Louis Diamond Quoted – By Charles Paikert, Financial Planning – Matt Brinker, the M&A mastermind who supervised 90 deals in his 13 years as a top executive at United Capital Partners, has joined Merchant Investment Management as a managing partner. The move strengthens the New York-based holding company’s already formidable executive lineup and underscores the company’s bid to become a major player in the RIA M&A market.
By Jake Martin, Citywire – Integrated Partners is adding a $100 million Merrill Lynch breakaway that the LPL-affiliated hybrid firm said will push it past $7 billion in brokerage and advisory assets. New Jersey-based advisor Harrison Till, a former Duke University and Ohio State University football player, works primarily with business owners, corporate executives and employee benefit plans. He will adopt the Integrated brand as a newly-minted independent advisor.
By Patrick Donachie, WealthManagement.com – Integrated Partners is welcoming Harrison Till to the organization, the Massachusetts-based hybrid registered investment advisor firm announced at the MarketCounsel Summit in Orlando, Fla. today. Till will join Integrated from Merrill Lynch and will bring along approximately $100 million in brokerage and advisory assets.
By Louis Diamond – It’s not surprising that the RIA space often garners the lion’s share of attention both in the media and with advisors considering their next chapter. Who can dismiss the excitement around the ongoing growth fueled by what seems to be a constant flow of big teams breaking away from the brokerage world to build their own independent firms as either hybrid or fee-only RIAs?
By Louis Diamond, ThinkAdvisor – It’s not surprising that the RIA space often garners the lion’s share of attention in the press and with advisors considering the next chapter of their careers.
Louis Diamond Quoted – By Ian Wenik, Citwire – Fidelity Investments isn’t taking the Charles Schwab-TD Ameritrade mega-merger lying down. Though the $26 billion all-stock deal – officially revealed on Monday – will create a combined firm that Cerulli Associates estimates will custody 51% of RIA assets, Fidelity has already shown signs of how it will respond to its new role of the next-biggest option for advisors by default.
Louis Diamond Quoted – By Lisa Shidler, RIABiz – Walter Bettinger is making almost no promises to TD Ameritade RIAs about their new life as Charles Schwab & Co. clients — and, in fact, warned today that the impact on revenues may be a “modest” concern relative to direct-to-consumer retail.
Louis Diamond Quoted – By Lisa Shidler, RIABiz – When Steward Partners Investment Advisory LLC, raised $50 million from private equity earlier this year, it immediately used half the money to cash out early internal shareholders — but not because the company isn’t growing and morphing like crazy. Steward has grown from 60 to 115 advisors, with 19 advisors, six new offices and $13 billion in assets added this year, according to CEO Jim Gold. The new 1099 model competes even more directly with Raymond James, says Louis Diamond, principal of Diamond Consulting.
Louis Diamond Quoted – By Alana Pipe, FundFire – More than a third of financial advisors are expected to retire in the next 10 years, which will result in an estimated $7.8 trillion in assets changing hands, according to a recent report from Cerulli Associates. In anticipation of this retirement boom, wealth management industry firms are scrambling to ensure the smooth transfer of clients to the next generation of advisors while keeping assets in house. For younger advisors, building a business at a wirehouse like this comes at a price, says Louis Diamond, executive v.p. and senior consultant of Diamond Consultants, a recruiting firm.
Louis Diamond Quoted – By Hazel Sheffield, RIAIntel – “Success favors the brave.” Those words appear beneath Michael Souza’s name on his LinkedIn profile. And that same quote is splashed prominently across the website of his company, Koa Wealth Management, the independent RIA he founded in San Diego that manages roughly $100 million in assets.
