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U.S. Trust loses $5.9B adviser to new wealth venture
Todd S. Thomson, Citigroup Inc.'s former head of wealth management, lured a top Bank of America Corp. financial adviser with $5.9 billion in client assets to join a new business that caters to independent advisory firms.
One RIA’s ‘biggest mistake’ when setting up shop
When Brian O'Neill decided to set up his own registered investment advisory practice, he hired compliance consultants to help him file his SEC registration
DOL, industry spar over fund lineups
The Labor Department and representatives from service providers and pension advocacy groups sparred last week about whether presenting a retirement plan with a fund lineup constitutes investment advice
<b>From the Headhunter:</b> The offer advisers can’t refuse
Remember this scene from The Godfather? Michael and Kate (played by Al Pacino and Diane Keaton) are…
Why doesn’t Wells Fargo expand its ‘Profit Formula’ — and why haven’t other firms copied it?
Are you familiar with the Wells Fargo Profit Formula program? It was designed and originally launched by Wheat First, the Richmond, VA based regional broker dealer bought out by First Union in 1997. Wachovia and First Union merged in 2001, and Wells saved Wachovia from collapse in 2009.
More wirehouse blues?
Once, big firms battled other big firms for the best advisory talent. Now, smaller firms are nipping at their heels as well.
Time to put real teeth on accredited-investor rules
It is time for the Securities and Exchange Commission to set an even more rigorous net-worth standard for “accredited” investors than the requirements set forth in the Dodd-Frank financial reform law
Advisers may blow deadline on ADV-2 forms
Flooded with last-minute calls from registered investment advisers who haven't filed their new plain-English ADV Part 2 forms, compliance consultants estimate that a third or more of them will miss the Securities and Exchange Commission's Thursday deadline
Advisers reaching out to clients in wake of Japan disaster
Investment advisers took to their phones or e-mail to answer client concerns about the possible effect of the crisis in Japan on their investments and on the U.S. recovery in general, according to an InvestmentNews website poll conducted this week.
New Form ADV-2 adding costs, confusion for advisers
A new rule aimed at making the financial advisory business more understandable to clients is giving advisers a headache.
Advisers not charging enough: Study
Many fee-based advisers are under-charging for their services and cheaper rates do not bring in more clients, study finds
Are your wealthy clients cheating on you?
Reluctant to entrust their financial assets to any one financial adviser, the nation's top tier of investors is spreading its wealth. In fact, new research shows that well over half of wealthy clients now work with at least five advisers.
United Capital moving up the food chain, buys $1.6B RIA
Purchase of Zirkin-Cutler biggest acquisition to date for roll-up firm
Schapiro must learn from her mistakes or go
Mary Schapiro, chairman of the SEC, cannot be surprised that she is taking heat from Congress for hiring a general counsel who played a role in determining how victims of Bernard Madoff would be compensated, even though he had benefited from an investment with the notorious financial criminal
A fiduciary field guide
On the subject of fiduciary responsibility, there is probably no one more knowledgeable about the history, ethics and…
The top RIAs
The largest, fastest-growing, and up-and-coming registered investment advisory firms.
Taking the plunge
Alan Harter's clients started suggesting more than two years ago that he should cut his Wall Street ties and become their independent investment adviser
SEC gave investors half a loaf in arb panel ruling
The SEC deserves a pat on the back for eliminating the requirement that a securities industry representative sit on Finra arbitration panels. Still, its obligation to assure that investors get a fair shake in disputes with their brokers remains unfulfilled.
SEC OKs all-public arbitration panels
The Securities and Exchange Commission yesterday approved a Financial Industry Regulatory Authority Inc. proposal to give investor claimants the option of using all-public arbitration panels.
Planning well in advance will pay off in the end
Ameriprise Financial Services Inc. advisers Dave Dryden, Travis Carter and Wayne Smith were running their own independent office, in their own building, with their own staff.
