RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

HighTower wins its first-ever existing RIA after offering the breakaway a new way to do business -- and a chat with David Pottruck

Three Bridge Wealth Advisors surpised itself by giving up its 'sweet' freedom to regain the advantages of scale

Author Brooke Southall July 23, 2010 at 3:54 AM
Admin:
no description available
Brett Sharkey: Quite honestly, I was not interested in the idea at first. Look! We have done it; we are out [of Smith Barney]. That taste of freedom is sweet.

Jeff Spears

Jeff Spears

July 23, 2010 — 1:43 PM

This is a significant transaction that is a direct shot across the bow to United Capital and other consolidators. It also provides another good option for the large number of RIAs that are considering a merger.


Related Moves

Oisín's Bits: Wealthfront drops old mission statement, declares war on institutions and emphasizes banking future • Seeking Utah charter, Edward Jones may become largest bank in US by branch count • After Advent chief leaves, Black Diamond head steps up

Andy Rachleff cans the old 'democratizing' mission statement at his robo; The 14,200 one-man Ed Jones branches may become branch banks; Steve Leivent consolidates power at SS&C.

July 3, 2020 at 1:12 AM

Addepar hires Advent genius then launches 'Advent Converter' to court the RIAs still on Axys and APX ; PortfolioCenter 'easy button' comes next

The tactic by the Mountain View, Calif. firm and Advent co-founder and code avatar Steve Strand comes a decade after Orion, Black Diamond and Tamarac began feasting on the legacy corpses, but Addepar insists meat remains on the bone.

March 3, 2020 at 5:05 PM

A 20-year Merrill Lynch veteran got Sanctuary Wealth to $10 billion in AUA in 15 months with no outside capital and no time in bed: 'Nobody's slept since April'

Jim Dickson also recruited HighTower talent, Amit Dogra, to bring the old HighTower brokerage model and execute it as HighTower veers toward buying RIAs

August 15, 2019 at 7:58 PM

Pete Giza and Damon Deru go for Holy Grail of portfolio rebalancing with software that shuffles stocks, bonds... and asset classes; Believe it?

The RedBlack and TradeWarrior executives see old systems as 'archaic' yet know that the Black Diamonds, Morningstars, Orions and Tamaracs see rebalancing as a loss leader

June 11, 2019 at 9:49 PM

See more related moves

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo