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BREAKAWAY STORIES

There are about $5 trillion of assets parked in traditional stock brokerage firms, but they're not likely to stay there. Every month, clients move some of their money to independent firms with fewer conflicts of interest. Brokers who want more control are moving their books of business, too.

In these Breakaway Stories, you'll find instructive, encouraging and sometimes funny stories about these breakaway brokers and their clients. The information in the stories is accurate as of the date of publication. We hope these tales are useful for breakaway prospects and for people interested in luring wirehouse talent to their firms.

HighTower blindsides its own Palm Desert team with pink slips leaving pregnant questions in the arid air

The Chicago roll-up cites improprieties by its partner-employees but recruiters find the timing interesting as the team was actively seeking an exit

Friday 7.15.16 by Brooke Southall

HighTower blindsides its own Palm Desert team with pink slips leaving pregnant questions in the arid

The Chicago roll-up cites improprieties by its partner-employees but recruiters find the timing interesting as the team was actively seeking an exit

Friday 7.15.16 by Brooke Southall

HighTower blindsides its own Palm Desert team with pink slips leaving pregnant questions in the arid

The Chicago roll-up cites improprieties by its partner-employees but recruiters find the timing interesting as the team was actively seeking an exit

Friday 7.15.16 by Brooke Southall
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How my career path to become an RIA included pay phones, American Express, the pressure of being a physician's son and facing down robbers as a bank teller

It wasn't until I started flipping through industry journals at the bank that I discovered the CFP designation, read some practice profiles, and zeroed in on the field

Tuesday 7.5.16 by Guest Columnist Scott Oeth

How my career path to become an RIA included pay phones, American Express, the pressure of being a p

It wasn't until I started flipping through industry journals at the bank that I discovered the CFP designation, read some practice profiles, and zeroed in on the field

Tuesday 7.5.16 by Guest Columnist Scott Oeth

How my career path to become an RIA included pay phones, American Express, the pressure of being a p

It wasn't until I started flipping through industry journals at the bank that I discovered the CFP designation, read some practice profiles, and zeroed in on the field

Tuesday 7.5.16 by Guest Columnist Scott Oeth
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Lorenzo Esparza leaves JP Morgan in LA to start Manhattan West with tutelage from Schwab

Honoring his immigrant parents' wish, he toiled for 10 years as a lawyer at Paramount before staking out ground in a market with few Hispanics

Tuesday 6.14.16 by Sanders Wommack

Lorenzo Esparza leaves JP Morgan in LA to start Manhattan West with tutelage from Schwab

Honoring his immigrant parents' wish, he toiled for 10 years as a lawyer at Paramount before staking out ground in a market with few Hispanics

Tuesday 6.14.16 by Sanders Wommack

Lorenzo Esparza leaves JP Morgan in LA to start Manhattan West with tutelage from Schwab

Honoring his immigrant parents' wish, he toiled for 10 years as a lawyer at Paramount before staking out ground in a market with few Hispanics

Tuesday 6.14.16 by Sanders Wommack
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0 Comments  

After chats with Phyllis Borzi, a flagship HighTower team executes a 'deliberate' breakaway to form a $2.5-billion RIA

Citing post-DOL-rule concerns about serving their super-rich clientle and hungering for more alternative alternatives, Paul Pagnato and David Karp have ankled the captive brokerage world but are keeping ties to the Chicago roll-up

Wednesday 6.1.16 by Sanders Wommack

After chats with Phyllis Borzi, a flagship HighTower team executes a 'deliberate' breakaway

Citing post-DOL-rule concerns about serving their super-rich clientle and hungering for more alternative alternatives, Paul Pagnato and David Karp have ankled the captive brokerage world but are keeping ties to the Chicago roll-up

Wednesday 6.1.16 by Sanders Wommack

After chats with Phyllis Borzi, a flagship HighTower team executes a 'deliberate' breakaway

Citing post-DOL-rule concerns about serving their super-rich clientle and hungering for more alternative alternatives, Paul Pagnato and David Karp have ankled the captive brokerage world but are keeping ties to the Chicago roll-up

Wednesday 6.1.16 by Sanders Wommack
3 Comments  
3 Comments  

How my mother-in-law steered my career from Olympic swimming in New Zealand to fee-based advising in the US

I was a 1988 bronze medalist -- a first for a Kiwi male -- taught swimming, sold Speedos, but wanted to help others avoid the fate of my badly advised parents -- a path that took me to the World Trade Center as a Morgan Stanley trainee in 2001

How my mother-in-law steered my career from Olympic swimming in New Zealand to fee-based advising in

I was a 1988 bronze medalist -- a first for a Kiwi male -- taught swimming, sold Speedos, but wanted to help others avoid the fate of my badly advised parents -- a path that took me to the World Trade Center as a Morgan Stanley trainee in 2001

How my mother-in-law steered my career from Olympic swimming in New Zealand to fee-based advising in

I was a 1988 bronze medalist -- a first for a Kiwi male -- taught swimming, sold Speedos, but wanted to help others avoid the fate of my badly advised parents -- a path that took me to the World Trade Center as a Morgan Stanley trainee in 2001

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Why a Miami breakaway trio sees no vice in leaving half-a-billion of client assets on JP Morgan's table

Element Pointe Advisors seek to ease HNW and UHNW client angst by watching their held-away assets

Tuesday 4.5.16 by Lisa Shidler

Why a Miami breakaway trio sees no vice in leaving half-a-billion of client assets on JP Morgan'

Element Pointe Advisors seek to ease HNW and UHNW client angst by watching their held-away assets

Tuesday 4.5.16 by Lisa Shidler

Why a Miami breakaway trio sees no vice in leaving half-a-billion of client assets on JP Morgan'

Element Pointe Advisors seek to ease HNW and UHNW client angst by watching their held-away assets

Tuesday 4.5.16 by Lisa Shidler
0 Comments  
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A breakaway artist confesses the 'mistakes' he made in ushering PBIG's Hou-Sear team

With its elevators, synchronized watches, office space hijinks and voice-over IP, Luminous Capital was a virtuoso Merrill Lynch defection but not to Matt Sonnen

A breakaway artist confesses the 'mistakes' he made in ushering PBIG's Hou-Sear team

With its elevators, synchronized watches, office space hijinks and voice-over IP, Luminous Capital was a virtuoso Merrill Lynch defection but not to Matt Sonnen

A breakaway artist confesses the 'mistakes' he made in ushering PBIG's Hou-Sear team

With its elevators, synchronized watches, office space hijinks and voice-over IP, Luminous Capital was a virtuoso Merrill Lynch defection but not to Matt Sonnen

1 Comment  
1 Comment  

How the mastermind of the Luminous Capital breakaway is parlaying his cloak-and-dagger skills into 'Pure Financial Independence'

With his wife, Larissa, as sidearm, Matt Sonnen seeks to fulfill a niche for a service level between John Furey and Shirl Penney

Tuesday 1.19.16 by Lisa Shidler

How the mastermind of the Luminous Capital breakaway is parlaying his cloak-and-dagger skills into &

With his wife, Larissa, as sidearm, Matt Sonnen seeks to fulfill a niche for a service level between John Furey and Shirl Penney

Tuesday 1.19.16 by Lisa Shidler

How the mastermind of the Luminous Capital breakaway is parlaying his cloak-and-dagger skills into &

With his wife, Larissa, as sidearm, Matt Sonnen seeks to fulfill a niche for a service level between John Furey and Shirl Penney

Tuesday 1.19.16 by Lisa Shidler
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20 months in: A field dispatch from an advisor who started an RIA in a strange city with no clients

After stints as a Beverly Hills broker for Merrill and a salesman for Schwab, the Navy veteran went deep into academia to learn his trade

Wednesday 12.23.15 by Guest columnist Ryan Hughes

20 months in: A field dispatch from an advisor who started an RIA in a strange city with no clients

After stints as a Beverly Hills broker for Merrill and a salesman for Schwab, the Navy veteran went deep into academia to learn his trade

Wednesday 12.23.15 by Guest columnist Ryan Hughes

20 months in: A field dispatch from an advisor who started an RIA in a strange city with no clients

After stints as a Beverly Hills broker for Merrill and a salesman for Schwab, the Navy veteran went deep into academia to learn his trade

Wednesday 12.23.15 by Guest columnist Ryan Hughes
3 Comments  
3 Comments  

Why a $2 billion advisor bolted Goldman Sachs' $26 billion, Albany-based RIA and subtracted 12,000 commuting miles

After sandwiching a 20-year hiatus between GE and Goldman, Susan Reese continues her brilliant career at Joe Piazza's RIA startup in a quest for open architecture and closely held ownership

Tuesday 12.8.15 by Sanders Wommack

Why a $2 billion advisor bolted Goldman Sachs' $26 billion, Albany-based RIA and subtracted 12,0

After sandwiching a 20-year hiatus between GE and Goldman, Susan Reese continues her brilliant career at Joe Piazza's RIA startup in a quest for open architecture and closely held ownership

Tuesday 12.8.15 by Sanders Wommack

Why a $2 billion advisor bolted Goldman Sachs' $26 billion, Albany-based RIA and subtracted 12,0

After sandwiching a 20-year hiatus between GE and Goldman, Susan Reese continues her brilliant career at Joe Piazza's RIA startup in a quest for open architecture and closely held ownership

Tuesday 12.8.15 by Sanders Wommack
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