By Mason Braswell, AdvisorHub – Raymond James Financial has wooed a large family team that had generated $6.5 million in annual revenue at Merrill Lynch Wealth Management in Zanesville, Ohio.
By Jake Martin and Mason Braswell, AdvisorHub – NewEdge Wealth, a registered investment advisor led by a group of high-producing emigres from UBS Wealth Management USA, reached back into the wirehouse on Friday for an 11-person team in South Florida managing a combined $3 billion in client assets.
Josh Brown went from mechanical engineer to the Merrill training program, building a business from 0 to $650mm. Firm changes prompted him and his team to consider their options, launching Northend Private Wealth on LPL Strategic Wealth Services.
By Meghan Seawell, AdvisorHub – Going independent is a big decision. For Adam Goldstein, it became a foregone conclusion. When the Arizona advisor – named Best-in-State Wealth Advisor by Forbes in 2020 – learned about LPL Financial’s new breakaway solution, Strategic Wealth Services, he knew he had found something intriguing.
Louis Diamond Quoted – By Miriam Rozen, AdvisorHub – A long-running trend of experienced broker attrition from wirehouses is ebbing, Merrill Lynch, Morgan Stanley and Wells Fargo executives claimed in the past week. But the advisor teams that do breakaway from the wirehouses continue to have an adverse impact since they leave with large chunks of assets, the recruiters said.
Louis Diamond Quoted – By Janice Kirkel, Financial Planning – Analysts say the decision by Dynasty Financial Partners, the St. Petersburg, Florida-based RIA and turnkey asset management platform with $65 billion in client assets, to launch a $100 million IPO is what would be expected from a firm that has undergone measured rather than explosive growth with managers who have significant experience in the public markets.
Louis Diamond Quoted – By Jeff Benjamin, InvestmentNews – Dynasty Financial Partners is turning to the public equity markets to support its strategy of helping wirehouse representatives break away to become independent financial advisers. “The IPO is very exciting as a further validation of the success of the RIA space,” said Louis Diamond, president of Diamond Consultants.
Key insights shared by recent breakaway advisors and independent business owners curated from the 2021 season of the podcast series for financial advisors. Topics include why they chose independence, motivations to change, impact to clients and more.
Barron’s Hall of Famer and Hightower Trailblazer Richard Saperstein: On Rising from Crisis, Team Building and the Real Value of a Business
Richard Saperstein rose out of the ‘08 financial crisis to build the now $20B+ Treasury Partners. He discusses that journey, his decision to affiliate with Hightower Advisors, plus the firm’s unique business model, the secret to their success and more.
Rich Mullen of $1.75B RIA platform Pallas Capital Advisors shares creative ways he grew the business serving ultra-high net worth clients with a level of continuity that he could not achieve on his own or as an employee of UBS.
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