Nov 15, 2011
By David Trainer
As one financial scandal follows another, it seems the good guys are having a tougher time catching the bad guys. Recent revelations about MF Global’s bankruptcy are reminders of how our regulatory and oversight systems seem to let whales pass through their nets...
Nov 15, 2011
By Alan Lavine
What do you get when you splice together a life insurance policy and an immediate annuity?
A reversionary annuity. Yes, that’s a mouthful, but it carries some of the advantages of each and is ideal for certain kinds of clients.
...
Nov 14, 2011
By Diana Britton
Raymond James recently launched a two-year, mentor-type training program for new advisors, and it hopes the program will be more conducive to attracting and retaining women, although the program is not solely targeting women. Raymond James’ entire advisor force is about 17 percent women, but the inaugural class of the Advisor Mastery Program is already 34 percent female....
Nov 9, 2011
By Jerry Gleeson
Two recent deals by aggregators for sizable registered investment advisors show how both sides can benefit from such mergers. Late Tuesday Focus Financial Partners said it had signed up Sapient Private Wealth Management of Eugene, Ore., a practice with more than $500 million in assets under management that was formed just a year ago by three former Morgan Stanley Smith Barney advisors....
Nov 9, 2011
By Stephen Boswell and Kevin Nichols
Chicago: “I read over and over in your research that ‘personal introductions’ are the number one marketing activity for advisors,” started Jim after our presentation to a group of new advisors. He continued, “I struggle with how the process works for newer advisors. I think it’s a lot easier for veterans. Can you break it down for me?” ...
Nov 8, 2011
By Charles Paikert
The rich are about to get richer: A number of eagerly anticipated high-profile, high-tech liquidity events are bolstering the San Francisco Bay Area’s reputation as one of the nation’s most vibrant wealth management markets....
Nov 7, 2011
By Diana Britton
Ladenburg Thalmann (AMEX: LTS) has closed the deal to acquire independent broker/dealer Securities America from Ameriprise Financial (NASDAQ: AMP), which it had announced in August. Registered Rep. was the first to write about Ladenburg as a potential buyer of Securities America. ...
Nov 4, 2011
By John Aidan Byrne
Despite the compliance hurdles, more than one third of financial advisors see direct handling of clients’ assets by FAs acting as their portfolio managers clearly outpacing other fee-based management styles in the next three years, according to a new survey by the Aite Group. ...
Nov 4, 2011
By Kristen French
Far fewer teams are making the jump to independence today, but they may be taking more assets with them. Still, the wirehouse model has its advantages and the indie model faces compliance threats....
Nov 4, 2011
By Jerry Gleeson
The U.S. economy is poised for improvement, but a change in national leadership is key, Charles Schwab told an auditorium of financial advisors at San Francisco’s Moscone Center who had come for the Charles Schwab Corp.’s annual IMPACT convention. ...
Nov 2, 2011
By Matt Oechsli
Dallas: “I’ve read your book Elite Teams and thought it was full of useful information,” said Tim in a very complimentary tone. He then followed with his question, “I understand the importance of holding an annual retreat, but I’ve never held one. Is it too late to pull one together?” ...
Nov 1, 2011
By Charles Paikert
When the financial service industry’s top executives want in-depth research and insight about the wealth management business, Wallace Blankenbaker is often their go-to guy. ...
Nov 1, 2011
By Anne Field
Patrick Berry is a Navy SEAL and active reservist, but it's interfering with the growth of his practice....
Nov 1, 2011
By Susan Konig
The Michaels Wealth Management Group, UBS, New York, N.Y....
Nov 1, 2011
By Mindy Diamond
What do regional brokerages offer and whom do they attract?...
Nov 1, 2011
By Anne Field
Three RIA custodians talk about who they're recruiting and how they're attracting recruits....
Nov 1, 2011
By Diana Britton
Nov 1, 2011
By Matt Oechsli
A checklist that's not for the faint of heart....
Nov 1, 2011
By Anne Field
With overall headcount in the IBD channel declining, big independent b/ds are offering more products and better services to attract advisors with bigger books and help their own reps grow faster....
Oct 26, 2011
By Diana Britton
LPL Financial (Nasdaq: LPLA) announced third quarter net income of $36.4 million, or 39.3 percent higher than the year-ago quarter, and net revenue of $882.9 million, a 16.2 percent increase from a year ago. But the real buzz during this morning’s earnings conference call was around the firm’s acquisition pipeline, which LPL chairman and CEO Mark Casady said was strong....
Oct 25, 2011
By Jerry Gleeson
TD Ameritrade Holding Corp. continued to grab client assets in its fourth quarter ending Sept. 30, the company said today, and quarterly trading revenue rose sharply. Net new assets last quarter were up a record $12.4 billion, more than double the year-ago period and up from $7.9 billion sequentially. ...
Oct 21, 2011
By Diana Britton
A surprising twist we recently uncovered in research about social media usage: Among financial advisors, insurance advisors are most likely to use social media for business purposes and most likely to have landed clients through social media. These results were among the findings of a recent survey by Registered Rep/WealthManagement.com. ...
Oct 17, 2011
By Kristen French
Wells Fargo’s wealth brokerage and retirement businesses reported third quarter income of $291 million, up 14 percent versus the year ago quarter, while revenue for the division was down 1 percent from the year ago quarter. Revenues declined on losses in the division’s deferred compensation plan investments as well as lower ARS [auction rate securities] recoveries and transaction revenues. ...
Oct 14, 2011
By Joshua M. Brown
You want to know why everyone in this country hates you and wants you dead, you big stupid f#*&@ng bank?
Here's why, pay attention:
...
Oct 11, 2011
By Jerry Gleeson
A widely regarded executive at one of the largest registered investment advisors in the country has jumped ship to start her own practice with another, much larger RIA. Lori Van Dusen, formerly executive director at Convergent Wealth Advisors in Potomac, Md., set up her own RIA in the Rochester, N.Y. area under Focus Financial Partners, effective Oct. 10. The practice, LVW Group, will specialize in wealth management for institutional investors, ultra-high-net-worth individuals, and family offices. ...
Oct 5, 2011
By John Aidan Byrne
The U.S. wealth management arm of UBS is accusing some headhunters of playing dirty tricks. That’s as the business, UBS Wealth Management Americas (WMA), rides out the sensational trading scandal at the London offices of UBS, pushing forward with recruitment plans and gathering assets, people familiar with the firm told Registered Rep. ...
Oct 1, 2011
By Jerry Gleeson
Oct 1, 2011
By Mindy Diamond
The RIA route offers plenty of rewards for those who want independence....
Oct 1, 2011
By John Kador
Think you're smart? Try these brainteasers that recruiters use in actual job interviews....
Oct 1, 2011
By Diana Britton
Sep 30, 2011
By Charles Paikert
Kristi Kuechler, the former president of the Institute for Private Investors and a high-profile figure in the ultra-high-net-worth world, has been named a partner and managing director at Lattice Strategies, a San Francisco-based investment manager, Registered Rep. has learned....
Sep 26, 2011
By Kristen French
UBS top brass sent out a blitzkrieg of reassurances to its prized financial advisors Monday to keep them in their seats and get them to reach out to potentially nervous clients. The effort follows the double whammy of bad news about the bank out in the past week—first the $2 billion loss brought on by a rogue trader and then the resignation over the weekend of CEO Oswald Grubel, who had long said the UBS Wealth Management Americas unit is not for sale. On Monday, interim UBS CEO Sergio Ermotti and UBS Chairman Kasper Villiger sent a memo to advisors re-emphasizing that the US wealth management division is not for sale, a rumor that has been persistent despite continued denials by executives at the bank. Meanwhile, Bob Mullholland got on a call with branch managers and emphatically repeated that it is not for sale and that advisors should get in front of their clients. ...
Sep 20, 2011
By Charles Paikert
The private equity push into wealth management continued yesterday as Los Angeles-based Westmount Asset Management closed on its investment in Rosemont Investment Partners. Terms of the financing were undisclosed, but Rosemont, a private equity firm based in West Conshohocken, Pa., will take a minority interest in Westmount...
Sep 20, 2011
By Stephen Boswell and Kevin Nichols
Minneapolis: "You'd be really proud of me. I've sourced 15 names since our last meeting", Don told us during a coaching session. "It's like I'm seeing the world through a whole new lens. I'm uncovering connections in every conversation.” ...
Sep 16, 2011
By Jerry Gleeson
Financial planning activities are playing a growing role in the service offerings of registered investment advisors. An annual survey of the RIA industry by the Investment Adviser Association and National Regulatory Services shows that 41.4 percent of the industry’s 11,500 RIAs offered some form of financial planning service this year, up from 34 percent in 2006. It isn’t just that RIA numbers are up 12 percent over that period (although this year they fell nearly 9 percent from 2010, the first annual drop over the past decade). Advisors have found greater demand for financial planning help in recent years, industry observers say....
