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In the News

$275m NJ RIA exits independent space for Ameriprise

Posted by Wendy Leung

April 23, 2020
By Jake Martin

Bedminster, New Jersey-based advisor Robert Bacino recently switched to the employee channel of Ameriprise Financial, leaving behind the independent RIA space he had joined more than 15 years ago.

While the Covid-19 pandemic might have accelerated the move, Bacino says he was already leaning toward an exit from the independent channel.

Bacino, who formed his RIA, Insight Financial Advisors, in 2004, said he was in search of better technology and more operations support as his interest in practice management waned.

‘I started to become less excited about the RIA world,’ he said. ‘Running an RIA in this environment is time-consuming and costly.’

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Wendy Leung

About Wendy Leung

Senior Consultant – Wendy's goal is simple: To leverage a comprehensive understanding of the industry landscape today and forces that will change it tomorrow, to guide advisors to opportunities where they can achieve long-term success for their business, clients and families. Learn more...

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