January 22, 2019 – Mindy Diamond Quoted – By Mrinalini Krishna, Financial Advisor IQ – Sunset agreements are a fast-growing technique the industry is using to help solve its looming advisor retirement problem. But are these contracts setting up the next generation of advisors for failure?
In the News
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January 15, 2019 – Louis Diamond Quoted – By Diana Britton, WealthManagement.com – Private Advisor Group, a hybrid registered investment advisory and office of supervisory jurisdiction of LPL Financial, recently introduced a new affiliation model aimed at luring financial advisors out of the wirehouses and making it easier for them to move to true independence, with an assist along the way powered by PAG. While the model may be a departure for LPL and sets the firm apart from other OSJs in its network, observers say the changes bring it up to par with what some others are already doing in the RIA space.
January 11, 2019 – Mindy Diamond Quoted – By James Connington, Fund Intelligence – Next year will see the rise of advisers who want independent but don’t want to run their own businesses, as the rapid reorganization of the advice landscape continues, according to top industry executives.
January 4, 2019 – By Mindy Diamond, WealthManagement.com – Advisor movement among the top producers in the industry—those from traditional brokerage firms and banks who are managing $1 billion or more in client assets—is on the rise, with 25 of these uber-teams having moved in 2018. And while these teams seek greener pastures to grow their businesses, the rest of the industry can learn from this wave of movement.
Rockefeller Capital puts its third RIA talent anchor in place with hiring of Anthony Grosso in San Francisco and his venture capital connections
December 28, 2018 – Louis Diamond Quoted – By Brooke Southall, RIABiz – Rockefeller Capital Management has hired Anthony Grosso to establish and manage its San Francisco office — the third stanchion of a national build-out. He joins San Francisco-based Christopher Dupuy and will assume the role of chief operating officer for private wealth management.
December 28, 2018 – Mindy Diamond Quoted – By Janet Levaux, ThinkAdvisor – First Republic Bank, which has about 150 financial advisors, will become part of the S&P 500 on Jan. 2. The firm is set to replace energy utility SCANA Corporation, which is being bought by Dominion Energy.
December 27, 2018 – By Mindy Diamond, WealthManagement.com – December 27, 2018 – I’ve met with a number of very impressive entrepreneurs—some I’d even call visionaries—who have launched or are about to launch serious and legitimate wealth management firms. Sure, with the industry climate as it is, this may not be such a surprise. But the real story here is that these firms are part of a whole different breed—a new-fangled, modern twist on registered investment advisory firms—emblematic of how the industry landscape has expanded to address the changing needs of the advisor population at large. The model I’m referring to is “quasi-independence.”
December 20, 2018 – By Mindy Diamond and Shirl Penney, Financial Advisor IQ – It’s no secret that wirehouse firms want to keep their advisors captive. Protocol departures, shoring up non-solicitation agreements, deferring compensation, and mandating garden leave for those who choose to move to a competitor are strategies designed to stave off attrition.
December 17. 2018 – Louis Diamond Quoted – By AdvisorHub Staff – RBC Wealth Management quietly fattened its hometown forces by recruiting three teams near Minneapolis collectively managing more than $1 billion from wirehouses in the past few weeks, but UBS Financial Services has recovered a broker from the largest-producing group.
December 10, 2018 – By Mindy Diamond, OnWallStreet – For advisors, 2018 was all about adapting to major transformation. For firms, it was about the battle for control which left advisors at a crossroads of accepting themselves as agents of their firms or crafting creative ways to break free.
Recent News & Articles
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