Results for "breakaways"

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Bob Oros of HighTower calls protocol exit 'form over substance'

May 15, 2019

HighTower Advisors put an exclamation point on its move away from recruiting breakaway brokers this week by officially exiting the broker protocol. "It's a little bit of form over substance," said Bob Oros, chief executive of the $50 billion...

Merrill loses $450 million breakaway team

May 7, 2019

Craig Robson, an Atlanta-based adviser managing $450 million in client assets has left Merrill Lynch to create the independent firm Regent Peak Wealth Advisors. Mr. Robson had been with Merrill Lynch since 1994. Joining Mr. Robson at his new...

Choppy stock market leads to fewer wirehouse reps fleeing the coop

April 30, 2019

The stock market correction at the end of last year is being credited with putting a damper on breakaway broker activity during the first three months of this year. The latest data from Echelon Partners show that just 94 advisers exited the...

RIA M&A sets another record in 2018

January 14, 2019

The financial market volatility that picked up in earnest last year was not enough to derail the pace of consolidation among registered investment advisers. Echelon Partners reported Monday that merger and acquisition activity in the RIA space...

LPL affiliate Private Advisor Group launches new plan to attract wirehouse brokers who may want to go RIA

January 10, 2019

LPL Financial's largest affiliate, Private Advisor Group of Morristown, N.J., is launching a new platform its partners believe will give it the ability to attract wirehouse brokers who want to transition to the RIA channnel. Private Advisor...

Bob Oros takes over as HighTower CEO

January 7, 2019

HighTower Advisors confirmed on Monday that industry veteran Bob Oros has taken over as CEO of the Chicago-based RIA consolidator. The news, which was originally reported in November, puts Mr. Oros at the head of a $60 billion wealth management...

Chief operating officers lift advisory firms to the next level

November 2, 2018

If you're not sure whether your advisory firm is ready to hire a chief operating officer, it probably is. While COOs are often dismissed as simply an added expense, adding one can be a key ingredient in helping a firm grow to the next level,...

Advisers carve wealth management unit out of $16 billion asset manager

October 30, 2018

The wealth management ranks inside Madison Investment Advisors have gotten a little thinner after veteran advisers Walter Dewey and Benjamin Dickey spun off last week, along with $400 million in client assets, to launch their own firm, Resonant...

Top lessons learned during a breakaway transition

October 30, 2018

More than two years ago, our team began to explore whether the registered investment adviser platform was better for us than the independent broker-dealer world we were in. Although business was good, we felt it would be beneficial to learn...

RIA consolidation on pace for sixth straight record year

October 18, 2018

The pace of consolidation among registered investment advisers slowed slightly during the third quarter but remains on track for a sixth consecutive record year. The latest report from Echelon Partners counted 43 RIA acquisitions during the...

Sanctuary Wealth Partners rolls out red carpet for breakaway brokers

October 1, 2018

Sanctuary Wealth Partners has signed its fifth advisory team in as many months, bringing its total assets under to management to $5.5 billion. The Indianapolis-based hybrid RIA announced Monday the addition of RiceBarrett Family Wealth, a $240...

Better together? Why not all advisory teams are meant to go independent

September 17, 2018

For advisers who yearn for independence, going independent on their own can seem like the perfect solution. Advisers are attracted by the flexibility of the registered investment adviser model and the ability to serve their clients in a conflict-free...

Merger and acquisition activity drops dramatically in the second quarter

July 31, 2018

Merger and acquisition activity in registered investment adviser firms dropped dramatically during the second quarter, according to a report from DeVoe & Co. RIA transactions dropped to 32 in the second quarter from a record 49 in the first...

Eight advisers managing $616 million join Benjamin Edwards

July 11, 2018

Eight advisers managing $616 million have joined St. Louis-based Benjamin F. Edwards & Co. Five of the advisers — the father-and-son team of David and Tyler Herr in Chandler, Ariz.; Bill Raymon in Birmingham, Ala.; James Garner in Atlanta;...

Wells Fargo loses $450 million hybrid to LPL

June 28, 2018

Rockline Wealth Management, a hybrid firm that managed $415 million when its principals were affiliated with Wells Fargo Advisors, has affiliated with LPL and will use the firm's corporate registered investment advisor platform. Rockline, which...

Orion sets sights on breakaway brokers

June 6, 2018

Orion Advisor Services is the latest technology company turning its attention toward breakaway brokers. The portfolio management software provider announced a new program on Wednesday called Fast Track to support advisers leaving wirehouses...

RIA sellers might be rushing in ahead of market turmoil

April 23, 2018

The first quarter of 2018 saw a record level of consolidation activity in the financial advisory space, according to the latest report from DeVoe & Co. The 47 registered investment adviser transactions during the first three months of the year...

Adviser's Consultant: Luring breakaway brokers to a hybrid RIA

March 30, 2018

Alex Goss understands the benefits of economies of scale in the financial planning business. By preaching that message to breakaway brokerage reps, he has grown his business to well beyond $3 billion in assets less than four years after his...

Envestnet looking to support breakaway advisers

March 28, 2018

Envestnet Tamarac is getting into the business of supporting breakaway advisers. On Wednesday, the company launched an offering it calls Quick Start that will get new registered investment advisers up and running on the Tamarac portfolio management...

Merrill Lynch loses $1 billion Georgia team to RIA channel

March 26, 2018

A group of four advisers who managed $1 billion at Merrill Lynch in Savannah, Ga., have left to form Sound View Wealth Advisors, a registered investment advisory firm. The principals of the new firm, which was launched with the help of Focus...

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