Guest Columnist Anthea Penrose

"Wendy Whitehurst, director of advisory solutions at $1-billion AUM Great Lakes &amp; Atlantic Wealth Management &amp; Advisory Partners LLC in Charlotte, N.C., talked about successful recruiting efforts on her firm's part and how wirehouse advisors are the most prone to leaving their firms, due in large part to the DOL. Although many potential wirehouse recruits are initially fearful of change, Whitehurst says once she has opened their eyes to what they can do as an RIA, it’s an easy close."

This was a statement recently published in RIA Biz.  What I want to add--because "it's an easy close" sounds very "salesy," is that we truly take a genuine interest in what will be best for the advisor.  A transition to a new firm is life changing and from our experience--for an advisor leaving large brokerage firm and coming to the RIA platfor--a very positive life change.  This isn't about the "close."  This is about caring and helping another advisor have the best experience life possible as an advisor and offer the best they can offer to their clients.

In calm after storm Raymond James showcases three RIA tipping points at RIA confab -- and two of them are good

Raymond James

Stark & Stark

The Gleason Group

Gavin Gleason

Josh Linkner

BCR Wealth Strategies

Harold Sasnowitz

LuAnn Driscoll

Bill Van Law

Tom Giachetti

Vin Campagnoli

Paul Reilly

Adherents of the hybrid RIA model seem to understand the world in the same terms as Puritan dissenters, now known as Baptists, Quakers, Presbyterians, Unitarians and Congregationalists. The members of those offshoots avoided the fate of the Puritans who believed a little too ardently that grace could not be earned, only bestowed by God. The Puritans are now extinct. More inclusive splinter sects that accommodate striving sinners, on the other hand, have gone on to survive and prosper. Hybrid RIAs espouse a new world order of accountable advice that errs on the side of inclusion of brokers despite their propensity for sin inherent in their inevitable conflicts of interest. RIA purists see this more-the-merrier mindset as too much fiduciary disharmony to throw at clients and an unsettling bifurcation when building a successful, long-haul business. RIA hybrid enthusiasts say the success of this model – and it is the fastest growing in the advisory world -- speaks for itself and that such firms house the best of the transactional brokerage business and the fee business under one roof. Moreover, these evangelists see the hybrid model as a means of bridging the gap between a whole generation financial advisors by leading captive wirehouse brokers to a model that offers more objective, open- architecture advice. Whatever side a reader falls on this dynamic topic certainly deserves a reader section for itself and we are proud to present it.

Hybrid RIA

Asset custodians are the central players in the RIA business and choosing one is the biggest decision most financial advisors will make to build their business. As the place where RIAs park their assets (the same way a captive broker would park assets at Merrill Lynch or UBS), custodians serve hundreds or thousands of these registered investment advisors and make big investments in technology and service on their clients' behalf.

This section features a series of articles under the “Asset Custody Project” label that cover these companies in a way that keeps advisors abreast of their progress – both with journalistic commentary and a common set of data so that advisors can easily compare them. The articles look at the strengths, weaknesses and niche capabilities of these companies.

&mdash; Brooke Southall

Here are links to the profiles of custodians:

 <li><a href="http://www.riabiz.com/a/11942001/">Equity Advisor Solutions</a></li>
 <li><a href="http://www.riabiz.com/a/4977738934910976/with-robo-advisors-on-the-rise-robo-custodian-apex-is-rising-them-a-diamond-mined-from-the-rubble-of-the-penson-worldwide-debacle">Apex Clearing</a></li>
 <li><a href="http://www.riabiz.com/a/11320001">Raymond James</a></li>
 <li><a href="http://www.riabiz.com/a/10207085">State Street</a></li>
 <li><a href="http://www.riabiz.com/a/1812010">Ceros Financial</a></li>
 <li><a href="http://www.riabiz.com/a/9033656">Fidelity</a></li>
 <li><a href="http://www.riabiz.com/a/7435709">Pershing</a></li>
 <li><a href="http://www.riabiz.com/a/1212007">Royal Bank of Canada</a></li>
 <li><a href="http://www.riabiz.com/a/133138">Scottrade</a></li>
 <li><a href="http://www.riabiz.com/a/8101589">Schwab</a></li>
 <li><a href="http://www.riabiz.com/a/8788433">TD Ameritrade</a></li>
 <li><a href="http://www.riabiz.com/a/124061">Trade-PMR</a></li>
 <li><a href="http://www.riabiz.com/a/1161005">Trust Company of America</a></li>
 <li><a href="http://www.riabiz.com/a/1490002">BNY Mellon</a></li>
 <li><a href="http://www.riabiz.com/a/5385142">Folio Institutional</a></li>
 <li><a href="http://www.riabiz.com/a/108011">Shareholders Service Group</a></li>
 <li><a href="http://www.riabiz.com/a/5933001">National Advisors Trust</a></li>
 <li><a href="http://www.riabiz.com/a/22600260/how-us-bank-appeared-on-the-scene-as-an-ria-custodian-and-where-it-might-find-love">US Bank</a></li>
</ul>

If you want a more chronological look at news about the custodians, just scroll down.

RIA Custodians

The St. Petersburg, Fla.-based broker-dealer took unabashed aim at the brokerage model as Tom Giacchetti warned RIAs about an SEC no longer content with firing warning shots

In calm after storm Raymond James showcases three RIA tipping points at RIA confab -- and two of them are good

Wendy Whitehurst

Related Moves

August 24, 2019 at 4:25 AM

June 6, 2019 at 2:16 AM

March 4, 2019 at 11:54 PM

December 3, 2018 at 8:28 PM

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