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Articles published 2/2012


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Roger Hewins: We're all pretty upset about it.

Two accounting firms abandon merger talks leaving giant Schwab RIA surprised and crestfallen

Wipfli and Eide Bailly suddenly quit the field leaving industry observers -- not to mention Hewins Financial -- wondering why

February 29, 2012 at 5:17 AM

Mike Harger: What we’re hearing is, 'We like your commitment to the marketplace.'

Fidelity reports 57% boost in 401(k) sales as it sets its sights on smaller plans and advisors

Heading downmarket, the Boston-based firm is trying to muscle in on boutique providers

February 29, 2012 at 5:00 AM

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?

February 28, 2012 at 4:01 PM

Ryan McDermott: It's a proven business model, highly, highly validated. I get to work within that.

Why a $6 billion New York RIA is finally making its California debut

The partners of BBR found a fellow Goldman Sachs alum they could trust 3,000 miles away

February 28, 2012 at 5:09 AM

Franklin Tsung: It is a messy business and not for the meek.

How AppCrown got a big RIA footprint overnight by handling Salesforce implementations

TD and Fidelity are in with both feet but some are taking a wait-and-see attitude

February 27, 2012 at 5:02 AM

Andrew Arenberg: Our goal is to build Russell 1.0, not iShares 2.0.

How Russell is faring since joining the competitive ETF party with an all-star ex-Barclays crew

The team is offering two dozen enhanced ETF offerings, hoping to gain traction with advisors in an increasingly competitive market

February 27, 2012 at 5:01 AM

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

February 24, 2012 at 4:24 PM

Rob Isbitts: Options typically require far less capital than inverse ETFs used to hedge.

4 reasons to use options -- and 4 more reasons why you should think twice

Options can smooth the bumps inherent in longterm investing but expect to take some time educating your clients about them

February 24, 2012 at 4:17 PM

Leo Kelly: I say to my clients: This is going to be a household name.

HighTower wins a $700 million Merrill Lynch advisor in Maryland horse country and wrests an LA-based IAR from an RIA

The Chicago consolidator's transitions teams had a brutally busy Presidents' weekend bringing aboard teams on both coasts simultaneously, from Merrill and The Presidio Group

February 23, 2012 at 4:19 AM

Ed O'Brien says CRM is an appropriate hub for an advisor system of technology under certain circumstances.

As WealthCentral surpasses 2,000 users, Ed O'Brien responds to questions about Fidelity's technology system at T3

The head of Fidelity's RIA tech efforts says that the technology is a good fit for breakaways

February 23, 2012 at 4:03 AM

Brad Stratton: I realized that [Merrill Lynch] was going in a different direction.

Veteran Merrill Lynch manager leaves seven registrations on the table to return to his pure-RIA roots

Fed up with BofA and faced with a choice between managing advisors and being one, Brad Stratton moves to CONCERT

February 22, 2012 at 4:08 AM

Les Abromovitz: The SEC and state securities regulators want to prove they are aggressively overseeing RIAs.

Lost in limbo: How and why compliance officers can seem to thwart RIA marketing efforts

CCOs have valid reasons for poring over the content of any proposed articles coming from their firm -- but they owe you a quick response

February 22, 2012 at 3:52 AM

Bill Crager: I think advisors are going to want something more end to end...we think that's going to be a competitive difference.

Can the new Envestnet-Tamarac Godzilla take on the Advent-Black Diamond King Kong?

Tamarac has trusted relationships with several hundred RIA firms who might like outsourced investments on their dashboard

February 21, 2012 at 6:27 AM

Joel Bruckenstein (with David Drucker): It is the only time during the year that all of the technology vendors to the industry are gathered in one place.

RIAs flock to Dallas for the T3 technology conference

The seventh annual gathering drew 500 advisors, execs, software vendors and custodians with integrations, mobile apps and clouds on their minds

February 21, 2012 at 6:17 AM

Philip Palaveev: The more icy and snowy the road the less you want to hit the accelerator or the brake.

Best advice for 2012: Risk being a bit boring and focus on the organic growth of your practice

Growth from within is a challenge across all channels and needs to be addressed

February 20, 2012 at 7:03 AM

Jack Waymire: You do not have to wait for investors to figure out the benefits of transparency on their own.

How exactly RIAs can leverage the new transparency as a marketing tool

Fee-only advisors will reap the benefits of fuller disclosure and here are some ways to highlight your competitive advantage

February 17, 2012 at 4:28 PM

Kevin Uebelein will assume the new role of global head of solutions delivery for Pyramis

What's a Pyramis? Fidelity poached a top Columbia funds exec so you won't ask that question

Mike Jones oversaw $326 billion at the Ameriprise Financial subsidiary

February 17, 2012 at 4:21 PM

Paul Schott Stevens: These proposals are like a game of Clue. (Photo by Bloomberg)

New rule threatens to drive millions of investors out of money market funds, ICI chief warns

Paul Schott Stevens and a very blunt John Bogle air their views at the Bloomberg Portfolio Manager Mash-Up Conference in New York

February 17, 2012 at 7:16 AM

Jud Bergman: We value their market position within the independent RIA segment which is core to Envestnet’s growth initiatives.

Big deal: Envestnet will acquire Tamarac for $54 million

The big Chicago outsourcer nabs the fast-riser in the RIA software business and one competitor says: "now what?"

February 16, 2012 at 6:17 PM

John Beirne: It was really traumatic to go to my manager's office and resign.

A $2 billion, 69-year-old Merrill Lynch advisor passes up the gold watch in favor of breaking away

Fearing the loss of massive public accounts, John Beirne swallowed the idea of independence with help from Focus Financial

February 16, 2012 at 4:33 AM

Marie Chandoha: I like to build things.

Schwab turns the YieldPlus page the old-fashioned way -- with a whole new CSIM team

Ex-Goldman and former BlackRock star Marie Chandoha has quickly overseen Charles Schwab Investment Management's rise from Barron's #34 to top 10 -- but Morningstar wants to see more

February 15, 2012 at 3:36 PM

Mag Black-Scott: We want to be in major cities where there is a good opportunity. That will take us to the East Coast eventually.
February 15, 2012 at 6:38 AM

Lou Harvey: It's really going to annoy the hell out of the plan sponsors.

Which three of DOL's new 401(k) rules represent the biggest land mines for financial advisors and plan sponsors

Accepting gifts, estimating fees and using asset allocation models all demand treading lightly

February 14, 2012 at 6:06 AM

John Bunch: I felt like I can go out on top and do something different.

A few words with John Bunch as he steps into the CEO spot at The Mutual Fund Store

Getting recruited away from TD Ameritrade was a shock but ultimately one that captured his heart

February 14, 2012 at 6:04 AM

Bill Van Law: The RIA space is where the growth is. We looked at it and said: "We're not really capturing it"

Raymond James launches a separate RIA unit and appoints a former Merrill Lynch breakaway to head it

Calling the RIA business a 'strategic imperative', Chet Helck is making Bill Van Law the founding president of the RJ investment advisors division

February 13, 2012 at 5:58 PM

Maria Marsala: Change of pace is nice, constantly operating this way will drive you nuts.

10 reasons for advisors to just say no to less-than-ideal clients

Choosing a niche helps identify the ideal prospect

February 13, 2012 at 5:58 PM

Fred Reish: Before, the statement said that you should consider firing the provider but now it's very clear that it's mandated.

DOL tells employers when they must fire advisors to 401(k) plans

The new teeth in the rules went unnoticed by many people amid other changes

February 10, 2012 at 5:26 AM

Derek Holman: We had grown to the point where the business took up most of the day.

Looking for a second growth spurt, a billion-dollar-plus RIA hires away a Nuveen global ops man

Patrick Goshtigian, new president of EP Wealth Advisors has taken over back-office operations from its founders and is also heading up its expansion efforts

February 10, 2012 at 5:22 AM

Ben Brigeman is leaving as Schwab searches for ways to boost profitability in its retail business.

Ben Brigeman is exiting Schwab and his position atop its retail business -- perhaps portending bigger changes

The San Francisco-based company will have Andy Gill and John Clendening assume the duties

February 9, 2012 at 9:59 PM

Frank Leto sees value in Davidson Trust though Boston Private said it had a negligible bottom line impact.

Where Boston Private Financial stands after selling one of its last original acquisitions for $10.5 million

The roll-up spun out Davidson Trust and its $1 billion of AUM to Bryn Mawr Trust, which largely unwinds Boston Private's aggressive buying spree from last decade,

February 9, 2012 at 4:17 PM

Chris Blunt: Meet with both spouses at least once a year for a “what if . . .?” conversation.

After the loss of a spouse: Five pointers for helping grieving clients

Effective guidance at this crucial time can be enormously helpful to those you serve – and support the maintenance of valued relationships as well

February 9, 2012 at 6:52 AM

John Bunch's decision to join The Mutual Fund Store sets up a major expansion.

John Bunch is hired as the new CEO of The Mutual Fund Store

The TD Ameritrade and Schwab veteran is charged with dotting the country with MFS company outlets as Adam Bold moves over

February 8, 2012 at 9:04 PM

Tom Bradley: It all came together over the weekend.

Why TD Ameritrade didn't reveal Tom Bradley's new executive position during its national conference

...and other things I learned from talking to the new president of TD retail and his replacement, Tom Nally

February 8, 2012 at 4:07 PM

Jon Foster: We think there will be a natural flow of wealthy families.

Jon Foster partners with $40 billion institutional advisory firm in bid to create big RIA

The former E*TRADE and Carson Wealth executive is leveraging the business of Angeles Investment Advisors and will recruit elite wirehouse brokers

February 8, 2012 at 2:54 PM

Robert Moore: We like transparency.

LPL sees bright spots amid sideways 4Q earnings report

The firm is buoyed by increase in advisors, a perceived edge in the 401(k) segment and interest generated by the Fortigent deal

February 8, 2012 at 5:36 AM

Dennis Miller: My view was their stock was better than mine.

Why this time Dennis Miller is entrusting his $1.3 billion RIA to an advisor who sold his $2 billion RIA

Miller/Russell formerly sold to a bank and so did its new CEO, Mark Feldman; GenSpring and Western Alliance were pretty good partners but it was still a pretty rough experience for the advisors

February 7, 2012 at 6:46 AM

Tom Nally finally gets to step up into a role that has been synonymous with Tom Bradley's name.

Tom Nally to take the reins of TD Ameritrade's RIA business from Tom Bradley

Tom Bradley will become president of retail distribution, setting him up as a potential successor to Fred Tomczyk in the CEO role, one expert says

February 6, 2012 at 10:39 PM

Larry King: No one owns us...It's really the best of all worlds.

Dynasty adds Larry King, a cornerstone advisor of legacy Smith Barney's family wealth unit

At Morgan Stanley Smith Barney, the Saratoga Springs team had about $1.2 billion

February 6, 2012 at 5:33 PM

Tom Bradley has achieved impressive results by not taking life too seriously.

What Tom Bradley's 25-year reign at TD Ameritrade says about the RIA business

People in this industry can be themselves while prospering and inventing a profession

February 6, 2012 at 5:12 PM

Dick Cheney expressed some gloomy views about the economy and the terrorist situation.

TD Ameritrade brings some Florida heat to the RIA winter

The custodian rolled out a major event sprawled across multiple hotels

February 6, 2012 at 4:33 AM

Tom Bradley: We're not seeing any inroads to our business from these smaller players.

Tom Bradley answers 10 questions about TD Ameritrade's competitive stance in his 25th year

The industry veteran takes time out from TD's Orlando, Fla. conference to talk about about how his RIA custodian can compete with bigger and smaller competitors alike

February 3, 2012 at 6:02 AM

New England Patriots coach Bill Belichick is the king of “halftime adjustment."

What does Tom Coughlin bring to a Super Bowl that Bill Belichick does not?

He brings a military precision and you're late if you're not five minutes early to a meeting

February 3, 2012 at 6:00 AM

Marty Bicknell: There will absolutely be more deals [this year].

Mariner Wealth Advisors buys a $1.3 billion wealth manager that first unwound its ties to a bank

CEO says Kansas firm will also add 100 advisors in its quest to become $50 billion company

February 2, 2012 at 4:34 PM

Scott D'Alessandro left Fidelity last month as part of Fidelity's realigning of its sales efforts.

As Fidelity disassembles powerhouse sales team aimed at major RIAs a top talent departs

Scott D'Alessandro's position was a casualty of Fido's new regional approach that worked so well that the last vestige of the old system was eliminated

February 2, 2012 at 3:35 PM

Mike Byrnes: Likely, the advisor's lack of preparation leads to a fire sale, or even worse, the business just disbands and the clients are left out in the cold.

Have an aversion to succession plans? Consider a continuity pact as a vital baby step

Dying without any plan is inviting disaster for family, employees and clients

February 1, 2012 at 10:56 PM

Rudy Adolf: We have more capital than anyone else in the (advisory-buying) industry.

Focus Financial gains access to 'huge money' -- $320 million in credit

The capital hoard positions the big aggregator to double its advised assets, one observer says

February 1, 2012 at 3:30 PM

Mike Durbin: Now we can say: Here's the data.

Fidelity dissects the breakaway cycle with a new study

On average it's a seven-month process, and many advisors admit that they are winging it

February 1, 2012 at 3:27 PM

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