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Content tagged "Danny Sarch"


Leitner Sarch Consultants

Filed under: Recruiter
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Jeffrey Fratarcangeli is the dream FiNet recruit -- big assets from a big rival.

The perplexing case of Wells Fargo's non-wirehouse advisors: A blueprint for Merrill, UBS and Morgan or a cheap lesson in what not to do
The good news is that FiNet is the fastest growing channel at Wells Fargo; the bad news is that its brand and compliance can be hindrances

Tuesday 7.29.14
Danny Sarch: I don't think this is desperate at all. If you don't have money, then you can't make the deals.

Ameriprise makes its move upmarket by first moving its bonus payouts to Wall Street levels
The Minneapolis-based broker jacks its sticker bid to 150% bonuses of brokers' last 12-months of revenue

Friday 6.13.14
Mike Maurer: We've coached their kids in little league and gone to weddings and funerals with them.

How Ex-Morgan Stanley powers are rolling up ex-colleagues and how big Raymond James cash fits into the picture
Steward Partners Global Advisory will custody all its assets at RJ but won't have to foot the bill for signing bonuses

Monday 5.12.14
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
 Raymond James recruited Becky Wiles, Terry Wiles, Heather Monzote, Ryan Smith and two hound puppies, Maia and Sky, in December.

The story behind how Raymond James won two big teams from LPL and Wells Fargo in the past couple of weeks
When the mid-sized Florida broker-custodian takes on bigger giants, it plays the little-guy card

Tuesday 1.7.14
Matt Enyedi: Anytime we do something at LPL, it's under the lens of how can we do this for RIAs. Five years ago, if we'd rolled this out, it would have been only for LPL corporate firms.

LPL Financial gets beyond the halfway-house model to compete with Schwab, Fidelity for advisors that are wholly RIAs
The big broker-dealer is making moves that do not discriminate against, may in fact favor, pure RIAs, but hybrid habits die hard, skeptics say

Tuesday 12.17.13
Patrick Burns: The shift was sudden.

Backs to the wall, wirehouses renew legal efforts to stem team breakaways -- with junior partners sparking the tension
Lawsuits by Merrill, UBS, Morgan Stanley have been spiking in recent months, according to industry observers and lawyers, and it can take precious time and big money to make them go away

Wednesday 10.23.13
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
Mike Papedis: For reasons unknown, it hasn't translated to movements.

Deal-making momentum is AWOL 'for reasons unknown,' but HighTower Advisors wins an outsource deal with a fresh $500 million Morgan Stanley breakaway
This deal looks pretty normal, but the Alabama sign-on looks like a pioneer in this eerily quiet market

Wednesday 9.18.13
Bill Van Law: We saw advisors who ... left for an RIA model, and that was disturbing. That reinforced that the strategy wasn't going to work going forward unless we created something more competitive.

After 'disturbing' RIA losses at Raymond James, Bill Van Law is going on offense -- starting with hires of veteran LPL and Fidelity execs
The big Florida custodian and broker is finally holding itself accountable to a stiff target -- doubling to $16 billion in two years -- as it buys up expensive talent while cutting prices

Tuesday 7.23.13
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
James Gorman: This is a historic day for Morgan Stanley.

What 'historic' deal James Gorman really closed by paying Citigroup to release its tentacles from Smith Barney?
The implicit mission of Morgan Stanley in hiring the ex-Merrill Lynch brokerage chief was to switch market positions with Merrill -- and perhaps thats just happened?

Monday 6.24.13
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
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
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
The New York Times ran a very similar article to the one it published back in July.

The New York Times exposes JPMorgan's brokers, yet again
Same reporters, similar storyline as last summer's article, but this time with audio recordings as supporting material

Monday 3.4.13
Ed Friedman: The new proposal will curtail the “serial” movers from jumping ship every few years strictly for the check.

Will FINRA knock out the 'serial movers' and boost the RIA option in the bargain?
A rule looked at for decades may finally gain traction

Friday 11.30.12
Scott Smith: It almost seems like collecting the $15 fee would be more labor for UBS then it's worth.

Is UBS channeling its inner IBD in levying $15 charges on its advisors for redundant mobile devices?
The wirehouse's charges seem on target on paper but are they penny rational and pound foolish?

Wednesday 8.8.12
Mathew Goldberg: They didn't care.

JPMorgan breakaways make Page One of the New York Times after $9-billion loss puts spotlight on Dimon's bank
It's a familiar story of pushing proprietary product and advisors not going for it -- but under a sterling brand

Monday 7.9.12
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
Jerry Eberhardt: I know a lot of people [from Smith Barney] who may be appropriate to look at the independent space.

Extracting a mentor from retirement, Shirl Penney continues to make Dynasty look more like Smith Barney than Smith Barney
Jerry Eberhardt oversaw Citi's wirehouse for the Western U.S. and now he's eager to help advisors looking to transition from the big branded firms

Thursday 4.12.12
Danny Sarch: It was a ballsy thing to do.

RIAs line up behind Greg Smith as Goldman Sachs reels from exec's New York Times op-ed grenade
The advisory community indulges in a bit of schadenfreude as a departing executive director slams the wirehouse culture

Thursday 3.15.12
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
Tony Sirianni: Our biggest issue has been overwhelming demand.

Revenge of the branch managers: Washington Wealth is rapidly putting ex-wirehouse workers in play nationwide
The fledgling RIA is swamped with interest and likes its high-class problems

Friday 8.12.11
Mindy Diamond: Right now, independence is what’s hot.

Why Mindy Diamond is morphing her firm away from pure wirehouse recruiting
Fees are still paid on contingency so a sit-down with her consultancy costs nothing

Friday 4.29.11
Ric Edelman: One of the biggest hirers in the business looks for 10 years of experience and the ability to assist clients to implement their financial plans.

RIAs are hiring like crazy in 2011 but sticker shock, picked-over talent pool may await laggards
The recession was so deep this time around that advisors may find good talent in the bread lines

Tuesday 1.18.11
Mindy Diamond: Morgan Stanley has a supreme name and a swagger.

Counterpoint: Intra-Wall Street recruiting by Morgan Stanley Smith Barney has picked up in the past 60 days
Results of reinvigorated efforts may show up on Labor Day

Monday 8.9.10

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