What went down at Barron's Top Independent Advisors Summit in the Arizona desert
Many of the biggest and best RIA stars showed up and put Bernie Clark, Mike Durbin, Tom Nally, Mark Tibergien, Bill Dwyer, Charles Goldman and Barnaby Grist in one room
Carson Wealth Management|
Stark and Stark|
Mark Tibergien sets up Ben Harrison to challenge Schwabitrade with a $150 million cut to Pershing's minimum and millions more to develop Veo-busting technology
The CEO suite hand-off in Jersey City pulls a trigger on a plan to bypass Fidelity's and eventually Schwab's custody units by luring disaffected RIAs.
March 11, 2020 at 7:58 AM
Cetera hiring Mike Durbin as CEO -- overseeing its existing 'CEO' -- completes Genstar's stellar HR week after it put Charles Goldman atop Orion's board -- with 'exponential' growth in mind for the 'middle market' companies
The Los Angeles broker-dealer nabbed the Fidelity legend to take its $118-billion AUM and 8,000 advisors higher, just as Orion -- also majority owned by Genstar -- makes a similar move.
May 18, 2023 at 1:46 AM
Pershing restores Ben Harrison as sole heir to Mark Tibergien -- for now -- but solo tenure may be temporary, with other top talent in the wings
Co-Head Maura Creekmore's departure leaves Harrison at the top by default, but the company is mum on future hiring and how much RIA autonomy gets sacrificed in name of 'convergence.'
January 19, 2023 at 3:31 AM
Fidelity Investments loses Kathleen Murphy who largely caught up Fido to Schwab (near $4T) on the retail side by reversing net promoter scores
The 'no whining allowed' leader of the Boston giant's retail business, who oversaw $2 trillion in net new assets, was ready to exit but hung in through a year dominated by COVID-19 challenges
January 23, 2021 at 2:02 AM
See more related moves
RIA-Friendly Broker-Dealer, RIA Welcoming Breakaways, Advisory Firm
Top Executive: Dan Arnold
Stark & Stark
Legal Services for RIAs
Top Executive: Tom Giachetti
Top Executive: Tom Nally
Pershing Advisor Solutions
Top Executive: Mark Tibergien
Top Executive: Ron Carson
Cetera Financial Group
Top Executive: Larry Roth
Elmer Rich III
It would be productive if the industry was, and it’s leaders were, mature enough to not make conferences just about sales pitches. Also, having presentations based on independent and objective evidence and research would be useful.
Of course, the hype, “happy talk” and self congratulations are just tactics supporting non-stop sales pitches.
Imagine if doctor’s professional conferences were similarly self- congratulatory and sales-driven? What would patient’s think? What would our medical care be like? That would be scary.
There is just a baseline inability to face and discuss substantive matters at financial services conferences. For example, so called “best practices.” What is the evidence, research supporting any of these claims? None. It’s just story-telling, and anecdotal experience. Guess work and opinions — at best.
Does anyone offer independent validation that their latest products and offerings work? No.
But ours is a young profession. It will take a few decades to reach maturity — hopefully. In the meantime — ho hum.