Don’t write off merger and acquisition activity for the registered investment advisor market in 2012 yet. Sure, market volatility and foggy economic prospects dampened dealmaking last year, according to Schwab Advisor Services. ...
Contributions to Fidelity Charitable, the custodian and discount brokerage’s donor advised fund, hit a record of nearly $2.9 billion last year, the fund says. And the influence of financial advisors in managing their clients’ money appears to be making itself felt as well; ...
Much of the talk at the Financial Services Institute’s OneVoice 2012 conference in Orlando is about the challenge independent broker/dealers face by allowing advisors to have their own registered investment advisor. During a Tuesday panel session, IBD executives said the RIA model was putting pressure on their recruiting, profitability and expense of compliance. ...
A top institutional and family wealth advisor from Morgan Stanley Smith Barney has joined HighTower, the Chicago-based national registered investment advisor, providing the RIA with a foothold in the Southwest. James Pupillo, 54, managed $2.5 billion at MSSB’s Graystone Consulting. ...
After the volatility of 2011, forecasting has become a dicey business. A panel of experts at Prudential’s 2012 Global Economic and Retirement Outlook briefing today in Manhattan offered some tentative reasons to believe that better days are ahead, but cautioned that turbulence will persist this year....
Elliot Weissbluth is drawing dozens of large advisors out of the wirehouses and into HighTower, a rapidly growing national hybrid RIA. The exodus says as much about the state of the brokerage industry as it does about what’s happening at HighTower itself....
A year after its launch, a New York-based services provider for high-end wealth managers hopes to draw more advisors to its platform by offering access to the kind of research that’s usually available only to institutional players. Dynasty Financial Partners expects to unveil its new program by the end of the first quarter of 2012. ...
Financial advisor Rick Bloom is better equipped than most to handle an SEC audit. Both a lawyer and a CPA, Bloom runs Bloom Asset Management in Farmington Hills, Mich., a registered investment advisor with $830 million in assets under management. ...
In the managed account market, what difference can fees make? This week Wealthcare Capital Management, an RIA and provider of wealth management advisory services in Richmond, Va., announced its new Unified Managed Household program will charge about 50 basis points less than other managed account platforms. ...
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....
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....
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A bunch of social media services have emerged to help financial services firms comply with regulations and make the most of social networks to build business. They've got big plans for 2012.
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By Jerry Gleeson
