence, the client is creating a pension plan for future beneficiaries and advisors retain their advisory role for years to come.

The trusteed IRA: One tested method to maintain assets under management through the generations

A probate attorney, a trust exec and a Harvard B-school student float a solution to persuade family members to stay the course
Chris Romano: We don't even consider trading away at Fidelity because of the high ticket trade away fee.

RIA custodians charge steep new ETF-related fees that can range into the tens of thousands of dollars for big trades and advisors are working to deal with them

Schwab, Fido, TD and Pershing are all in on these 'trade-away' fees and claim they simply are defraying costs of manual labor -- but RIAs aren't so sure
Mike Durbin: I won't be threatened until one of these folks wakes up and decides to be a custodian or a clearing firm. I don't find that to be a near- or medium-term risk.

Part II: RIA custodians' answer to challenges to their monolithic control: We still have big-time scale advantages

Roll-ups and other mezzanine firms are squeezing RIA custody margins as a value proposition but the big-brand custodians -- and some new ones -- are liking the cards they have to play
Lauren Schadle: We need to go back to our roots with a laser-like focus for why FPA was created in the first place -- and that is to support the CFP professional.

Lauren Schadle shows mettle as FPA stakes out turf in skirmish with CFP Board at its national conference in Orlando

Despite a no-show Phyllis Borzi, the FPA Experience was a substance-filled event in which the organization sought to redefine and reclaim its soul
Fred Reish: It doesn't look good.

How the future of the 401(k) industry may hinge on the outcome of a lawsuit brought by Fidelity employees against their own company

The legal case is built on a Fidelity-only funds menu but the Boston 401(k) king intends to show these participating employees got a sweet, fair deal that went beyond DOL mandates
Mike Durbin: We will be working very closely with those active clients with less than $15 million to see how we may be able to help them grow their business.

Fidelity's annual $10,000 custody fee will attach to a wider swath of small RIAs

The dinging of the under-$15-million crowd is painful for initiates but a pleasing prospect for competing custodians ready to welcome defectors
Megan Carpenter: Custodian brands are not like McDonald's or Burger King.

Fidelity and TD Ameritrade show new teeth in RIA advertising -- albeit with giraffes, and children on summer porches

On the heels of Schwab's 'owning it' campaign, Fidelity aims to catch (and repaper) RIAs and TD goes for the soft belly of the industry
Bernie Clark: I couldn't stress enough that if we didn't do well then our competitors would be right behind us.

A sometimes defensive Bernie Clark makes four points pertaining to Schwab's RIA custody business in an update to Wall Street

The overseer of Schwab RIAs explains the San Francisco giant's difficult-to-do-business-with reputation and the long rollout of SII
Jon Patullo: This isn't endorsing the [software] firm.

How TD Ameritrade is playing the logo game to spur 4,000 of its wavering RIAs to adopt its third-party hook-ups

'Veo Integrated' is a clunky name for smooth hand-offs of data from custodian to vendor to RIA -- and back
Downtown Omaha is the fount of the RIA business with its critical mass of competent, cheerful people who can smile and work at an affordable rate.

How Omaha is emerging as the RIA business' center of gravity

With no mountains to block your views or salt air to rust your car, you can get down to business with no distractions and low expenses
Scott MacKillop, Frank Trotter and Alex Potts on the high-risk, 18-hour rim-to-river-to-rim hike

RIA leaders venture to Grand Canyon to get beneath Earth's surface -- and their own

Business bound these execs and advisors on a self-inflicted adventure, but their bonds were tested on a deeper level
Ron Rhoades: Shouldn't the phrase: 'member, FINRA' be viewed like the warnings on cigarette packages -- i.e., as a consumer warning sign?

FINRA's scandalous litany of failures and its efforts to redefine the true fiduciary standard out of existence

Our one-man think tank continues his scathing indictment of the SRO's disingenuous and downright fraudulent practices
Before the lights went out: A consumer panel says what it knows about what it doesn't.

TD throws its first client-best-interest summit, a micro-event, by 'candlelight' in Palm Beach and ideas rise from the RIA deeps

As members of a consumer panel bitch creatively, fed up advisors dig deep for ideas that depend less on DC vicissitudes and more on RIA will and unity
Tom Nally and Fred  Tomczyk put their heads together before the opening session.

TD Ameritrade Institutional Elite Summit boasts big firms, big ideas and a defiance of the weather

A combined $133 billion AUM of advisors -- made up of 133 advisors -- made for rareified, if highly humid air in Palm Beach
Mark Tibergien in Part II: The balance of power has shifted to advisors, regardless of whether they are on a broker-dealer platform or a custody platform.

Part I: Is the era of the monolithic RIA custodian coming to an end?

RIAs, small custodians, co-ops, study groups, roll-ups, TAMPs, compliance shops, OSJ and IBDs are all chipping away at much of what fit under the roofs of Schwab, Fidelity, TD and Pershing
Leonard Palmer allows that not every RBC broker's request to become an RIA under RBC is approved.

What ever became of RBC's RIA custody unit after it showed such promise

Royal Bank of Canada high-ups say RBC Advisor Services still holds importance, but the Cerulli numbers are concerning and some RBC brokers are barred from channel switches
Ed O'Brien: Any of the custodians could probably put together an offering like this ...  but they haven't.

Is Fidelity's move to put RIAs deeper into the cloud gonna make it rain?

'First to market' crows Fido. 'Not even close' counter other custodians. But one expert says the Boston-based firm's one-click platform could change everything
William Steiner: A lot of clients aren't paying attention to this.

How RIAs are helping their clients participate in confusing lawsuits

2008-2009 market meltdown settlements are just now coming to fruition, and giant RIAs are signing up with a filing firm to get in on the action
Skip Schweiss: This bill is the best path we've seen thus far.

An advisor fee bill hits Congress again, this time gaining qualified support from RIA groups

Rep. Maxine Waters' bill, which would require fees from advisors for the SEC, is unlikely to pass, but groups say it will push off FINRA efforts for now
Roger Hewins: What the heck are they doing for clients to earn this?

Industry leaders puzzled by RIAs' being paid by Schwab and Fidelity for investing in funds

Some RIAs see it as an unacceptable conflict, but the custodians are unabashed about the arrangements
Levi McMellian:  These guys had it pounded in their head to never sell UPS and we had to coach them to get more diversified.

Wielding its Texas six-shooter, TD Ameritrade wins a $500-million rep in the Dallas area from LPL

Modeling itself after local juggernaut, Neiman Marcus -- and dissing WalMart of Arkansas, CFO4Life signs on with locally-based Tom Nally
Scott Collins is well known by advisors on B-D and hybrid side of the industry, making him a good catch for TD.

Veteran recruiter effects a reverse breakaway of his own, moving to a more captive, more compensated life at TD Ameritrade

Independence is swell, but the allure of a steady paycheck can be hard to resist -- especially for a father of college-aged kids, a former partner speculates
Jeff Chiappetta: The most common thing advisors use options for is to sell a covered call. A covered call generates income in the immediate term.

TD, Schwab and Pershing RIA units embrace mini-option mania to hedge Google, Apple, ETFs

Options have a gambling aura but some advisors find that the are quite the opposite when used with care
Matthew Tuttle: If I'm trading 100 shares and hold on to them forever, I'll think this is awesome, but for RIAs this is a disaster.

Fidelity quietly imposes an ETF 60-day fee that makes RIAs with trading strategies seethe

Mike Durbin says that Fidelity still has net trading costs on iShares that are pretty unbeatable
Skip Schweiss: Why one exam every five months? I'd still like that question answered.

RIA loyalists slam the SEC for playing into FINRA's darkest characterizations of haplessness

Is the Securities and Exchange Commission asking for more cash to examine RIAs, getting it, then spending it on other priorities?
Tim Welsh: If you're not there people say, Why isn't so and so there? It's the missing persons effect.

Postscript: What exactly should we make of the T3 phenomenon?

True, software vendors themselves may be more enthused than advisors, but the conflagration of information-sharing ventures on RIAs' behalf is no footnote
David Miller: They said, If you leave we'll come with you.

Portfolio Pathway and $3-billion RIA-TAMP deepen an alliance that has Pershing at its core

The Illinois-based performance software maker got going from its founder Pershing's roots -- and now an embrace of Folio Dynamix by the clearing company is opening a new chapter
Ted Bloomberg: $7.4 billion is not the finish line.

The Mutual Fund Store makes big moves: storming Manhattan, going big on Tamarac and quadrupling its disc jockey force

With John Bunch in charge and Warburg Pincus capital in the tank, the $7.4 billion RIA is making an honest effort at creating a national mass-affluent firm
John Hancock is a Boston company that scored in San Diego by recruiting a local legend, Tony Gwynn.

An advertiser's-eye view of TD Ameritrade's cram-packed RIA conference

Throwing a really expensive winter marketing party in San Diego for 3,000 -- or paying your way there -- is a good value
Gordon J. Bernhardt with keynote speaker Condi Rice

Three RIA citizen journalists file dispatches from the TD Ameritrade conference

Our duly deputized scribes -- two RIA presidents and a social media consultant -- fanned out in San Diego last week and reported back from very different perspectives
Michael Kress: It could have been a tragedy

ThinkEquity bankruptcy rattles loose an RIA, born ThinkTactical, of proven talent and a padlocked door

The recruitment of Michael Kress and Tony Cantando gives Jeff Spears' venture a new pasture to graze
Tom Bradley and Tom Nally are still very much at ease sharing a stage.

Tim Welsh grills Tom Nally and Tom Bradley at TD's annual conference

The two Q&As reveal where the president of TD's RIA business is looking for the firm's next $100 billion and that Tom Bradley isn't saying never to rejoining RIAs
Flash mob dance crew 'The Poreotics' take center stage at the 17th annual industry conference.

TD celebrates its $200 billion tipping point with an exuberant, VIP-rich conference in San Diego

Malcolm Gladwell, Pat Benatar and Condi Rice were on hand as TD served notice it's going after the $28 trillion millennials will soon bring to the table
Bill Winterberg seems to have set off a social media ruckus with a timely tweet.

Audience remark at Andy Gluck's session at TD Ameritrade pre-event session sets off a tweet chorus

A college student needed two hours to break into an RIA's files and it took only minutes for Twitterati to pass the story along at TD
Ben Welch: We are bridging that gap.

TD Ameritrade will make iRebal software available free to all its RIA clients

The custodian may disrupt both the RIA technology and RIA custody businesses -- but not inexpensively
W. Patrick Clarke and his son Scott were killed when their Cessna 410C went down on Nov. 10.

A terrible loss in the RIA business of the original breakaway broker

A plane crash takes Patrick Clarke, the founding owner of Orion, Gemini and CLS, who leaves behind a family and friends in grief and three booming companies
Greg Friedman: If I could have waved a wand, I would have had it two years ago.

Greg Friedman is set to finally bring Junxure to the cloud and beat back the Salesforce-ification of the industry

True, the ascension to cloud would have happened sooner in an ideal world, but the world has not passed Junxure by, the RIA and software entrepreneur says
Elisse Walter wants a "harmonized" fiduciary standard and is set to serve as the agency's leader until late in 2013

Obama makes 'really unfortunate' appointment of Elisse Walter as new SEC chairman

The former FINRA, CFTC and SEC exec will replace Mary Schapiro next month as RIA leaders brace for a new round of regulatory battles
Jeff Chiappetta: Several years ago, there was more demand to trade in foreign exchanges.

Schwab gins up trading in foreign currencies but not for RIAs

The San Francisco-based broker now has trading in local currencies at 12 foreign equity markets but advisors cite higher priorities elsewhere
David Hou helped lead the biggest-ever Merrill breakaway and now he's part of a long-term deal with First Republic Bank.

A $5.5 billion LA-based RIA is getting purchased by First Republic Bank

Luminous Capital has gone from a 2008 Merrill Lynch breakaway to a big bank puzzle piece in 2012
Tom Nally: If we just have a small piece of their business, we won't show up on the radar of senior management and internal operations staff will just look at you with resistance as yet another form to fill out or process to re-engineer.

Tom Nally answers 10 questions that show one seminal shift: TD Ameritrade no longer seeks a few assets and extended probation

The RIA custodian built by taking token accounts from Schwab malcontents then scrambling for the rest is now leaving the peashooter at home
Tom Nally: RIAs have seen a 45% asset growth from high net worth investors since 2005, while the wirehouses have only grown 6%.

TD Ameritrade plants its flag in sunny SoCal, playing host to $100 billion worth of RIAs

The Institutional Fall Regional urged innovations as RIAs become the iPhone to the wirehouse's BlackBerry
The FPA packed them in

The FPA throws its annual gathering in a spirit of renewal after years of membership decline

The Financial Planning Association aims to rally around the CFP designation, bring in fresh blood and build membership back up
Abby Salameh: There is an inherent gene that advisors must have in order to take that leap of faith and become independent.

How nature and nurture combine to encourage advisors to independence

You can lead a broker to an entrepreneurial opportunity, but the desire to take the plunge needs to come from deep within and maybe family experience
Matt Judge: Demand reached a head recently.

Not without criticism, TD Ameritrade opens an 'insurance agency' for RIAs that want to provide annuities

Schwab says it will also use more annuities to meet the swelling demand for retirement income but Jefferson National's CEO questions the custodians' focus on traditional annuities
Aaron Rowe of Edelman Financial and and Eric Clarke take the field of the Dallas Cowboys Stadium

Eric Clarke delivers a behind-the-scenes account of his own Gemini & Orion Advisor Forum

The Orion chief was taken aback by overwhelmed advisors but found time for predawn runs, a pep talk from a legendary coach, a tour of the Cowboys' stadium and the launch of 80 apps
Ron Carson: There was a lot more to [acquisitions] than we thought.

Ron Carson launches roll-up/TAMP-like venture with Envestnet, TD Ameritrade and Advizent as puzzle pieces

The biggest of LPL's affiliates shows a walk-before-run approach to inorganic growth
Ron Ferguson revitalized the RIA-owned trust company when he came aboard in 2008.

Ron Ferguson steps down as CEO of National Advisors Trust after 4-1/2 years

The executive proved an adept turnaround artist; now the RIA-owned company is left to search for his replacement
Dean Cook: In the end it came down to Pershing and TD.

TD Ameritrade wins a $2.5-billion RIA custody client on the strength of its delivery of B-to-B capabilities using Orion, Veo and API

FTJ FundChoice took its assets from a bank in the name of efficiencies aimed at big growth
Kevin Kraus: This is the bread and butter of our platform.

Revamping its trading platform, Schwab at long last is poised to catch up with its smaller peers

The giant RIA custodian explains it deliberate pace as a balancing of innovation with the veracity of the existing platform
Jim Dario developed respect for TD Ameritrade over the years as a competitor.

What's up with Jim Dario making the leap from Pershing to TD Ameritrade

The former Fidelity star -- and an almost star in 'Jaws' -- made an intra-Jersey City move but actually never left Boston
Ron Ferguson: We won't lose.

TD, Fidelity and Schwab get green light to custody assets of advisors who use National Advisors Trust

Fido and TD Ameritrade are on board with the RIA-owned custodian and trust company but Schwab is still weighing its options
Ben Welch: This is a big advancement.

TD Ameritrade showcases what API can do with slick Veo-iRebal harmonization

The RIA custodian is creating -- and third parties are applauding -- a time-saving, low-error way to trade and rebalance
Kate Healy: For me it's the culmination of the last 25 years of my career in the industry.

As Paul Zettl follows Tom Bradley to the retail side, Kate Healy becomes marketing chief of TD Ameritrade's RIA business

The former Merrill Lynch product manager will work from Jersey City and face the challenge of selling the not-so-soft landing of becoming an RIA
Eric Clarke and Chip Roame atop Mount Whitney

How RIA industry execs took on the ultimate teamwork challenge: Conquering the highest summit in the lower 48

Training regimens for the group -- including a Green Beret and a Gulf War veteran -- ranged from crossing the Brooklyn Bridge to Google searches for portable bottles of oxygen
When the fog lifts, San Francisco has a case to make.

Why the San Francisco Bay area is almost certainly the capitol of the RIA business

Companies like Schwab, Advent-Black Diamond and Salesforce are based here for starters -- but big wealth managers and lots of open-minded rich people clinch the matter
Steve Hirsch: We didn't want to invest in something that wouldn't be used.

Schwab finally hops on the iPhone app bandwagon -- to the iTune of 30,000 potential RIA employees

The big custodian went live on Thursday morning after a pilot with 15 advisors -- and about 18 months after Fidelity
Chris Cordaro: We have 25 different workflows in our system....If we waited for Schwab to develop best business practices for us we'd be five years behind.

Schwab escalates the RIA custody arms race by releasing more plug-in business practices called workflows

TD Ameritrade, Schwab and others have designs on inserting neural pathways into advisor practices but one expert questions the workability of automated workflows
 Phil Chiricotti: It's a needless requirement that just can't be met.

New DOL rule effectively kills off open-architecture option favored by some big plan participants -- and sets off the 401(k) industry

The wrinkle aimed at self-directed accounts is seen as an unnecessary eleventh hour blindsiding by Fidelity, TD and the CFDD among a broad constituency
Tom Nally: There are less hand offs and what used to take five hours now takes five minutes.

Ten questions for Tom Nally as he gets going filling Tom Bradley's shoes

TD's new RIA chief is drawing a target on the IBD back and he challenges the 'rollups' to better define their value
James Carville lent his big presence and Louisiana accent to a small event with large ambitions.

TD Ameritrade's 2012 Elite Advisor Summit gathers $89 billion of RIA assets under one Laguna Beach umbrella

Fresh off a week of D.C. intensity, the annual event crackled with strong opinions and offensive strategies
Frank Troise: There's exceptional demand. We just don't have enough advisors on the platform.

How one firm is supposedly cracking the lead generation code to the tune of 50,000 advisors supplied -- by, for now, not trying to create referrals

Investor Watchdog, FreeRetirementReport and Vestorly are among the firms seeing growth but are grappling with vetting issues -- of both advisors and clients
Ken Robinson: It's a thinly veiled hostile takeover of independent fiduciary advisors by those who fear them the most.

RIAs flood Capitol Hill with protests against a SRO-FINRA future on the day of the Bachus Bill hearing

Schwab's Clark and TD's Schweiss lead the charge, arriving in D.C. with impassioned advisor missives predicting an 'avalanche of costly regulation'
Timothy Welsh: Campanale and his team were caught somewhat flat-footed when the story broke.

How Frank Campanale's E.F. Hutton resurrection, a TD management hire and upbeat advisors electrified IMCA's annual conference

More than 1,500 advisors came to the Potomac -- including more than a few of Campanale's Smith Barney Consulting alumni
"We don't have to work with aggregators," says Tom Muldowney, pictured here (l-r) with Glenn Kautt and Brent Brodeski, Dick Bennett, Tom Muldowney

Why a pair of Zero Alpha RIAs are combining and out-and-out avoiding roll-ups and private-equity money

Savant Capital and Monitor Group will have a combined $2.7 billion of AUM and hot prospects for gobbling up more firms
Tom Nally: I think RIAs are finding they're bringing in assets more easily than recently.

'Little' TD Ameritrade keeps moving toward being a big custodian

The custody unit continues to roll at a 100 breakaway per quarter pace as Tom Bradley's replacement settles in
Jon Patullo: If they're on the golf course, they can place the trade and have somebody back in the office make the allocation .

TD Ameritrade makes trading on iPads for RIAs available before mobile devices

Jon Patullo encourages RIAs to leave the laptop at home on travels to avoid back pain
Peter Dorsey already knows the ropes at TD Ameritrade and knows plenty about Fidelity's ropes, too.

In his first big move in his new job as TD's RIA chief, Tom Nally picks the replacement for his old one

Peter Dorsey is ex-Fidelity and ex-Bear Stearns but also a real veteran of the TD sales staff
Bill Dwyer gave a high-energy speech predicting 500% asset growth among independents as 401(k)s roll over.

What went down at Barron's Top Independent Advisors Summit in the Arizona desert

Many of the biggest and best RIA stars showed up and put Bernie Clark, Mike Durbin, Tom Nally, Mark Tibergien, Bill Dwyer, Charles Goldman and Barnaby Grist in one room
New York not the center of the RIA world? Fuhgeddaboudit!

Why the slow-evolving metro New York area is still on course to be the capital of the RIA business

The city's sheer wealth and jungle-like powers of regeneration alone mean that it can stomp San Francisco
The FPA put on a humble but eye-opening event in Burlingame, Calif., this week.

A reporter empties his notebook after attending FPA's Business Solutions event

Marty Kurtz lets crowd in on peer review plan, big custodians square off on tech and Eric Clarke yields interesting thoughts in a one-on-one interview
Tim Oden: If this doesn't get you motivated to make calls every morning then you need to check your pulse.

Fed up wirehouse advisors more eager to leave than ever, study says

A whopping three out of four advisors would take a call from an RIA recruiter, the Schwab study shows -- but what then?
Franklin Tsung: It is a messy business and not for the meek.

How AppCrown got a big RIA footprint overnight by handling Salesforce implementations

TD and Fidelity are in with both feet but some are taking a wait-and-see attitude
Joel Bruckenstein (with David Drucker): It is the only time during the year that all of the technology vendors to the industry are gathered in one place.

RIAs flock to Dallas for the T3 technology conference

The seventh annual gathering drew 500 advisors, execs, software vendors and custodians with integrations, mobile apps and clouds on their minds
John Bunch: I felt like I can go out on top and do something different.

A few words with John Bunch as he steps into the CEO spot at The Mutual Fund Store

Getting recruited away from TD Ameritrade was a shock but ultimately one that captured his heart
Derek Holman: We had grown to the point where the business took up most of the day.

Looking for a second growth spurt, a billion-dollar-plus RIA hires away a Nuveen global ops man

Patrick Goshtigian, new president of EP Wealth Advisors has taken over back-office operations from its founders and is also heading up its expansion efforts
John Bunch's decision to join The Mutual Fund Store sets up a major expansion.

John Bunch is hired as the new CEO of The Mutual Fund Store

The TD Ameritrade and Schwab veteran is charged with dotting the country with MFS company outlets as Adam Bold moves over
Tom Bradley: It all came together over the weekend.

Why TD Ameritrade didn't reveal Tom Bradley's new executive position during its national conference

...and other things I learned from talking to the new president of TD retail and his replacement, Tom Nally
Tom Nally finally gets to step up into a role that has been synonymous with Tom Bradley's name.

Tom Nally to take the reins of TD Ameritrade's RIA business from Tom Bradley

Tom Bradley will become president of retail distribution, setting him up as a potential successor to Fred Tomczyk in the CEO role, one expert says
Dick Cheney expressed some gloomy views about the economy and the terrorist situation.

TD Ameritrade brings some Florida heat to the RIA winter

The custodian rolled out a major event sprawled across multiple hotels
Tom Bradley has achieved impressive results by not taking life too seriously.

What Tom Bradley's 25-year reign at TD Ameritrade says about the RIA business

People in this industry can be themselves while prospering and inventing a profession
Tom Bradley: We're not seeing any inroads to our business from these smaller players.

Tom Bradley answers 10 questions about TD Ameritrade's competitive stance in his 25th year

The industry veteran takes time out from TD's Orlando, Fla. conference to talk about about how his RIA custodian can compete with bigger and smaller competitors alike
David Barton: We have to live with the decision for a long time.

The TD Ameritrade-Orion pairing again proves productive -- this time to wrest assets from a $3.6 billion Schwab RIA

As part of a barrage of big moves by Mercer Advisors, Tamarac gets superseded for rebalancing
Andrew Salesky: We're very optimistic with the ability to build this model.

The 10 most influential figures in the RIA business going into 2012

The RIA power elite: Part 1 of 2
Brian Hamburger: I think that number [from BCG] is a very conservative and kind number.

FINRA attacks Boston Consulting Group over SRO study

BCG sticks to its guns saying that the double-dip cost of SEC oversight makes any FINRA numbers moot
Scott Slater says a study by his firm, Schwab, shows that 88% of advisors are looking at an internal succession plan.

3 notable RIA happenings in the past week

CFP Board says it's changing hearts and minds of affluent Americans, studies find more advisors making succession plans and RIAs find clients can't get over their allergy to risk
Neesha Hathi: It would be much simpler to say: Let's make Schwab Advisor Center the center of the universe.

What Neesha Hathi has to say about Schwab's oh-so-slow-but-steady technology initiative

The big custodian is more concerned with error-free melding than quick milestones -- but are competitors pulling ahead while Schwab tinkers?
Scott David: We said: how can we make this happen?

Schwab and T. Rowe Price finally strike a OneSource deal with help from an ex-Fido exec

Scott David has only just arrived at the Baltimore mutual fund giant from Fidelity in May and he's already pulled off a coup that was 20 years in the making
Fred Tomczyk: My main message to [TD Ameritrade Institutional president] Tom Bradley is: keep it up.

TD Ameritrade chief calls RIA growth a significant factor in 44% 4Q surge

Improved technology geared at recruiting more RIAs and offering a greater breadth of products to long-term investors were cited as growth engines
Bob Veres is helping provide the practice management twist to this new conference series.

What Messrs. Bruckenstein, Drucker and Veres cooked up in a Chicago airport hotel

The pilot effort to make a T3-like event with heavy admixtures of wealth management and practice management looked good
Mike Durbin: We want to have the largest clients with the most assets. We're going after the largest teams and getting them.

Mike Durbin is putting his stamp on Fidelity as an RIA custodian for asset-flush breakaways

The leader is working to improve its customer services as the custodian pours big bucks into upgrading its tech offerings
Neal Ringquist: We're doing it from the top down through enterprises and bottom up trying to convince advisors to buy it themselves.

Long a tech innard for Schwab, LPL and TD, Advisor Software is looking to push its own brand with new product

Its new software, goalgamiPro, is able to make sense of multiple housebold balance sheets and come out with a plan
TD Ameritrade Institutional is moving staff into this San Diego building as part of its growth

What's happening at RIABiz this week and why it matters

We've got our eye on TD Ameritrade's growth, do-it-yourself hedge fund analytics and two elite conferences starting Wednesday
Jim Weil: There was no straw that broke the camel's back. There was no dirty secret.

Big Chicago advisory firm exits Raymond James; forms its own RIA with Pershing

After a dozen years with the big broker-dealer, the group saw advantages to using NetX360 and working with Mark Tibergien
Tom Bradley: We consider ourselves the Apple of the industry.

Once good for a few million, TD Ameritrade's foot-in-the-door strategy is starting to net billions

With the paperwork signed, TD goes to work wooing big RIAs with technology, special pricing and a maverick culture
Brian Hamburger, founder of MarketCounsel's Member Summit 2011, expects 200 advisors with between $100 million and $1 billion in assets

MarketCounsel, CFDD, T3 and Schwab vie for advisors to attend their fall conferences

As competition for RIA time and money grows, many events are catering to more defined niches
Frank Noto saw no sun in San Diego as the FPA conference warmed to its task.

An advertiser's-eye view from among the booths of the FPA convention's exhibit hall

Technology companies, Chubb, TD Ameritrade and BrightScope get special notice
David Canter: We hear from advisors at least on a weekly basis that they're looking to upgrade technology.

Fidelity jumps into the game of providing technology for picking RIA technology

Unlike Actifi technology used by TD Ameritrade, the Boston giant's gizmo declines to suggest vendor names
Bernie Clark: We win a disproportionate share of business.

Schwab Advisor Services is nearing $800 billion of RIA assets but analysts are split over whether it can continue to dominate

Fidelity keeps flexing its muscles as Schwab raises its hybrid-friendly profile, reaches out to IBDs and rolls out an ambitious vendor platform
Bill Dwyer: We decided you were right.

What's behind LPL's decision to slash its ticket charges for advisors

The IBD is in a generous mood as it also pays dues to FSI on behalf of thousands
Tim Oden: The amount of due diligence they're conducting is so deep. I just can't imagine they'd go to that trouble to just kick the tires.

Breakaway Movement II is kicking in, say Schwab and Fidelity execs

Spurred by waning wirehouse retention packages, a wave of advisors are poised to jump ship in 2012
Watson is expected to help achieve the company's goal of establishing increased personal contact with advisors

LPL lures a TD Ameritrade talent across the San Diego street

Mike Watson will bring his practice-management expertise to 1,400 LPL reps
Alois Pirker: Firms will have to renew retention bonuses next year or brokers will jump ship.

RIAs and online brokers are winning the market-share game

Wirehouses will have to re-up retention bonuses or see mass migrations of top producers
Griffin Meyers: Although not mandatory, providing a competitive GIPS-compliant track record can also help demonstrate a firm's track record.

How an RIA can capitalize on referral programs offered by Schwab, TD and Fidelity

Success in converting leads favor the firm that makes dedicated hires
David Booth: We work so hard it's a shame to call us passive.

Dimensional Fund Advisors tells RIAs it's getting active in its quest for 401(k) assets

DFA says this new plan will complement, not compete with, the services an advisor offers
Tom Bradley: It’s common practice to give pieces of tech to advisors coming on to a platform.

TD Ameritrade will continue to provide free software to breakaways on an ad hoc basis

Tom Bradley takes exception to how the giveaways are characterized
Fred Tomczyk: [We’re] protective of [our] brand and client experiences. Owning is the right experience for us.

TD Ameritrade and Schwab at odds on franchise model

TD's CEO Fred Tomczyk questions Schwab's approach to greater distribution using independent contractors
Scott Dell'Orfano: Two years ago, advisors were all about calming clients down.

What a slew of recent RIA surveys say about the firms' hunger for growth

Firms are ready to hire and recruit investors but they're aware that pitfalls abound
TD Institutional president Tom Bradley opened the conference with TD president and CEO Fred Tomczyk.

High-earning RIAs gather at TD's Elite Advisor Summit

Many 'first-timers' journey to the Fountainebleau in Miami Beach to glean leadership tips to grow their businesses
Lauren Lindsay had one client whose adult children cost them $800,000.

RIAs grapple with a rising threat to retirement: Adult kids that move back in with mom and dad

Charging rent and creating a chore list are two ways of keeping mooching grown kids from getting too comfortable back in the nest
Bill Belichick's presence helps explain a big jump in attendance this year at Pershing's conference

Pershing, TD, Schwab set to raise the curtain on late-spring conferences

Pershing's event has presidents, prime ministers and Bill Belichick
Tom Bradley: We’d better be getting our act together and find out the issues so we can do a better job.

TD Ameritrade launches an effort to develop women advisors

Schwab and Fidelity do not share the philosophy of specifically targeting female RIAs - and female investors
Deb Wetherby: Form a girls’ group.  Attitude matters – find and hang out with women who inspired you.

Eavesdropping on the NAPFA's pre-conference Women's Initiative

A daylong 'conversation café' emphasized communication, leadership and personal presentation; some guys crashed the party
Rob Major: If you have 200 reports that do everything but cook you breakfast in the morning, you have a system that is unaffordable for 80% of the advisors that are out there.

After tortoise-like beginnings, AssetBook is now on-the-hop in portfolio management software

Rob Major takes what he learned in building Techfi to make AssetBook a functional, no-frills system
Brent Burns: Advisors who take on a fiduciary role have a lot of branding work to do.

NAPFA conference hits hopeful note as members look to the future

Unfazed by venue change, advisors mixed, mingled, blogged and tweeted their way through the three-day meeting
Redtail's Brian McLaughlin: Are we on the same page, and are we ready to go with the ability to open a new account through Redtail?

TD Ameritrade brings software elite to Dallas for an API summit

The number three custodian its letting its technology partners put the final touches on a low-walled garden
TD's Skip Schweiss: “We have advisor demand for it. We started offering it (to a small handful) and doing manual processing to make it work.”

TD Ameritrade beats Schwab to the punch with ETF option for retirement plans

Platform allows advisors to sell mutual fund and ETF capability
Tom Nally: It was a small network of folks and it was referrals; they’ll tell you who their friends are.

TD Ameritrade makes a clean sweep of five IBD reps in New England with about $1 billion of combined AUM

The five big Commonwealth advisors had some knowledge of each other but made their own decisions
Richard Prout: We found TD to be really interested in the growth of our firm, and they put together an economic package that was superior to the Schwab package.

TD Ameritrade uses greater financial incentives to attract custody clients

Breakaways say they appreciate the economic boost and that it makes them feel welcome
Mike McNamara: The numbers were staggering.

How Mike McNamara became a TD Ameritrade RIA and pruned his book in one move

The former Commonwealth advisor also had goals related to succession, compliance and a bigger bottom line
Chatham Wealth Management's Dan Moskowitz: When I started to hear that the TD program was getting a lot better, I said “Let’s see if there’s a way we can make this work.”

Advisor spotlight: TD Ameritrade referrals help turn quiet advisory into a fast-growth operation

Chatham Wealth Management doubles assets in two years
Bernie Clark: Why would you claim the middle ground of being a quasi-employee (at an IBD) with a lesser brand name?

Virtually all big IBD reps covet the independent RIA life, Schwab study says

Schwab's Bernie Clark and TD's Tom Nally see IBD reps undergoing a palpable mood switch, but Fidelity's Mike Durbin and Pershing's Mark Tibergien are unconvinced
Mike Golaszewski: One of the things that brought me 3,000 miles across the country (from Schwab) was that Pershing actually does a really good job of knowing where the puck’s going.

Pershing keeps ahead in the mobile space with an Android app and mobile trading

The adoption rate by advisors is still very small but the big clearing is undeterred
Mercer Bullard: "If the CFP Board, the Financial Planning Association or the Investment Adviser Association finally get their act together, they might want to get involved."

Mississippi lawyer Mercer Bullard volunteers to form an RIA SRO and nobody's laughing it off

IAA won't join forces; annual cost to run an SRO could top $150 million
Jeff Geygan: We have clients that are professional golfers, state senators, movie actors ... a leading scientist in his field.

Milwaukee Wealth Management was born when Jeff Geygan's investing strategy hit the UBS wall

A value devotee, his picks at times conflicted with the wirehouse's research department
In February, Walt Bettinger sketched out two major retail and retirement strategy shifts for Schwab.

Walt Bettinger's big moves drew RIABiz readers in February

TD Ameritrade's sunny conference also made the top 10 in February, along with a retirement-world story that seems a harbinger of a changing market
Bruce Meyer expects to double assets in first year as a Beacon Pointe employee

Beacon Pointe launches advisor-aggregating effort with first deal in Arizona

TD Ameritrade is 'in the foxhole' in this venture and will send many referrals to these advisors
Diane Pearson: We are different genders; we do think differently.

Advisor Spotlight: Diane Pearson is building Legend Financial with sensitivity to women

The difference is not what's said but how it's communicated
Tom Bradley: Let’s not exclude any option out of emotion.

Tom Bradley makes the case for regulatory efficiency -- and maybe, FINRA, especially for the dually registered

TD Ameritrade's chief says it's too soon to reject any idea out-of-hand.
Jeremy Siegel: Short of a collapse in the global economy or hyperinflation people who buy gold today will be disappointed in five years.

Eavesdropping on TD Ameritrade: Jeremy Siegel's investment ideas for 2011, Colin Powell's definition of leadership, plus the key to erasing the budget deficit

What's the new definition of an earmark? A sparrow's belch in a typhoon
Colin Powell mentioned RIAs by name in his speech, showing a familiarity with the business that's has been uncommon among outsiders.

TD Ameritrade's conference gives rise to 9 reasons for optimism about the RIA business

The industry is advancing across a wide swath; one sign is TD's self-assessment
Tom Bradley: Tony Blair was very gracious, and I was gracious back.

Icy runways and Egyptian rebels had an effect, but TD Ameritrade plows ahead in San Diego

Snow adventures and Blair-on-the-phone mix with RIA growth strategies for siphoning wirehouse assets
Eric Clarke: We’ve struggled with the lack of a standard, but with TD we’re taking a step forward.

Third-party vendors vouch for TD Ameritrade's API at first general session

The days of batch downloads may be numbered
Tony Blair was called to the Middle East and will miss TD Ameritrade conference

TD Ameritrade replaces Tony Blair with Colin Powell for 2011 national conference

Events in Egypt precipitate change of speakers
Brian Hamburger: The SEC is lining up the facts so that later the conclusion becomes obvious (it can’t regulate advisors with current resources). ... It’s genius, what they’re looking to do, but it’s incredibly transparent.

The RIABiz list of winners and losers in the wake of the SEC's fiduciary study

The race is on as laggards adapt to new vision of the future
Brian Stimpfl: There's an attraction and a curiosity to a different way of doing business.

Brian Stimpfl resurfaces in an entrepreneurial mode

The TD Ameritrade fixture teams up with Spenser Segal at Actifi; he took a few yoga classes
Chuck Bean: When I was a little fish, I relied heavily on the broker-dealer.

IBD reps are new wave of breakaways to the RIA channel, say some recruiters and custodians

Schwab has a 45% jump in IBD teams in 2010; others see a similar trend
Bernie Clark: Advisors are back.

With a rebound in net flows from its biggest advisors, Schwab finishes 2010 with a flourish

Fidelity Institutional Wealth Services records a $100 billion asset jump
The Top 10 on RIABiz last month included a story about Charles Goldman.

What advisors care about: technology, hiring, Schwab's lawsuit against a broker hit top RIABiz stories this month

A new platform for alternative assets, plus the regulatory moves expected this year also make the list
Nick Georgis: Schwab has had conversations with SEC staff.

Schwab takes high-profile stand opposing self-regulatory organization for advisors

Largest custodian opposes FINRA on heavily lobbied issue
Mark Hurley touched a nerve in 2010 by questioning the enterprise value of RIA practices.

The next 20 top stories and what they say about where the RIA business is headed

Big companies, big innovators, exclusive conferences and the 401(k) market riveted advisor attention
Skip Schweiss: RIAs are at full throttle, increasing spending on staffing, professional development and technology enhancements.

The RIA consensus heading into 2011: hire more and invest in more infrastructure

TD Ameritrade survey shows advisors have big concerns over regulatory changes
Melanie Senter Lubin: Advisors should get their ADV form ready to filed by March 31 and also make sure they know which states they’re going to need to file with.

Wondering whether to register with the states or the SEC? It's a moving target.

New York advisors still left to wonder who has power over them
Bernie Clark: An advisor coming to Schwab with alternative assets to custody needs to be able to provide some transparency.

Schwab leads effort to create industrywide solution for alternative assets

The San Francisco custodial giant is now working to recruit other members to DTCC innovation
The buzz at the TD Ameritrade booth was that Tony Blair, Britain's former prime minister, is schedule to speak at TD's annual conference to be held in San Diego.

Eavesdropping on the Women Advisors Forum: Rainmakers share their secrets. Hint: They revolve around finding a niche

Women at the top of the profession have learned to give each other the look: "Like ‘I’ve got your back, sister.’”
Skip Schweiss: We think it’s time to ramp it up.

TD Ameritrade and Pershing are making moves to win RIA 401(k) assets

Little-known Matrix is strong with 401(k) business for advisors and Fidelity's new 401(k) RIA solution is well-received
Matt Judge: We want increased share of wallet.

Relentless TD Ameritrade antes up a killer ETF platform

The number three custodian of RIA assets is finding ways to lead
Fred Tomczyk: Whenever there’s uncertainty, it breeds opportunity. That’s where I think the next wave is.

Fred Tomczyk: Upcoming regulatory uncertainty could spark 'next wave' of wirehouse breakaways

Wirehouses may buy and sell parts to protect their golden egg-laying investment banking franchises
Matthew Judge: Breakaway brokers don't want to explain to brokers why they can't have the same separate account managers.

TD Ameritrade paves the way for breakaway books of business to transfer intact

PlaceMark deal modifies unified managed account platform so advisors can plug in their former wrap managers
Mike Durbin: WealthCentral eliminates a major difficulty in breaking away

Fidelity wins converts to WealthCentral, but most of its advisors have yet to make the switch

The giant technology project is behind Fidelity's schedule but ahead of one analyst's expectations
Ben Welch: iRebal’s client base, currently at 67 firms, has doubled in the last two year. It has also experienced a five-fold increase in developers to five full-timers

Tech Review: iRebal thrives after TD Ameritrade acquisition

The trailblazing rebalancer is tweaking its business model but staying focused on big RIAs
Jon Patullo: No other custodian actually engaged [these vendors] in this fashion and set up a summit, so they're very excited about it.

Joining the industry-wide trend, TD Ameritrade announces its upcoming project for "open architecture" technology integration

Custodian hopes to open the platform to all vendors that pass a security check
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?
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
Joel Bruckenstein: iRebal is still better technology but Tamarac is 'infinitely better' than it was two years ago.

Tamarac claims what was unthinkable two years ago -- that it is on the same playing field as iRebal for rebalancing software

Tamarac has made leaps, say iRebal loyalists, but it had a long way to go
Catherine Ayers-Rigsby: When someone wants to use a new product, we don’t shy away from it. We research it and say: ‘Let’s go forward.’

Ceros Financial hangs a welcome sign out for RIAs who trade actively

The former Rydex RIA unit is starting new life under German ownership
Julie Sunwoo: Advisors tell us that maximizing productivity and efficiency to enable growth is one of their top business priorities

Schwab launches 'university' for advisory personnel

The San Francisco-based custodian is taking a self-service approach to a crying need for training employees of RIA firms
Condoleezza Rice: The U.S. has no heir apparent as the leader of the global economy despite rumblings.

Condoleezza Rice wins the hearts of attendees at the TD Ameritrade Elite Advisor Summit

She still prefers Fox News but she also sounded a more moderate tone when questioned about the 'present administration'
David DeVoe: The numbers have slowly crept up in terms of advisors that have these plans in place but we still see situations where folks don’t.

Favorite succession plan of RIAs remains the same: none at all

The biggest impediment to planning is finding a successor
Tom Nally: I think joiners are going to take the breakaway trend to the next level.

9 things to know about the breakaway-to-RIA movement and why it's likely to get bigger

In a down market, RIAs need a new growth strategy and small brokers a safe landing place
Paul Zettl: We target around 100 advisors because we want to keep it intimate and allow advisors to ask questions and network.

TD Ameritrade is pulling out the stops for 100 advisors in Laguna Beach

Smaller custodian is starting to make a habit of 'going big'
Jon Patullo: [Advisors] were stoked that Veo was available on a Mac.

TD Ameritrade's technology, Veo, wins high praise from advisors so RIABiz took a look

Veo got a head start and has unique third party tools
Barron's Top 100 advisors paid for their own Ritz-Carlton rooms but didn't seem to mind

Enthusiasm simmers in the wake of the by-invite-only Barron's Top 100 conference

The purity of the all-independent crowd was palpable, powerful for attendees
Bernie Clark: Our competitors are still treating this [custody of alternative assets] as an accommodation.

After a wait, Schwab has a program for alternative assets

The giant custodian will hold many of the assets itself
Fred Tomczyk told Reuters: E*Trade 'is on a better footing today than they were a year or two ago, no question.

Analysts issue opinions on Merrill Lynch and TD Ameritrade based on new information

Merrill Lynch or another wirehouse, not a discount broker, should acquire E*Trade, researcher says
Matthew McGinness: It would not be surprising to see the toll go up.

TD Ameritrade's raised its NTF fee to mutual funds and analysts believe rivals may hike theirs, too

Schwab and Fidelity have ample leverage with mutual funds to raise their toll, analysts say
Scott Dell'Orfano: The average is well up from what we saw at this time last year

Breakaway broker signings get off to hot start in 2010 for Fidelity, TD and Schwab

RIA custodians report big increases in both size and number of recruits from wirehouses
Brian Stimpfl: It was the hardest decision of my career.

[Updated] Why Brian Stimpfl left TD Ameritrade and where he is headed

A right-hand man to Tom Bradley takes a mid-career leap
Mike Watson: A lot of advisors went into hibernation the last couple of years.

M&A market for RIAs sprints to record start in 2010

Deals are mostly smaller thus far but activity behind the scenes is intense
Readership on RIABiz has been surprisingly international

What do RIAs care about?

A breadcrumb path through RIABiz into the mind of financial services entrepreneurs
Mike Durbin: Fidelity's investment management heritage and capital markets resources are unique qualities among custodians

Fidelity plows ahead in the RIA business with overhauls of service, technology and management

Stagnant for more than a decade, the Boston-based RIA custodian has become a cauldron of dynamic change in last few years
Bob Adams: Advisors can rest assured that we will meet the needs they have. We're acting in their best interests.

Fidelity delivers a white paper and a warning to RIAs regarding new cost-basis rules

Multi-custody arrangements and third party platforms can lead to troublesome data fragmentation, the Boston custody giant says
Custodians are aggressively hiring good talent to keep up with RIA demand. Schwab's hire of Nick Georgis was a good example of that.

Part II: The things 11 through 20 that show the RIA market is really heating up in 2010

Everything from New York Times recognition to accelerating executive hires suggest the RIA realm is getting hot
Christopher Dean, managing director of Summit Partners in Boston, invested VC money in RIAs

10 things that show the RIA movement is really heating up in 2010: Part I

Observers need a scorecard to keep track of all the advances that RIAs are making
James Poer: NFP Securities has undergone a vast evolution and now aims to serve a broader market.

With Schwab [and maybe Fidelity] as custody partners, NFP is positioned to make a run at the hybrid market

If NFP IndeSuite catches on, the success could make up for some struggles on the roll-up side of the business
Charles Huebner: You can see it in their eyes. They say: You can tell what it is like to take the risk.

Two senior UBS brokers pass on retirement to pursue aggressive breakaway plan

Huebner and Jagger are winding up, not down with multi-faceted growth strategy
Mark Tibergien: We are managing risk. That is what B-to-B firms do.

Pershing is working to create a better alternative assets experience

The Jersey City RIA custodian believes a defined list of criteria gives it an edge
Mark Tibergien: We were so impressed with Schwab's service that we hired 14 of their people in the past two years.

Mark Tibergien is making Pershing an industrial strength custodian with an RIA service touch

The feisty CEO of Pershing's RIA unit believes his offering will speak to big RIAs
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
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
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
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
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
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
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
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
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
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
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
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
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
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
Charles Goldman still embodies a service ethic for many advisors

Advisors can tolerate Goldman departure from Fidelity if service doesn't suffer

Fidelity says to expect no change in service approach because of executive changes
Barnaby Grist says that wirehouse data on attrition is accurate but not telling for breakaways

Schwab and TD Ameritrade pipelines brim with breakaway prospects

Growth rate accelerates despite slowing attrition at wirehouses
Derek Bruton is now in charge of LPL's hybrid business after years of RIA experience with Merrill Lynch, TD Ameritrade and Schwab

LPL's hybrid RIA platform is fast off the mark and names new leaders for 2010

The giant IBD has already surpassed Raymond James' RIA assets but Derek Bruton plans to build on momentum
Paul Zettl: Conference registrations are running at double last year's rate

TD Ameritrade revs up to have the biggest three-day RIA rally in its history

Early attendance figures and a full agenda bode well for the rising custodian's 2010 National Conference
Bernie Clark: We’ll continue to build the connectivity that will make it better

A giant is awakening in the hybrid RIA market

Schwab vows to spend big in 2010 and 2011 on better connections to IBDs
Peter Mangan: [RIAs] like that we’re a boutique operation

A small RIA custodian in San Diego faces a new challenge: accelerating growth [updated]

Peter Mangan is creating a company that resembles the old Jack White more every day
Dan Skiles: It doesn’t matter from a passion standpoint whether the RIA has $50 million or $2 million

How Schwab's top tech executive for RIAs ended up with a fledgling competitor

Dan Skiles makes conscious decision to stop his 'Up in the Air' life and discovers the joys of being an entrepreneur
Walt Bettinger: After the past two years, our clients are thinking more than ever about their financial future

Morgan Stanley report: TD Ameritrade and other rivals may face pricing dilemma after Schwab price chop

San Francisco broker can cut commissions with relative impunity now that it has shifted primarily to fees
Terry Reitan: Inefficiencies can be hidden when times are good, but when markets are down, the efficiency our technology provides becomes invaluable.

How a small RIA custodian is making big waves

Trust Company of America invested heavily in technology to make RIAs efficient with an array of advisory representatives
Expect to hear more in 2010 from Mike Durbin, who leads Fidelity's fast-growing RIA custody unit

Percolating: RIA custody roundup for 2010

New faces, new programs, new technology and new assets
Brooke Southall: I asked John, 50, why he didn’t hire a financial advisor and he said that the system was “crooked” and “corrupt.”

What I learned about E*TRADE, Bank of America, Google and the Bubble Lounge during pre-holiday conversations

Just because a wirehouse broker doesn't win the account doesn't mean that another advisor will
Tom Bradley: The success of this program is the result of a powerful structure of goal-setting, follow-up and follow-through.

TD Ameritrade takes on Schwab with big consulting push

Smaller custodian will seek to democratize consulting advice on behalf of smaller advisors
John Furey: Top advisors only engage professionals referred within their networks

Deal killers for almost-breakaway brokers

How to break the dam of 60,000 wirehouse employees
Jim Warren: I promised Art [Tambaro] I would seek out reasons to stay as opposed to reasons for leaving

Why a Royal Alliance champion gave up the cause after AIG made changes

Jim Warren made personal pleas to Art Tambaro but a small IBD nabbed his RIA
Like Tom Turkey, many RIAs were thankful to survive 2009

Taking A Break From the Turkey?

RIABiz's top 10 stories from the past month offer a window into what RIAs care about
Charles Goldman: Service and knowledge of clients’ accounts is not the place to skim.

Goldman aims to make red carpet service for RIAs universal at Fidelity Investments

Boston investing giant is showering tip-top clients in service but it won't stop there, advisor exec says
Jim Scanlon: I was not a big producer so [my boss] could say: I need you to be in this meeting.

How TD Ameritrade wins clients $47 million at a time

UBS brokers double take-home pay with breakaway
Eliza De Pardo: “The data is a starting point but it’s not the end game.”

Will the real Moss Adams please stand up?

Two companies with ties to the Seattle-based consulting firm seek to fill a void
Dan Inveen: “It’s almost laughable now that the employer was worried about the scarcity of labor and the scarcity of talent”

10 key points made in new FA Insight personnel study

Report: Smart firms grab talent while it's available
With Doug Talir gone, Scottrade is already seeking a new leader for its custody unit

Doug Talir, director and founder of Scottrade's RIA custody business, departs

Scottrade is seeking to fill position
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'
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
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
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
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
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
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
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
Schwab IMPACT: Advisors come for its punch

The 10 top things to know on the eve of Schwab IMPACT 2009

A fragmented industry gets under one tent
Doug Talir: Ameritrade went upscale

Scottrade rakes in small RIAs

Discount retailer turns its sights on advisors
Say good-by to this website

Schwab technology undergoes metamorphosis

Beta tester still has wish list for Schwab upgrades
Barnaby Grist: It's the same growth rate as the last few years

Footnote to last week's breakaway article and a look ahead to Monday's article

Breakaways: Growth rate stuck in place
Schwab, TD disclose magnetic effects

With big assist from RIAs, Schwab is still a net new asset magnet

Wirehouses keep net flow numbers to themselves

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