By Mindy Diamond – Advisor Group’s acquisition of American Portfolios Financial Services reminds independent reps whose broker dealer recently sold that whether content or not with your firm, the news is unsettling. So what does an IBD advisor do next?
Louis Diamond Quoted – By Diana Britton, WealthManagement.com – Waltham, Mass.–based independent broker/dealer Commonwealth Financial Network has confirmed that it recently shifted the way it structures the deals it gives prospects as an incentive to join the firm. It now offers forgivable notes based on an advisor’s asset levels, rather than a percentage of production, which has historically been the norm.
Louis Diamond Quoted – By Tobias Salinger – Two of the major enterprises whose expansion is helping to boost LPL Financial’s record advisor headcounts will enter the new year on a trajectory to grow even more. As OSJs take on more duties than their traditional compliance services, LPL and hybrid RIAs are in “friendly competition” with one another, said recruiter Louis Diamond, the president of Diamond Consultants.
Louis Diamond Quoted – By Andrew Welsch, Barron’s – For more than a decade, a steady stream of advisors have quit their jobs at wirehouses and other big brokerage firms in order to open independent practices. A multitude of companies have since sprung up to offer so-called breakaway brokers support in making the transition from employee to owner. Today, there may be just as many ways for advisors to go independent as there are flavors at Baskin-Robbins.
Exclusive interview with Mindy Diamond and Louis Diamond – By Janet Levaux and Jeff Berman, ThinkAdvisor – Many advisors are choosing to work under the umbrella of a registered investment advisor, and the number of RIAs is on the rise. It’s now at 13,500 and has been growing by about 400–500 firms a year, according to the Investment Adviser Association and National Regulatory Services.
By Joshua Tomolak – In a world that seems to focus on billion-dollar firms making the leap to independence, advisors at a lower asset threshold are wondering how they too can gain greater freedom and control. Here are 4 solid options.
By Wendy Leung, ThinkAdvisor – As the interest in attaining freedom, flexibility and control continues to surge among advisors, new independent models are being born at a rapid pace to accommodate them, providing more choice than ever before.
Multi-channel models are one of the hottest options for financial advisors, providing a path from employee to independence without changing firms. John Peluso, president of Wells Fargo’s First Clearing talks about the benefits, innovation and more.
By Allison Brunwasser – The idea of joining a firm and being able to choose how you affiliate with them at each phase of your career is gaining popularity. With one firm and one platform, advisors can transfer from an employee model to an independent model all under the same roof—with little disruption to their clients and their team.
By Ian Wenik, Citywire – LPL has added its fifth team to its wirehouse breakaway channel. The independent broker-dealer said Thursday that ex-RBC Wealth Management advisors George Chardukian, Adam Goldstein and Maria Peralta, have exited the brokerage firm to set up Adara Wealth Management in Tucson, Ariz.
