In the News

Raymond James launches phenomenal RIA-like pay structure to the $100 million set

 [March 19, 2013] Raymond James is hoping to stand out among breakaway teams with $100 million in assets by dressing up its payout structure so it is more RIA-like and, ultimately, more competitive with RIA custodians. Their previous payout structure was more complex and costly to advisors, and industry leaders say the company, with its splashy new policy letting advisors keep 100% of their advisory fees, is now poised to compete head-to-head with RIA custodians. Raymond James has a culture of keeping its advisors happy, and advisors are typically brought into the fold with the promise of better financial packages, says industry […]

Read more...

Wirehouses Playing Defense by Supporting Broker Disclosure

[March 13, 2013] Wirehouse support of FINRA’s proposed rule requiring brokers to disclose recruiting incentives caught many by surprise. Many industry observers characterized it as an effort to curb the ever-growing piles of money the firms must pay to recruit top talent; others suggested brokers would be less likely to jump from the mother firm if they knew they had to disclose incentives. … Mindy Diamond, president of the recruiting firm of Diamond Consultants, says that firms really had no choice. “I don’t believe that the move has anything to do with a clandestine effort to drive transition deals lower. They didn’t have […]

Read more...

The Producing Office Manager – Asset or Competition?

[March 11, 2013] Over the last decade, consolidation and other “efficiency” initiatives have resulted in the loss of jobs for thousands of wirehouse branch managers. … As the big firms continue to consolidate, this is a choice more and more non-producing managers will inevitably face. The job can be rewarding for those who manage to pull it off. Not surprisingly, time management skills are critical, as is the ability to ensure other full-time reps that their turf is not being invaded from an internal competitor. Non-producing branch managers get a base salary—typically between $75,000 and $140,000 a year, says Peterson. “While […]

Read more...
RIA Biz Financial Advisor News

How a top RIA recruiter made an 18th century landmark into a breakaway safe house

[March 7, 2013] Burgundy ooze and bats were daunting but the American Revolution-era structure is now home to cloud technology and flat-screen TVs Brooke’s Note: No matter how automated, digital, fiber optic and virtual the advisory business becomes, it will survive based on its humanity. Being human means loving things for reasons that go beyond their immediate utility. So it was nice to see that a prominent recruiting company had become the resident curators of a bit of a money pit. It just so happens that the building also supports wildlife and the friendly ghosts of American history. I admit that […]

Read more...
REP WealthManagement.com

Let’s Make a Deal…The RIA M&A market is poised for growth, but not gaudy growth

[February 26, 2013] The RIA M&A market is poised for growth, but not gaudy growth. While the RIA mergers and acquisitions market is poised for growth, the number and size of the deals are likely to make a slow (but steady) climb back to pre-recession rates; few expect a fury of dealmaking. The dealmaking speculation hit a high note last year with the announcement of the Luminous deal in November. The Los Angeles-based firm started with a breakaway team from Merrill Lynch in 2008. And with that, the firm’s assets swelled and helped create a strong high-net-worth client base, even during […]

Read more...
The Wall Street Journal

Why Advisors Are Afraid to Go Solo…and How They Overcome These Fears

[February 23, 2013] Going independent is a dream of some financial advisers. But there is often plenty of fear mixed in as advisers contemplate breaking away from a big brokerage firm. They may worry that their clients won’t follow, they’re not qualified to run a business or their earnings will shrivel. When advisers go out on their own, they’re not only responsible for servicing their clients but may have to deal with all the responsibilities of running an office, including bill paying, compliance and fixing the printer when it breaks, he says. While entrepreneurship isn’t appropriate for every adviser, they shouldn’t […]

Read more...
RIA Biz Financial Advisor News

HighTower Grabs Sought-After $650mm Merrill Lynch ‘Life Sciences’ team and Shrugs off Recent Deal Slowdown

[February 20, 2013] In the old money town of Philadelphia, the strategic buyer is ‘planting a flag’ and going after new wealth created in the biotech realm HighTower Advisors LLC is officially back in the deal-making business, grabbing its largest breakaway in six months — a Philadelphia-area team with $650 million in assets. HIghTower announced Tuesday that Gregory C. Sarian and Francis X. Masse II of The Sarian Group joined the firm as partners and managing directors. They left Merrill Lynch on Friday to join the Chicago-based RIA and combined have more than 35 years’ experience in the financial services industry. […]

Read more...
Think Advisor

More Advisors on the Move in 2013: Diamond

[February 8, 2013] Last year was average to down for advisor transitions, but 2013 is shaping up to be strong for recruitment Recruitment momentum in the registered investment advisor (RIA) and regional space should jump higher in 2013 after a slow 2012, as advisors in search of independence are now sufficiently prepared to make a move, recruiter Diamond Consultants reported Wednesday. Diamond predicts this year is likely to be a more robust recruiting year than last based on inbound calls and conversations with advisors, as well as deals closed in January and those now in progress. While Diamond’s 2013 forecast is strong, […]

Read more...
Page 33 of 35« First...1020...3132333435