HighTower dangles array of hedge funds to lure breakaways
Wirehouses have nothing on independents when it comes to access to hedge funds, firm says citing three-year study
Infamous stockbroker resolves civil suit stemming from violent tirade -- the apparent final chapter in an incident that went viral and forever branded him the 'Fairfield Smoothie Guy'
Broker Jim Iannazzo went all out with high-powered attorneys and slick Las Vegas crisis pr team to limit the damage from his actions, but whether he can ever live down the incident remains to be seen.
September 1, 2022 – 5:11 AM
Envestnet just named an ESG head to meld 'wellness,' 'The Intelligent Financial Life' and 'sustainable investing' into a single nirvana -- that starts outside of the product realm
Ron Ransom earned CEO Bill Crager's trust as chief business development officer and now will define how Envestnet conducts itself as a global citizen and vendor of wellness.
July 27, 2022 – 2:27 AM
UBS bets its 'wealth' future on ex-Schwabbie Naureen Hassan, a corporate digital A-lister, who analysts give a fighting chance to transcend PaineWebber's ossified culture
Still a $2-billion cash-flow cow, the Swiss bank's 6,000-broker, US-based wirehouse is milking aging broker relationships with aging investors but needs a new kind of human presence, empathy, mindset and smarts to draw in Gen Z.
July 16, 2022 – 1:35 AM
Envestnet and Edmond Walters end odd couple 'Apprise' relationship with buyout, but leave open the door to jointly pursue RIA-to-entrepreneur dashboard... later
The MoneyGuidePro owner and eMoney founder execute clean break with Apprise IP rebranded as 'Wealth Studio.' Walters off to the races with a startup and vague promise to collaborate later.
April 6, 2021 – 12:50 AM
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Top Executive: Jud Bergman
Is there different pricing for the RIA channel? I always thought that a good percentage of the 2/20 approach went back to the B/D.
Hey Paul, That’s a great question. Eliott wouldn’t get into specifics of the costs, but did say the cost in the wirehouse arena is about the same as it would cost in the independent channel.
So it sounds like it’s the same old 'pay to play’ arrangement that kicks back soft dollars to the B/D. It would be great to offer clients a solution without the conflicts of interest.
Elmer Rich III
Interesting marketing case study. So: – 7% of assets of are in alternatives – Yet, a majority of the differentiation presentation is around access to what will likely be only < 10% of a client’s allocation and not anything close to a the core investments. So effectively 90% of the strategic differentiation presentation is based on < 10% of the AUM potential. A revised Pareto Principal (80/20).
We are going to propose that the logic behind this strategy is driven by: – Advisors client retention fears – The belief that alternatives are necessary for client retention – Because alternatives are mainly understood by clients, and perhaps advisors, as being a “safe” alternative to protect them from the recently experienced severe drops.
However, we have to consider these hard realities: – Alternatives are diverse kinds of investments – None are guaranteed to avoid losses, to the contrary – The only thing that goes up in a down market is correlations among investment vehicles
So are advisors serving themselves and their clients with a rush to alternatives or just reacting to recent traumatic experiences — like their clients? Worthwhile question to ask.
Your comments are well thought out. I think A.I. is a reasonable asset class to consider having exposure to… my comment was more towards the lack of transparency regarding the fees. As an RIA I must try to find my client the best possible pricing available and it doesn’t appear the HT model is any different from a wirehouse offering.