How HighTower's executive shuffle, kicking CEO Elliot Weissbluth upstairs, opens door for new talent and paves way for Thomas Lee-fueled acquisitions splurge

Since Thomas H. Lee's $350 million February purchase of HighTower, the firm has sought ways to separate dealmaking and operational duties, but recruiting goes to outsourcer and M&A goes to Marc Cabezas.

August 20, 2018 — 7:57 PM UTC by Oisin Breen

Brooke's Note: Private equity can be expected to put square pegs into square holes. Elliot Weissbluth is a charismatic leader and dealmaker. He struggled more as day-to-day CEO, especially after he lost his president a year ago. See: Elliot Weissbluth's second in ...

Morningstar causes uproar with new study that upends everything RIAs assumed about retirement planning, and it all comes down to a number

In July, Morningstar published its latest retirement report, and its author David Blanchett poses tough questions, suggesting advisors risk “havoc” when predicting retirement. But the industry claims it's well prepared.

August 17, 2018 — 8:51 PM UTC by Oisin Breen

David Blanchett's new Morningstar Inc. July report is provoking a strong reaction among RIAs who take it on the chin from the study's conclusion that most advisors are consistently wrong when it comes to retirement planning, all because of a single number. 

Citing studies ...

Cresset cracks the family office market with a unique proposition; a suite of touchy-feely services that go beyond money management and help clients manage their lives

Cresset, guided by two savvy venture capitalists. is aiming to build the next-generation multi-family office on an independent, employee- and client-owned platform

August 15, 2018 — 4:42 PM UTC by By Lisa Shidler

Chicago-based Cresset Capital Management, founded by private equity entrepreneurs Eric Becker and Avy Stein, just launched a family office in San Francisco that will include touchy-feely services that most other family offices don't offer.

Cresset ...

After RIA private equity hot-shot Genstar's $1.7 billion purchase of ugly duckling Cetera, Robert Moore plans to take on LPL--not with acquisitions, but a recruitment storm

Genstar bought a majority share in Cetera in July for a rumored $1.7 billion; now Genstar MD Tony Salewski and ex-LPL President and Cetera CEO Robert Moore have put ramping up the rep count front-and-center in their plans to turn the long-troubled IBD ugly duckling into a market giant at LPL's expense.

August 15, 2018 — 12:35 AM UTC by Oisin Breen

With fresh capital, new partners and a radical new plan to turn reps into owners, ex-LPL chief-in-waiting and Cetera Chairman and CEO Robert Moore is no longer playing the niche game.