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Content tagged "Advisor Growth Strategies"



Ron Carson: I have an account at Betterment.

Why Ron Carson brought Steve Lockshin onto his team and how Betterment fits into their plans
The head of LPL's flagship RIA and Barron's top independent advisor of 2011 are pooling brainpower and embracing the possibility of deploying strategic robo-advice

Tuesday 1.28.14
Mike Papedis: We are not engaged in responding to gossip and we are sticking to our business strategy.

Top recruiter Kevin Geary exits HighTower
The departure of the acclaimed Schwab veteran is a palpable sign for some that the roll-up is going in a new direction

Monday 1.27.14
Laurie Kamhi: Being a partner and having a say in future development is important to me.

HighTower shifts into high gear with a three-team, $1.2 billion AUM in-three-weeks spree
An alpha predator in 2010, 2011, the Chicago-based rollup, now with with 260 employees, roars again, twice at Merrill Lynch and once at UBS

Monday 12.2.13
David Canter: From the session on valuation, we learned that it's more complex than most are willing to admit.

What happened when Fidelity Investments called 25 deal-making protagonists to its Boston sanctum for a talk about the suboptimal RIA M&A market
David Canter recounts what his company set out to do, who showed up and what the pooling of ideas yielded

Monday 9.30.13
Brad Sullivan: I have a four-year-old son. I would not put my son at risk if I didn't think this move was worth it.

Why a young Morgan Stanley team moved to Beverly Hills Wealth Management -- with a child in mind
The breakaway movement continues to revive fueled by mid-sized firms like Sullivan Wealth Management despite a bull market

Thursday 7.25.13
John Furey:  Most deals get stuck when a proposed transaction is accretive for only one party.

How, strangely, money gets downplayed in RIA deal making and why it helps explain an anemic flow
Culture, fit, philosophy and a firm handshake are all swell, but without a financial bettering of the parties' interests, a deal rarely progresses

Friday 5.10.13
Matt Sonnen: I made a lot of mistakes along the way, and I hope I can help others avoid those.

Focus Financial goes after $100-million wirehouse brokers after hiring five employees suited to the task
The big New York aggregator will put the brokers through a one-year seasoning process before placing them in RIA foster homes

Monday 4.15.13
Leo Kelly: I broached the subject and said I'd really like for us to work together some day.

This RIA recruited the Morgan Stanley manager who almost recruited him ...
... right after he grabbed a Fortigent CIO-type and hotshot Merrill advisor

Thursday 2.28.13
Mindy Diamond: You can imagine the size of transition packages that he was offered and turned down.

HighTower grabs sought-after $650 million Merrill Lynch 'life sciences' team and shrugs off recent deal slowdown
In the old money town of Philadelphia, the strategic buyer is 'planting a flag' and going after new wealth created in the biotech realm

Wednesday 2.20.13
John Furey:  Ignoring changes to the market could be dangerous and outright irresponsible.

How RIAs are becoming as complacent as wirehouses -- and what it'll take to snap out of it
There is empirical evidence that challenges are increasing but also reasons to believe they can be met

Monday 12.10.12
John Waldron: We know that LPL is putting things in place so that it can focus on the ultrahigh-net worth market, but we wanted to be with partners who already have those services in place.

$1.2 billion RIA breaks it off with LPL as new beaux Fidelity and Pershing vie ardently for favor
Seeking support for its superrich clients, Waldron Wealth lets the big IBD down easy, retaining its subsidiary, Fortigent

Wednesday 11.7.12
Tyler Cloherty: Without organic growth, they'll continue to lose on both hands.

The prognosis for Morgan, Merrill, UBS and Wells is even grimmer than the negative hype, Cerulli report shows
The wirehouses have stopped training, are ruthlessly chopping lower producers. and many advisors they'd like to keep march out the door

Tuesday 10.2.12
Eugene Lerner: As we can do some good, I'll be here.

How HighTower brought an 83-year-old, $600-million breakaway broker back from the wirehouse side
After Eugene Lerner moved his RIA to Morgan Stanley Smith Barney, HighTower lured the former pupil of Milton Friedman and professor of Alan Greenspan back to the RIA world

Tuesday 7.24.12
Michael Nathanson promised deals -- and quickly delivered.

Mintz Levin sells its $1.2 billion RIA, and Focus Financial nabs the assets through a partner firm
In an all-Boston deal, The Colony Group becomes a $2.5 billion behemoth only months after hooking up with the big New York consolidator

Thursday 5.31.12
Iconiq's San Francisco offices are little more than a receptionist's desk and a row of trading screens -- but it's more than enough to manage the assets of Facebook's billionaires.

How the Facebook IPO is creating the mother of all RIAs, Iconiq, and what an in-your-face it is for Wall Street
Breakaway out of Morgan Stanley, Divesh Makan, attracts the Mark Zuckerbergs and Sheryl Sandbergs of the world with his pedigree and presence

Friday 5.18.12
Christopher Mason is keeping his assets at Fidelity: "They don't have quarterly earnings and they don't do stupid things."

Why one UBS advisor broke away even knowing that his former partner would keep the 401(k) assets
Christopher Mason is establishing Fontis as part of CONCERT but hasn't given up hope of selling his portfolio management skills on UBS' platform

Thursday 5.17.12
John Furey: Everyone just hit it off.

John Furey is creating a think-tank out of six big RIAs that want to grow like roll-ups without the pressures of an IPO
The Alliance for RIAs includes Savant Capital, Carson Wealth, Beacon Pointe, Stratos and Highline

Monday 4.30.12
Steve Lockshin: We are never going to succeed unless we build a brand.

Steve Lockshin and Charles Goldman begin to unveil Advizent, a venture that could put thousands of RIAs under a single cooperative
The Convergent CEO and ex-chief of the Schwab and Fidelity RIA custody units will refer consumers to advisory firms -- but only after doing an intensive 'audit'

Thursday 4.5.12
Joan Khoury: We have flexibility of delivering advice to a broader range of investors.

LPL lures top execs away from Merrill Lynch, MSSB
Such defections from the wirehouse world to the IBD arena would not have happened even 10 years ago, recruiters say

Monday 3.5.12
Ryan McDermott: It's a proven business model, highly, highly validated. I get to work within that.

Why a $6 billion New York RIA is finally making its California debut
The partners of BBR found a fellow Goldman Sachs alum they could trust 3,000 miles away

Tuesday 2.28.12
David Darnell spent time today letting Merrill Lynch brokers know that he's a banker sympathetic to generous brokerage compensation.

David Darnell tells Merrill Lynch advisors he won't mess with their pay
But recruiters say all comp factors don't necessarily show up on the official payout grid

Thursday 9.8.11
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

Tuesday 8.9.11
Many of Paul Pagnato and David Karp's clientele have security concerns so they keep a low profile - including no photos.

Fearless Merrill Lynch team breaks away with $1 billion in broad daylight
Paul Pagnato and David Karp started their day in Washington DC and ended up in Reston, Va.

Tuesday 8.2.11
George Bush: I wouldn’t call me Wall Street. I’d call me a West Texas skeptic.

Pershing clarifies how it's the un-Schwab and a far-flung crowd pours in to South Florida
The INSITE conference draws a diverse set of advisors, Bush speaks and advisors get word on Dodd-Frank

Monday 6.13.11
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

Thursday 7.15.10
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

Wednesday 5.26.10
Derek Bruton's hybrid RIA platform receives an endorsement from an unlikely source: Morgan Stanley

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

Tuesday 2.2.10
Elliot Weissbluth is turning his guns on the Los Angeles market now that he's secured $100 million

Weissbluth lands war chest for HighTower Advisors [Updated]
The $100 million haul means the Chicago company can battle wirehouses for talent on equal footing

Tuesday 1.12.10

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