RIABiz

Scott MacKillop: Anyone ever involved in fundraising for a new venture knows how time consuming and emotionally draining it is. Now that we are financially secure for the foreseeable we can focus on the positive aspects ... I have a smile on my face again and my creative juices are flowing.

Liberated by an Envestnet deal and a growth upsurge, Scott MacKillop isn't ho-humming a rescue infusion of $1.5 million after a two-year 'Perils of Pauline' existence as the lonely flat-fee SMA firm

First Ascent's CEO shares the joy of second funding round after first-round friends and family were asked to extend support beyond what was on the whiteboard

16 hours ago by Oisin Breen

Brooke's Note: There are low fees, high fees, hidden fees, transparent fees, performance fees and maybe a few others. What they all share is a bias against people who invest larger balances. The XY Planning Network is countering this trend on a larger level ...

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New Moves in the Biz

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Raymond James promotes yet another woman to a powerful position -- this time an alum of Duke, Columbia by way of Goldman Sachs -- to head the very LPL-intensive Northeast corridor

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RIA in a Box gunning for top-notch staff as it readies for Aquiline-fueled roll-up binge, targeting old-school, mom-and-pop compliance competitors

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361 Capital has eight-year asset rise from $100 million to $1.7 billion then makes two people moves after net inflows slow to trickle

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Emigrant Bank 'doubles down' to send Mark Hurley packing and fire up Fiduciary Network, its RIA deal machine

Mike Durbin: We have a chip on every square on the table.

Mike Durbin speech spellbinds; David Kowach prompts head-scratching and Brian Hamburger-Dale Brown showdown has one tense moment at Market Counsel Summit

The Fidelity exec shows forward thinking; the Wells Fargo exec talks branded RIAs and the cage match ... not so much

December 8, 2018 — 5:06 AM UTC by Graham Thomas

The Market Counsel Summit had many recognizable speakers in its line-up and one that left RIA audience members truly impressed and grateful -- with an oft-contrarian RIA view.

A prepared and polished Mike Durbin convinced a skeptical Las Vegas audience of peers and clientele that his firm is ...

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Colleen Bell: “We see this as an opportunity”

Lisa's Bits: Commonwealth and Cambridge jump into RIA custody game bigger; Goldman Sachs buys $600-billion 401(k) RIA as Wells Fargo reportedly eyes 401(k) exit ; Mercer does four deals in one month; LPL slashes an important advisor fee; A $13 billion advisor's fate is uncertain

Commonwealth launches its own RIA unit, Mercer goes on a one-month buying spree; Wells Fargo seeks to escape retirement low margins and Goldman buys in; Cresset looks to reinvent itself,

December 7, 2018 — 6:36 PM UTC by By Lisa Shidler

Brooke's Note: For several years, RIA pundits have predicted a wirehouse would become an RIA custodian. The truth is: All wirehouses do some RIA custody already -- especially Merrill Lynch and Morgan Stanley. Wells Fargo now has a testing paw in the RIA stream So ...

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How satisfied are your most valuable clients? They may be expecting more than just advice.

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Raef Lee: If the advisor is willing to put the time and effort in, we’ll cover the cost … [and] we have a formidable platform in place to do all the heavy lifting.

SEI targets the 60% of its book that are planning virgins with Advizr's 'lite' planning software -- an MRI on held-away assets and way to boost SEI products sales

The Oaks, Pa.-based TAMP plans is to lure reps with the 'nibbling' software maker it part owns with a buy-one-get-one-free coaching and planning deal

December 5, 2018 — 11:03 PM UTC by Oisin Breen

Brooke's Note: One of the knocks on the old-line stockbroker was that he (yes, I'm envisioning a "he") did everything a little too piecemeal. He'd do a slug of investing here and offer another dose of financial planning advice there as he ...

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David Lau: I don’t believe any of these moves independently are major. What is major are the moves as a collective. Allianz is clearly placing a lot of focus on becoming a big player in the RIA space

Decades-old stench of annuity sales and deception hangs heavy, but very 2018 efforts by DPL, Nationwide, Allianz and others offer whiff of hope of cracking the RIA market

As RIAs kick stockbroker butt, old-line insurers like Nationwide are taking the RIA fee-based and open-architecture model seriously -- because they have to -- and target the $2 trillion fixed-income aspect of RIA portfolios.

December 5, 2018 — 8:40 PM UTC by Oisin Breen

Brooke's Note: It is surprising on one level just how much RIAs cringe at the word "annuities." After all, no other product short of an old-line defined benefit program provides the kind of sleep-at-night income security of one of these much maligned products. The ...

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Burt White: We'd love to integrate annuities.

LPL Financial's $28 million cash purchase of AdvisoryWorld solves one big problem: Now it can make sure the proposal software includes annuities in its proposals

The Fort Mill, S.C.-based IBD is the No. 1 annuity distributor in the United States but it still cranks out proposals focused on stock/bond allocations

December 4, 2018 — 10:46 PM UTC by Brooke Southall

Brooke's Note: One thing I focus on in this article is Burt White and the role he is playing at LPL Financial. Here is a guy who came to the firm in 2007 and quietly rose to prominence with lots of bigger name executives. Dan Arnold ...

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Avy Stein graduated Harvard Law, made his fortune in private equity, became a philanthropist and now pours efforts into Cresset Family Office.

In historic UHNW talent grab, Cresset Capital Management makes three more head-turning poaches -- with Deloitte, Wells Fargo and Abbott Downing pedigrees -- in its bid to create a national family office

The Chicago-based RIA seeks to better serve the heirs-to-be as part of a broader strategy to shake the cobwebs out of a stodgy segment for the 1%

December 3, 2018 — 9:41 PM UTC by By Lisa Shidler

Brooke's Note: The fool's gold of the RIA business, ironically, is the market of $50-million-plus accounts from America's wealthiest families. Hook a whale with your fishing rod and you may end up on the sea floor. Attempts to create national ventures that tackle uber ...

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Liberated by an Envestnet deal and a growth upsurge, Scott MacKillop isn't ho-humming a rescue infusion of $1.5 million after a two-year 'Perils of Pauline' existence as the lonely flat-fee SMA firm

New Moves in the Biz

Mike Durbin speech spellbinds; David Kowach prompts head-scratching and Brian Hamburger-Dale Brown showdown has one tense moment at Market Counsel Summit

Lisa's Bits: Commonwealth and Cambridge jump into RIA custody game bigger; Goldman Sachs buys $600-billion 401(k) RIA as Wells Fargo reportedly eyes 401(k) exit ; Mercer does four deals in one month; LPL slashes an important advisor fee; A $13 billion advisor's fate is uncertain

How satisfied are your most valuable clients? They may be expecting more than just advice.

SEI targets the 60% of its book that are planning virgins with Advizr's 'lite' planning software -- an MRI on held-away assets and way to boost SEI products sales

Decades-old stench of annuity sales and deception hangs heavy, but very 2018 efforts by DPL, Nationwide, Allianz and others offer whiff of hope of cracking the RIA market

LPL Financial's $28 million cash purchase of AdvisoryWorld solves one big problem: Now it can make sure the proposal software includes annuities in its proposals

In historic UHNW talent grab, Cresset Capital Management makes three more head-turning poaches -- with Deloitte, Wells Fargo and Abbott Downing pedigrees -- in its bid to create a national family office

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