A mini-Merrill springs up with its own broker-dealer and plans to grow
Two former Merrill higher-ups brought aboard two teams of Merrill brokers -- and they're just getting started
John and Rob learned what works and what doesn’t work with Clearbrook, terribly important as many of their hard learned lessons are being repeated by other notable roll-ups which simply extrapolate the old brokerage business model.
Creating a large scale preemptive advisor value proposition around prudent process relative Merrill’s product distribution focus and reticence to support new advances in advisory services technology, is still the unfulfilled promise of this new generation of advisory firms.
John and Rob get it, and once established look for amazing things to come from Snowden based on their enthusiastic embrace of disruptive innovation to which Merrill can not respond.
Do you know what Clearbrook was known for in the marketplace and what about it gives Snowden its own angle to approach the market?
Not many start-up firms like Clearbrook can get a $50 million committment from the top private equity firm in the world. Very credible, very wise, understands the advice business like no other roll up, and now has no limiting factors that constrain innovation. I can’t name one firm that that does not have constraints that adversly affect a professional expert approach to advisory services. Particularly when it comes to conflict of interest management, trade execution, the free flow of data, modern approaches to portfolio construction, and modernity achieved through advanced technology tied to work flow management. All lessons learned at Clearbrook yet evident in every roll up in the business..
Snowden might be the first to break the mold..
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 at 1:35 AM
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 at 5:11 AM
Oleg Tishkevich builds instant McKinsey-killer in RIA consulting by offering gigs and equity to six solo stars, but good luck managing egos and economics, says someone who's been there
The restless Invent.us founder names (thus far) Tim Welsh, Suzanne Siracuse, Gavin Spitzner, Mark Hollingsworth and Brian Bleasdell as owners in exchange for being on call to tackle big gigs as a superteam
September 10, 2019 at 10:52 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
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Top Executive: Timothy D. Welsh