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Content tagged "Ryan Shanks"



Steve Foldes: This creates a big win for me.

How Steve Foldes merged his $600-million RIA with mentor (and former advisor) Harold Evensky creating a $1.5 billion Florida behemoth
The former sandal magnate got rich at 35, became an Evensky client, a rival and now a partner

Thursday 6.19.14
Ram Nagappan: Everything has a computer inside it, so the goal is to find simple ways to send data that is contextual.

INSITE 2014 unveils wired body armor for the advisor of the future as it rolls out a slew of NetX360 upgrades
Mark Tibergien delivered a personal challenge to advisors at the overflowing South Florida Pershing confab as INSITE announces plans to shift ground in '15

Monday 6.9.14
Victor Fettter: We believe there's a special sauce that LPL can provide and I don't think there's one size fits all.

Victor Fetter turns his guns on LPL's thorniest software challenge -- 21st century performance reporting
The former Dell guru eschews a best-of-breed strategy as his firm plays a game of catch-up under a big tent

Monday 4.21.14
Tom Valverde's hire is part of Fidelity's new 'geographical' sales strategy.

Fidelity Institutional bags Pershing's RIA sales chief and gives him a lesser title
The prize is Tom Valverde who Pershing replaces with Ben Harrison

Thursday 4.17.14
Bill Morrissey epitomizes LPL's ability to grow rapidly.

What Derek Bruton's replacement may say about the departure that still has people shocked
Bill Morrissey is known to grind out quantifiable results

Monday 4.14.14
Derek Bruton: It allowed me to step back and look at all I had accomplished to date and where I wanted to go from here.  In the short term, I will be taking some time to prioritize and recharge.

What is the story with Derek Bruton's sudden LPL departure?
The powerful veteran seemed to be in the prime of his career and rising with a long track record of goodwill

Sunday 4.6.14
Nicholas Schorsch: We don't want more product sales.

Nicholas Schorsch explains why buying Cetera makes him a white-hat magnate in a black-hat world
The RCS chairman says the whole purpose of buying IBDs is to diversify away from product sales

Tuesday 2.4.14
John Deremo: Once we paid the government back in excess of $22 billion, we consider that whole matter is behind us and we're tackling challenges of tomorrow.

AIG puts its once-tarnished brand on a small band of obscure insurance brokers -- perhaps testing the waters for Royal Alliance and friends
The insurance giant isn't ruling out whiting out the motley brands of Royal Alliance, FSC, SagePoint and Woodbury

Thursday 1.16.14
Ruth Papazian: LPL was at that stage of really wanting to grow like H.D. Vest is today, and I love to grow things.

Ruth Papazian bursts back on the scene to jolt H.D. Vest out of its accountancy coma
The ex-LPL marketing czar lands at the Dallas firm as marketing and recruiting chief tasked with losing the 'stale' marketing and replenishing an army of low-producing advisors

Friday 10.18.13
Wayne Meier: When Amerprise sold them, I was glad to see it.

How exactly Securities America won back a $414 million team that left in a huff in 2007
The once embattled broker-dealer -- after switching out Ameriprise as owner -- is determined to woo back former advisors who left during turmoil

Thursday 9.26.13
Sharon Miller: We partner back and forth between Merrill Lynch and Merrill Edge so it is seamless.

The amazing success of Merrill Edge and why some legacy Merrill brokers think it's eating their seed crop
It won $87 billion in brokerage assets in three years, but some old Merrill Lynch vets say it's just pulling emerging accounts away from thems

Monday 9.23.13
Ryan Marcus: My job is to bring them to the big dance.

After a head-fake, Royal Bank of Canada shows it's back (or never left) in the RIA game with two NextGen hires
100 brokers have moved to RBC's broker dealer or RIA unit in the last 4 years though some recruiters need convincing that the RIA unit is more than a retention tool

Thursday 9.5.13
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
Jeff Spears: People have the mantra that if it ain't broke, don't fix it. There are no pain points.

How two deals struck last week show midsize RIAs reigniting the M&A and breakaway movements
The stakes are high for an ex-Morgan Stanley team that bolted with years to go on retention bonuses and a Virginia RIA is hitching its expansion plans to United Capital's star

Monday 7.15.13
Bill Wostoupal: It is highly unlikely the IBD is going to help them put a private-labeled app in the Droid and App stores.

What Securities America and NorthStar Financial are up to with the creation of Arbor Point
The Cornhusker State companies found common ground in building a home for the burgeoning 'Goldilocks' category of not-too-RIA, not-too-IBD advisor

Monday 7.1.13
Wayne Bloom: If we have an advisor who wants to be part of the community and values what we bring to the table, I could care less how they are registered.

Commonwealth and Securities America get into the RIA custody business and Wells Fargo is right behind them
IBD execs are pulling out the stops to court a finite pool of advisors in motion

Wednesday 6.12.13
Dan Arnold: Now that our footprint's in place [we're] moving into the third phase of our strategy in 2013.

LPL to Wall Street types: We're in phase three
At a Merrill Lynch forum, the IBD's CFO explains that Phase I was the mass accumulation of advisors and Phase 2 was about RIA-ification

Monday 5.20.13
Walter Bettinger: We did not expect conflict. We're not seeing it.

Some Schwab independent branches are raking in assets as much as 200% above goals, Schwab CEO says
Analysts applaud the scant data but one RIA has the opposite reaction to what Walt Bettinger said

Thursday 5.2.13
Mark Casady: When our same-store sales are up, then recruiting is typically down.

LPL, Raymond James and TD data -- and Walt Bettinger, Mike Durbin comments -- reveal rotten first quarter for breakaways
Mark Casady's explanation is hard to swallow for Danny Sarch, Mindy Diamond; Bettinger inveighs against 'rat trap' of checkbook recruiting; Ryan Shanks says advisors are "numb to the chaos"

Friday 4.26.13
Michael Kitces: We've sparred back and forth on a couple of things over the past few years.

Two firms that have love-hate relationships with RIAs draft their harshest critics to serve as consiglieres
Advisor-rater BrightScope and tech startup Riskalyze draw two smack-talking industry observers into their inner circle

Tuesday 4.16.13
Barnaby Grist: I do hope to come back to this industry and even to Cetera if the timing is right.

In the wake of an unusual HR event, Cetera is seeking its new Barnaby Grist
Donald Marron has worked to bring class to the IBD business ands Grist captured that in human form

Monday 4.8.13
Tom Bartholomew: I don't have to have the downtime and overhead and the legal costs of running the independent RIA.

How one IBD rep just zoomed to $1 billion AUM -- on his way to $2 billion -- but remains impervious to calls from RIA custodians
Tom Bartholomew says that his pull with Commonwealth gives him more time with clients and extra-responsive service

Wednesday 3.27.13
Scott Curtis says the payout changes were made with RIA custodians like Schwab, TD Ameritrade and Pershing in mind more than broker-dealers.

Raymond James launches 'phenomenal' RIA-like pay structure to the $100 million set
The custodian hopes its keep-all-the-gravy pay scheme will keep its own advisors from defecting and win would-be RIAs

Tuesday 3.19.13
Aaron Klein: I'm hoping that our entire industry will rise up and throw the idea of selling IPOs and derivatives to grandmothers under the bus.

Riskalyze debuts website featuring 'worst' wirehouse portfolios to shock and attract clients
Horror stories abound -- like the 82-year-old widow who has 15% of her holdings in Apple stock and 9% in Facebook

Friday 2.15.13
Maury Fertig: When it came to their personal investments, they were bad as everyone else.

How a Chicago RIA grew to more than $700 million by carving out a client niche of wirehouse execs
Two Salomon Brothers alums gained the trust of masters of the universe who have seen how the sausage is made yet still make rookie investing blunders

Wednesday 1.23.13
Joe Duran: We really think our next wave of growth will be to open offices around the country with our retail brand.

United Capital's Joe Duran throttles back on deals as he opens an RIA version of Hamburger University
Stephanie Bogan will lead the training center that aims to create corporate 'mini-me's' around the country

Wednesday 11.28.12
Dwight Mathis: By the time they graduate after 43 months it'll put clear blue sky between us and our competition.

Merrill Lynch makes bold moves to train new recruits for an RIA-centric future
The rethought training program suits up new advisors -- many of them career changers -- for independence as well as for the wirehouse path

Wednesday 11.21.12
Andrew Salesky will step up to oversee Schwab's ground game.

Schwab hits the nine-franchise mark as it seeks one new, first-rate chief to head it up
New franchises are hitting asset goals and five more franchises are in the hopper for launch

Monday 11.12.12
Bryan Chew (l.) with his team: I felt there wasn't anyone I could turn to at LPL.

Commonwealth racks up a $100 million LPL team by using its broker-dealer's greater size against it
The Waltham, Mass.--based IBD believes this is LPL's soft underbelly because small-and -familial is why many advisors joined the old Linsco/Private Ledger from wirehouses in the first place

Thursday 8.9.12
Larry Roth's proposed purchase proves that AIG's Advisor Group is finally playing offense after the 2008 meltdown of its parent organization.

Press report: AIG pays in the ballpark of $115 million -- or $82,000 per rep -- for Woodbury
The low price-per-rep may reflect the fact that few of Woodbury's advisors are high-end producers with sophisticated clients, one analyst says

Wednesday 8.1.12
Leslie Ferrone was impressed with how Merrill overcame its problems with women advisors but was repelled when it couldn't overcome creeping bank culture.

She settled with Merrill Lynch over discrimination, loved Merrill again for years but then bigger problems arose
A lover of the herd, Leslie Ferrone couldn't stomach the bankification of her wirehouse

Monday 5.7.12
Walt Bettinger: This is a whole new ball game when you're a franchise with Schwab

Walt Bettinger explains to Wall Street why some prospects are balking at investing in Schwab franchises
The Schwab CEO tells listeners of the interim update that the $10 million asset-gathering quota is a psychological hurdle -- but one that can be overcome

Friday 4.27.12
Chip Roame sees a coming explosion of discount brokerage branches.

8 notable takeaways from the spring 2012 Tiburon CEO Summit
The breakaway movement still depends more on Wall Street's moves than Main Street's moxie

Wednesday 4.18.12
Danny Sarch: Some guys at Merrill have targeted this date for more than a year.

Merrill Lynch springs a 62-advisor, $13 billion asset leak in the first quarter
February was a cruel month for the wirehouse as payouts and retention bonuses came due; UBS came out smelling like a rose

Tuesday 4.17.12
Brad Griswold: Many of the changes were beneficial to the [LPL] advisors as a whole, but did not offer as much value to our practice.

Why an 18-year LPL rep moved most of his firm's $250 million of assets to Schwab
Brad Griswold had a fondness for Schwab from using PortfolioCenter and is determined to remove all obstacles to growth, profitability and offering choice to clients

Wednesday 4.4.12
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?

Tuesday 2.28.12
Mike Bindas: We're very impressed on how they kept it together.

Securities America shifts back on offense as it wins a $350 million advisory firm from Investment Centers of America
After weathering scandal and sale, the Omaha, Neb. firm has signed on Great Plains Financial, a hybrid advisory with an eye toward growth

Friday 2.24.12
Fred St. Laurent: The advisor will lose all of those bottom-end customers and Merrill will lose them too.

Merrill Lynch unveils changes to broker compensation
LPL, Schwab, TD, and RIAs are poised to reap a windfall as Bank of America says no thanks to the $250,000 set

Friday 12.30.11
Ron Shevlin: Advisors are jumping on the bandwagon without a clear understanding of what they're doing there.

Early adopters of social media, RIAs are growing disenchanted with its power to drum up new business
Advisors must become better marketers before they can optimize social media, experts say

Thursday 12.29.11
Mary Murphy is carrying the Schwab brand on her shoulders.

And they're off! Schwab opens the doors to its first independent franchise ... in New Hampshire
Ex-wirehouse advisor and teacher Mary Murphy puts her toe in the water, perhaps leading the way

Wednesday 12.14.11
Scott Curtis: Going over to the independent contractor model is kind of like going back to where I started.

With Dick Averitt retiring, Raymond James taps a star from within to take on LPL
Scott Curtis' background includes GE Financial, Raymond James and life as the son of a Dartmouth coach

Thursday 12.8.11
Ryans Shanks: What’s stopped you in the past is that internal mechanism that tells you not to run your own business. Now, you can see all of the firms.

Ryan Shanks and Ned Van Riper eHarmonize big-fee broker recruiting
JoinAFirm.com is expected to give independent firms more play by offering more options and keeping it casual

Thursday 10.27.11
Scott Collins: I felt there was a better way. I had one [platform] I could sell. It was like an advisor showing one mutual fund.

Two former LPL execs set up a breakaway boutique that works with Raymond James and Schwab, among others
Flush with IPO cash, Scott Collins and Scott Miller were determined to have open-recruiting architecture and more counseling

Friday 7.29.11
John Moninger: We think we’ve struck a great balance.

LPL has a new high-margin, high accolade advisory platform but SAM's sticking around
Under Model Wealth Portfolios, the advisor stops picking investments, but they still pick strategies.

Tuesday 5.24.11
Frank Pizzichillo: The road less traveled has a few more footprints on it.

The overlooked option for breakaways: tucking-in
A new channel to independence emerges, complete with soft-landing service providers

Tuesday 5.10.11
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

Monday 4.18.11
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

Tuesday 3.29.11
Barnaby Grist: "We’re big enough where we can spend a lot of money. We’re ready to show the world. We want them to come look at us."

Cetera's big fee move with a game-changing twist
Barnaby Grist has been laying the groundwork for the incentives change for a year

Friday 3.18.11
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

Thursday 7.1.10

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