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Content tagged "Pershing"

Pershing Advisor Solutions

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Roger Hewins: We’re talking about now having 22 locations in 12 states.

A $2.6 billion Schwab RIA grapples with gaining a $420 million Securities America rep firm -- and a big footprint
The Wipfli-Eide Bailly accounting merger doubles Hewins Financial Advisors' opportunity to convert CPA client funds to AUM, analysts say

Friday 1.13.12
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

Tuesday 1.3.12
Mike Golaszewski: I absolutely intend to stay connected to this industry.

After defecting from Schwab a year ago, Mike Golaszewski departs Pershing
The techie helped develop strategies and websites for both companies

Monday 11.28.11
Justin Berman on Goldman Sachs: When I first started there, we could do no wrong.

A Goldman Sachs advisor breaks away, sits out for 90 days and builds a $1-billion-plus RIA
Justin Berman's firm has thrived by investing his own family's money alongside that of clients

Tuesday 11.15.11
Mark Tibergien: If one UHNW client leaves, the sudden loss of revenue can imperil the stability of a firm.

Are ultra-high-net-worth clients really worth it?
Yes, but excellence and profitability need to be weighed against these high-maintenance, resource-sucking and sometimes fickle people of means

Monday 10.24.11
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

Tuesday 10.18.11
Aspiring mixologists Rush Norton, Tim Painter, Kartik Srinivasan, Christina Riley, Alan Strauss

At MarketCounsel Summit 2011, some hard-hitting speeches followed by 'Mohita Madness'
After hearing from industry heavyweights Mark Tibergien, Daniel Bernstein and MarketCounsel founder Brian Hamburger, it was time for a unique cocktail hour in a stunning setting

Thursday 10.13.11
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

Tuesday 10.11.11
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

Monday 10.10.11
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

Friday 10.7.11
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

Monday 9.26.11
The herd of advisors has been culled but the ones remaining may be better ones.

Rough markets cull the advisory herd but in a healthy way, new Cerulli data shows
RIAs grow in numbers and strength

Wednesday 8.31.11
Jerry Murphy is taking the FSC helm.

Four news items for RIAs
Banks buy RIAs again; UHNW go nuts for iPads; the CFP Board gets much tougher; a big IBD gets a new president

Friday 8.26.11
Kim Bang: The fixed-income markets are at a regulatory and competitive inflection point.

Executive leaves Bloomberg with ambitious plan to unify the retail bond market
Kim Bang has experience consolidating securities exchanges and signed on as CEO at BondDesk

Friday 8.19.11
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

Wednesday 8.10.11
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

Friday 8.5.11
Harry Jones: We went through an exhaustive search.

What headway Pershing's RIA unit is making after four years under Mark Tibergien
98 RIAs joined the Jersey City custodian in 2010, up from 35 RIAs in 2009 and 24 in 2008

Monday 7.25.11
Larry Roth: We're attracting more interest and more advisors [than at any time] since I've been in the business. It's not luck. It is our size, scale and platform.

Larry Roth has AIG playing offense again in the advisor game
The CEO is looking for big acqusitions and ways to compete for big RIAs

Friday 7.22.11
Ed O'Brien: It continues to grow, especially as the devices get better.

Fidelity releases mobile trading for advisors - just don't expect many mobile trades
RIAs generally make block trades and use rebalancing software these days and mobile apps aren't ready for that

Tuesday 7.12.11
Mark Tibergien: My goal is to upset you.

Tibergien uses brutal honesty to captivate big Schwab RIAs and others at San Francisco event
The Pershing leader and former Moss Adams star lit into advisors on practice management issues

Friday 6.24.11
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
Mark Tibergien: There are certain reasons – some regulatory - why end clients require a bank custodian rather than a brokerage custodian.

After trying life as two silos, the custody units of BNY Wealth Management and Pershing will largely merge
Collaboration and shared marketing are in the works

Friday 6.10.11
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

Monday 6.6.11
Jon Eaton: We think there’s much more than a niche; we think we have a better solution.

LPL Financial confirms that Akellian hire means big plans for its clearing services
The firm is eying fellow IBDs as customers and it aims to gain footing with Pershing and NFS

Friday 6.3.11
Wayne Winthrow: A philosophical shift.

After AIG presses for new deal, SEI unbundles TAMP offerings
The arrangement between the companies had endured a multi-year "dormancy"

Monday 5.23.11
Robb Baldwin: They’re going to refer business to us… they get multiple inquiries of people that want to go RIA.

Wells Fargo now has a testing paw in the RIA stream
A deal between Trade-PMR and its clearing unit sets up interesting possibilities

Tuesday 4.19.11
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
WealthCentral Mobile is available for download in the Android Market

Fidelity slips in ahead of Pershing on Google phones with WealthCentral for Android
Functionality is just like the iPhone version, with no mobile trading yet

Tuesday 3.22.11
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

Tuesday 3.15.11
Dan Inveen: Making this shift will assure the IBD stays relevant and competitive in relation to independent RIAs.

Pershing study: Why the IBD talent market is headed for trouble and what might reverse the trend
As broker-dealers lose reps, they all have the same strategy for replacement: poaching each other

Tuesday 3.1.11
Jim Roth says that the economic of the IBD business have shifted to make a hybrid model a necessity for IBDs.

Pershing warns IBDs to embrace hybrid business model or risk being marginalized
Schwab gives hybrid advisors another vote of confidence in its own new study yesterday

Friday 2.25.11
Chip Roame: This round of financial advisor aggregators is far better capitalized, and has far deeper management teams – and boards of directors.

This generation of advisor aggregators puts the roll-up ghosts to bed, for now
Questions linger about what some firms will look like post-IPO or merger

Thursday 2.3.11
Scott Dell'Orfano: The average is well up from what we saw at this time last year

Big advisors drive solid year for breakaway wins at Schwab, Fidelity, Pershing and TD
Aggregators drive momentum in 2011

Thursday 1.27.11
Joe Stallings: Many offices around the metro area struggled to continue with business as usual.

How a big Atlanta RIA kept sledding with technology after snow paralyzed the city
Where snow shovels left off, laptops, iPads, iPhones, NetX360 and some forethought took over

Tuesday 1.25.11
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

Thursday 1.20.11
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

Wednesday 12.29.10
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

Friday 12.17.10
Suresh Kumar may be the quiet force behind his company's Citigroup win as he puts finishing touches on NetX360, Pershing's fee and transactional platform

Pershing wins Citigroup account and will support its RIA referral network
The win is 'huge' and affirming of NetX360 because the account is big, branded and exclusive, analysts say

Thursday 12.16.10
Maggie Serravalli is stamping out bifurcation in her new role as Fidelity's service czar.

Fidelity unveils latest effort to make its advisor-servicing silos work as a single unit for hybrids
Pershing still believes it has an edge in seamless service because of NetX360

Wednesday 12.8.10
Mike Golaszewski, now business technology officer at Pershing LLC

A key Schwab web manager jumps cross country to Pershing
Mike Golaszewski will likely join in NetX360-related efforts

Friday 11.19.10
Nevin Freeman: I got the sense this time around that Kumar and his team really are doing what they can to push the envelope.

Nevin looks under the NetX360 hood after it gets 100,000 new users and some overhauling
The ambitious software effort shows signs of 13,000 user comments

Thursday 11.11.10
Richard Hart: We think it’s a really big deal.

(Updated) Fidelity elevates hybrid offering by giving RIA technology to thousands of IBD reps
WealthCentral lures breakaways to FIWS and it may also work for National Financial

Friday 10.1.10
Three months in the making, our new email system launches today.

RIABiz's new email system launches today
A note from the team

Thursday 9.2.10
Ron Shevlin: The message is: Get more aggressive about marketing in general.

9 things to know about the 'truth' concerning RIA use of social media
Results of a new Pershing-Aite study show advisors really are using social media -- and making more money by doing so

Wednesday 7.21.10
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
Mark Tibergien: To advisors, broker-dealers are the Soviet Union and FINRA is the KGB.

Why advisors see FINRA as the devil
A conversation with Richard Brueckner and Mark Tibergien lends perspective to this widely held view by RIAs of the b/d regulator

Tuesday 6.22.10
Richard Brueckner dashed out to get ready to introduce Henry Paulson, but Jim Crowley and Mark Tibergien stopped for a meeting-room photo.

Wrapping up INSITE: Execs on the growth of the advisory business -- and what might endanger it
Pershing works to make a winner of of having multiple advisor businesses under one BNY roof; plus, a conference slide show

Monday 6.14.10
Jim Crowley: We're in a position to move upmarket.

RIABiz team fans out to to Pershing INSITE and TD Ameritrade's Elite conferences this week
NetX360's on the agenda at one of the industry's largest gatherings; Henry Paulson will be on the spot

Tuesday 6.8.10
Peter Berg: What’s been missing is a business development effort of any significance.

BNY Mellon's new RIA custody unit will collaborate [and compete] with Pershing Advisor Solutions
The giant bank believes it can meld technology and sales forces to lure to dug-in breakaways

Wednesday 6.2.10
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
Bill Whitney: Everybody at a wirehouse has reached a gag threshold and is looking for an exit with few exceptions.

UBS brokers break away Mississippi style and a bass-fishing ex-Merrill broker comes out of retirement
Leaving the wirehouse was made easier by a truism of the folksy state: clients would be offended not to be asked to follow

Wednesday 4.28.10
Andy Gill: Clients understand what they're going to get with purchases of new issues of municipal bonds.

Schwab gives investors seat at the table for new-issue municipal bonds with J.P. Morgan deal (updated)
San Francisco broker answers call of RIAs seeking to better serve retirement-minded Baby Boomers

Friday 4.23.10
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

Thursday 4.22.10
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

Tuesday 3.30.10
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

Tuesday 3.23.10
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

Monday 3.22.10
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

Tuesday 3.16.10
Maggie Serravalli: It is about taking it to the next level and making it a distinctive experience

Fidelity names buck-stops-here service czar for all of its financial advisory channels
Maggie Serravalli is aiming for service quality consistency

Monday 3.15.10
Arthur Tambaro: It validates all the work we have done and the technology we continue to develop

How Royal Alliance won a big-time RIA after a string of losses
Rehmann Financial loves the AIG subsidiary's alliance with Pershing

Friday 3.12.10
Mike Durbin authored a memo detailing a major changes to Fidelity's RIA business

Fidelity reorganizes its RIA business
Mike Durbin folds sales and relationship management together and two veterans depart

Wednesday 3.10.10
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

Monday 3.8.10
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

Thursday 3.4.10
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

Wednesday 2.17.10
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

Friday 2.12.10
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

Monday 2.8.10
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
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

Monday 2.1.10
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

Monday 2.1.10
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

Thursday 1.28.10
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

Thursday 1.14.10
Hybrid tomatoes have their advantages and so do hybrid RIAs

5 Reasons why the hybrid RIA model may be a bigger deal than ever
Someday all advisors could be hybrid-like under FINRA

Thursday 1.14.10
Mike Kavanagh: We are taking this very seriously and we’re taking our time with it

RBC is checking every box to ensure it acquires the JPMorgan RIA unit intact
Mike Kavanagh brings the former Bear Stearns service team to Minneapolis for bonding

Wednesday 1.13.10
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

Monday 1.11.10
Paul Lally: Banks see this possibly as the opportunity of a lifetime to get into the wealth management business.

Banks are hungry to buy RIAs again
The same pressures for growth and non-interest income have them shopping, albeit more cautiously

Monday 12.14.09
Mark Tibergien: Nothing is forever. Advisors say they wouldn’t sell to such-and-such organization, but they do.

Deal bottleneck in M&A caused by buyers expecting fire sale prices, report says
Quantity of deals is down but quality may be up; 2010 looks brighter

Friday 12.11.09
Mark Hoffman: An RIA is just like any small business, but with a slug of regulation.

What You May Have Missed: A broker leaves UBS and loops in executive talent for his RIA
Not satisfied to be a mom-and-pop, wirehouse breakaway hires Boston Consulting Group talent out of the gate

Tuesday 12.8.09
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

Monday 11.9.09
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'

Wednesday 10.28.09
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

Thursday 10.22.09
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

Thursday 10.22.09
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

Friday 10.2.09
Paul Lally: "If you educate me, please don't leave me at the altar."

Fidelity races to develop M&A program ahead of looming merger boom
Boston custodian seeks to manage a flood of client requests

Wednesday 9.23.09
Sean Cook: Fidelity's cuts are a validating symbol of the company's willingness to take alternative investments

One notable Fidelity price cut may enliven conversation, advisors say
Cut of alternative investment custody fees is symbolic to key Schwab advisors

Thursday 9.10.09
Eric Thurber, Fred Molfino and Brett Sharkey: Have a niche with VCs on Sand Hill Road

Citigroup share plunge triggers elite Smith Barney team to consider breakaway
Three Bridge Wealth Advisors go RIA route after competitor provides help

Thursday 8.27.09
Barnaby Grist: Big brokerage teams came out of hibernation

Breakaway broker signings rocket ahead in July
Big mood shift has brokers seeking the dotted line to become RIAs as stock market rebounds

Monday 8.17.09
Nevin Freeman: RIABiz webmaster and tech critic at large

Nevin looks under the NetX360 hood (Part 3 in a 3-article series)
Pershing achieves objectives of giant revamp and leaves room for upgrades

Friday 8.14.09
Bernie Clark: Clients have "moved on emotionally" from wirehouses

Schwab: Breakaway uptick is part of secular trend (part 1 of 2 in series)
Breakaway pick-up is mere acceleration of awareness

Tuesday 8.11.09
Matt Lynch: Moving account to Pershing after it "broke down the borders" for hybrids

Two Broker-dealers pick Pershing for hybrid tech after HybridOne comparison [part two of three in a series]
Capital Analysts and First Allied see true melding of hybrid assets at Pershing

Monday 8.10.09
Suresh Kumar: Black Diamond is best of breed

Black Diamond nabs Pershing account
Relative upstart software provider wins another high-profile account

Friday 8.7.09
Mark Tibergien: Plays role in marrying RIA and brokerage assets

Pershing puts RIA custody on desktop of thousands of IBD reps (One of three articles in a series)
Pershing makes mini-custodians out of broker-dealers

Thursday 8.6.09
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