Greg Fink: We went through a process at Fidelity to make sure Triad and parent owner (Ladenburg Thalmann & Co. Inc. of New York) was OK with us breaking away.

Three advisors in Atlanta break away with $1.8 billion and make seven-year Fidelity relationship manager their CEO -- whose duties now include managing a lawsuit from former IBD

ACG Wealth replaced Triad with their own broker-dealer and allegedly depended on a verbal assurance that may be tested in court

an hour ago by Janice Kirkel

Brooke's Note: The RIA model is so powerful that sometimes it seems to make all things possible -- like taking all the parts you liked from your old life to your new life and leaving the parts you disliked behind. And if you like none ...

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Alex Benke: The majority of clients are in auto-mode.

Betterment rolls out free baseline human advice to all customers with a smartphone and no RIA and cuts price on premium advice offer

The New York-based robo-advisor will use CFPs to answer advice-related questions over a dedicated chat app as part of the 25 basis points paid for asset management

July 26, 2017 — 1:01 PM UTC by Brooke Southall


Brooke's Note: Most of us hear the words "human financial advice" and it brings to mind dizzyingly high payrolls. But what if that presumption isn't entirely right? It would be ironic if a robo-advisor helped reinvent the way human advice is dispensed -- on an ...

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Rudy Adolf: In the second decade of our growth we expect the number of our deals to continue to increase as we pursue additional partnerships with the highest-caliber firms in the industry.

Bypassing PR Newswire, Focus Financial reports purchase of $1.9B AUM RIA and it gets curiouser from there

The New York-based roll-up buys Brownlie & Braden Advisors LLC no asset-based fees, no photos of principals and a big-time second-entity sister firm

July 24, 2017 — 11:48 PM UTC by Brooke Southall

Brooke's Note: One of the questions sources asked when Stone Point bought Focus Financial in lieu of an IPO was what it would do now that the man really in charge was Chuck Davis, the highly prominent private equity guy and amigo of KKR ...

3 Comments
Ron Rhoades: Mr. Scaramucci likely saw the Department of Labor regulation as a threat to his firm.

In letter to RIABiz, Ron Rhoades reacts to the ardent DOL rule detractor commandeering the White House microphone

Citing the new voice of the White House as 'contrary' in his comments regarding the Labor Department's efforts to shift Wall Street's culture and ways, the fiduciary scholar beseeches Scramucci to think it over

July 22, 2017 — 12:02 AM UTC by Guest Columnist Ron Rhoades

Brooke's Note: I awoke this morning to the news that Andrew Scaramucci, first introduced in these pages as a surprise no-show at last December's MarketCounsel Summit; the fellow who equated the DOL rule to the infamous Dred Scott decision; and who was then  ...

1 Comment
Anthony Scaramucci: I believe that you have to subordinate yourself to the greater good of the team.

Anthony Scaramucci tweets his way to Donald Trump's side after flaming out of investment business

After jumping into the fray to defend Donald Jr. on Twitter, 'the Mooch' -- once (maybe twice) fired as a Goldman Sachs broker -- will craft communications for Donald Trump as financial and legal smoke threatens to burst into flame

July 21, 2017 — 11:45 PM UTC by Brooke Southall

Brooke's Note: It took the media exactly one weekend to catch on to what the RIA business and Wall Street have known about Anthony Scaramucci for at least a year.​​​​ Maureen Dowd of the New York Times was particularly -- even alarmingly -- incisive, capturing Scaramucci in two sentences ...

3 Comments
Scott MacKillop: Much of successfully completing these long hikes is mental rather than about pure physical strength.

Skip Schweiss and Chip Roame lead risky, if risk-managed, hike of RIA types on famously perilous trail -- with danger striking right on schedule

Wild boar, spinner dolphins and Portuguese men o' war looked on as we essayed Hawaii's Kalalau Trail, finding out firsthand why it's called the 10th-most dangerous hike in America

July 21, 2017 — 6:21 PM UTC by Guest Columnist Skip Schweiss

Brooke's Note: In a merciful act of inclusion I often get sent the early emails in the planning stages of these Skip and Chip excursions. This year I saw "Hawaii" in the email headers and thought that even these guys couldn't turn Hawaii into a death ...

1 Comment
Mike Sha (center): We’re not gonna disrupt a crusty industry. Discretion is the better part of valor for start-up people.

Schwab CTO's speech in NYC spotlights an RIA business addicted to innovation – with no fresh fix in sight

Timothy Heier set the lower-morale tone at In|Vest 2017 of a B2B industry waiting for a Mark Zuckerberg to push it forward again -- perhaps with artificial intelligence as the final frontier

July 20, 2017 — 9:37 PM UTC by Janice Kirkel

Brooke's Note: Conferences have many things going for them but not creativity and inspiration. The In|Vest conferences offered a chance to break out of the box by featuring thinkers and doers of innovation ahead of the asset monarchs and market- share mavens. The 2015 ...

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