Billion-Dollar Team Leaves UBS, Goes Independent
Wendy Leung Quoted – By Andrew Welsh, OnWallStreet – A UBS team of advisors with a billion dollars under management has left the Swiss bank to form IFM Capital Advisors, an independent RIA.
In the News
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Nicholas Schorsch will throw 25 parties for Cetera reps nationally…
Barbara Herman Quoted – By Lisa Shidler, RIABiz – Twelve days ago, Nicholas Schorsch shocked thousands of financial advisors at Cetera Financial Group by getting their IBD to accept an unsolicited bid for the company. Now, he is throwing a shindig for 500 of them in New York City.
Focus Draws $1B UBS Breakaway Team
Mindy Diamond Quoted – By Janet Levaux, ThinkAdvisor – Focus Financial Partners, a group of wealth management firms, said Tuesday that two former UBS (UBS) advisors have worked with it to start IFM Capital Advisors, a Denver-based independent RIA. Timothy Kneen and Clayton Hartman, who managed about $1 billion in client assets, recently started the firm, which also has offices in Fort Collins, Colo., and Sioux Falls, S.D.
In largest deal of year, Focus nabs $1B UBS team
Mindy Diamond Quoted – By Trevor Hunnicutt, InvestmentNews – Focus has been actively looking to facilitate breakaway deals by helping wirehouse teams form their own firms or join existing Focus partners. In the largest announced deal of its kind this year, a group of financial advisers who managed $1 billion in assets at UBS Wealth Management Americas left the massive Swiss-owned brokerage to start an independent firm with offices in the Western United States.
Press Release – Former UBS Advisors Launch IFM Capital Advisors
Mindy Diamond Quoted, BusinessWire – Focus Financial Partners, LLC, the largest partnership of independent wealth management firms, today announced the launch of IFM Capital Advisors (“IFM”), a Colorado-based independent Registered Investment Advisor (RIA) with offices in Denver, CO, Fort Collins, CO, and Sioux Falls, SD. Established by former UBS advisors Timothy Kneen and Clayton Hartman, who managed approximately $1 billion in client assets, IFM has been launched through Focus Connections, a program that helps wirehouse teams successfully transition their business and launch their own independent wealth management firm.
Tips for advisors-in-transition in a talent squeezed market: Part II of II
Mindy Diamond Quoted – By Cynthia Stephens, Morningstar – Last week (see blog: Tips for advisors-in-transition in a talent squeezed market: Part I of II) I recounted three tips from Mindy Diamond, President and CEO of Diamond Consultants, for advisors-in-transition.
Tips for Advisors in Transition in a Talent Squeezed Market Part I of II
Mindy Diamond Quoted – By Cynthia Stephens, Morningstar – Are you thinking of making a career transition in 2014? Given the generational talent crisis that our wealth management industry faces, you may have your pick of firms to choose from if you are planning a move. That said — you’ll want to be strategic about your choice and weigh the options carefully.
If the Market Levels Off, Will More Brokers Break Away?
Howard Diamond Quoted – By Joan Warner, Financial Advisor IQ – FA-IQ asked Diamond Consultants managing director and COO Howard Diamond for his view of the broker recruiting landscape going into 2014.
BNY Mellon is arming Pershing’s RIA unit to the teeth with banking products for ultra high net worth clients
Mindy Diamond Quoted – By Lisa Shidler, RIABiz – BNY Mellon and Pershing are forming a more perfect union on behalf of big-time RIAs whose clients are rich enough that they don’t want to go through the wringer to borrow cash. Having the bank and brokerage side linked up together gives Pershing a serious leg up on the other custodians, Mindy Diamond, chief execuitve of Diamond Consultants, says.
Out From Under
Mindy Diamond Quoted – By Megan Leonhardt, WealthManagement.com – A bull market helps many advisors feel pretty good about the firms they work for. Still, according to the 2013 Broker Report Card, some are happier than others.
