Brian Cooke with brother Chris: Normally when you leave it’s in the middle of the night and not out the front door.

Wells Fargo $1.7 billion 'Profit-Formula' group executes breakaway with help and of ... Wells Fargo

Cooke Financial Group of Indianapolis left the wirehouse in a broad daylight, front door exit with some diligent help of from their bosses

December 2, 2016 — 12:19 AM UTC by Janice Kirkel

Brooke's Note: The broker Protocol is a humane and good natured agreement in an industry where those qualities can be in short supply. But if you break away to become an RIA under the Protocol, you still need Shawshank Redemption-level escape skills to get to the other ...

4 Comments
Chris Paulitz warned of “untold liability exposure and class action lawsuits"

Critic calls 'laughable' FSI study that shows only 14% of advisors want DOL rule to stay

The lobby group that sued to stop the DOL rule surveyed 1,300 member stockbrokers -- of whom 71% voted for Donald Trump

December 1, 2016 — 8:43 PM UTC by Irwin Stein

Financial advisors -- that's FAs as defined by FSI -- despise Hillary Clinton but they loathe the DOL rule, finds the Financial Services Institute Inc. in its newest study.

A full 86% of stockbrokers want President-Elect Donald Trump to repeal the DOL rule that radically ups the ...

6 Comments
Dirk Quayle: We can tell them: we can build the last mile to the investor.

NextCapital poaches great Aon Hewitt hunter as it tracks big institutional game terrain

Matt Clink, 39, will be the 401(k)-geared digital advisor's first CIO after bagging RBC and with three more institutional beasts in its sights

December 1, 2016 — 5:35 PM UTC by Brooke Southall

Brooke's Note: If I had a nickel for every time I have heard the pious proclamation that a company is bringing institutional quality investing to individual investors, I could buy a couple large bags of candy.  And that is what I am hearing again with ...

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Aaron Klein [with chief of staff Evan Pope]: My Risk Number is 88 and it’s probably a pretty good guess as to why we waited so long before raising capital!

How Aaron Klein plans to make Riskalyze the epicenter of the RIA business with $20 million of fresh private equity money

The CEO startup already has 15,000 users but now he sees the Risk Number as the skeleton key for unlocking robo potential by eliminating two-tier, two-business problem for B2B robos

November 30, 2016 — 10:08 PM UTC by Brooke Southall

Brooke's Note: People in California feel about as fuzzy toward Sacramento when it comes to its ability to produce new technology as Nathanael  did toward Nazareth. Sacramento is government -- leave progress to the Silicon Valley folks. But this scripture keeps getting proven wrong in the RIA ...

1 Comment
Sallie Krawcheck: I thought we had left sexism behind us by the time I was in more senior roles. After all, we had complaint hotlines and diversity plans.

How Donald Trump jolted Sallie Krawcheck out of sexism denial, maybe, and the startlingly retro remedies she prescribes for young women

'Getting it' before and after Trump's upset victory takes on different casts, but the 'real key' to gender equality remains the same: get rich by investing well, says Krawcheck

November 29, 2016 — 8:16 PM UTC by Columnist Dina Hampton

Brooke's Note: Access Hollywood's notorious tape of Trump changed Sallie Krawcheck's views on sexism and its impact on women in today's workplace so profoundly that she was moved to write an essay to young women -- women she hopes will invest on her website. Of course, looked at ...

0 Comments
Craig Gordon: I have seen significant advancements and a huge commitment by RBC.

Once RBC's RIA face, Craig Gordon returns to the Minneapolis-based custodian psyched about City National purchase and NextCapital deal

Gordon is betting his career on the premise that RBC has gotten its act together in the two years he was away

November 28, 2016 — 8:58 PM UTC by Sarah O’Brien

Brooke's Note: RBC has gone hot and cold on RIA custody business. Its interest seemed to reach a zenith in 2010 when it bought the old RIA custody unit of Bear Stearns from J.P. Morgan. Royal Bank of Canada is hustling to become an ...

0 Comments
[Brian Hamburger and] Marc Cohen: We nail people down by text message.

MarketCounsel texts like crazy to get and keep its white hot speakers, Priebus and Scaramucci, nailed down

The speaking time slots for these Trump power brokers are elusive but the boys are coming to Brian Hamburger's Florida event -- perhaps with knives drawn for the DOL rule

November 25, 2016 — 8:55 PM UTC by Janice Kirkel

Brooke's Note: How do you get something really impressive and power-bending accomplished? You bear down like all holy hell but you do so in a spirit of friendship and flexibility but with all technology that can be brought to bear. We never thought it was an accident that ...

0 Comments
Nobody's seriously questioning whether we should share Thanksgiving with relatives whose views clash with ours.

Why I am incautiously thankful on Thanksgiving eve -- and especially with regard to the RIA business

The election and the on-again, off-again lurch toward a more DOL-rule-compliant financial advice world are bruising but the process itself is still doing its job

November 23, 2016 — 9:36 PM UTC by Brooke Southall

My mother, my siblings and their families will gather for Thanksgiving around an old table in Freeport, Maine.

Sadly, I will miss it. Yet I'm looking forward to tomorrow.

For about a decades-worth of Thanksgivings, I have been taken in by an old cycling partner ...

0 Comments
Abby Johnson takes charge at a buckle-your-seat-belts moment for the closely held family trust.

Abigail Johnson to succeed her father as head of the board -- but will her leadership style resonate in a company seeking a new true north?

CEO since 2014, 'Abby' now heads a 401(k) king amid DOL hell and a mutual fund leader as ETFs take over at a giant company at a time when small and agile wins the race

November 22, 2016 — 7:17 AM UTC by Janice Kirkel

Brooke's Note: That was fast. Two years went by like nothing since Abby Johnson grabbed the CEO scepter with that absent stare that obscures what thoughts are getting thunk behind the eye sockets. We almost haven't had a chance to think about how to rate ...

0 Comments
If Ron Carson were to leave LPL, it would be in keeping with his talk about being the disrupter rather than the disruptee.

Almost-confirmed reports had Ron Carson bolting LPL for Cetera as part of a $35-million shake-up of his RIA; 92 hours later the silence is deafening

The $2.6-billion AUM defection by the LPL rep icon was widely reported, tacitly confirmed, then unconfirmed and remains in a cone of silence

November 21, 2016 — 11:56 PM UTC by Janice Kirkel

Brooke's Note: It is not unusual for stories to be leaked to those of us who cover the RIA and IBD beats. Typically, however, the tipster chooses one publication to bestow his or her inside information upon. In this case, however, the leaking was widespread. A whole ...

0 Comments

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