News, Vision & Voice for the Advisory Community


Ron Carson launches roll-up/TAMP-like venture with Envestnet, TD Ameritrade and Advizent as puzzle pieces

The biggest of LPL's affiliates shows a walk-before-run approach to inorganic growth

Author Kelly O'Mara September 24, 2012 at 5:15 AM
no description available
Ron Carson: There was a lot more to [acquisitions] than we thought.

Stephen Winks

Stephen Winks

September 24, 2012 — 7:43 PM

Carson and Duran pose an interesting approach in resolving the challenge brokers face in transparency, portfolio construction and the broker’s well documented under performance.

The outsourced portfolio construction/management solution Carson represents is sound, Duran affords scale and a larger operations support capacity as well. But, portfolio construction and management still leave significant and complex fiduciary duties for the broker to fulfill on their own.

Given the technological advances in Asia which make continuous comprehensive counsel (required for fiduciary standing) possible in ways not possible here in a brokerage format, Carson and Duran may be at the literal beginning of the emergence of an advisory services format, seperate and distinct from a brokerage format, that finally brings fiduciary standing within reach of brokers.

A lot of work is required to make advice safe, scalable, easy to execute and manage as a high margin business at the advisor level at a cost cheaper than a packaged product.


Brooke Southall

Brooke Southall

September 24, 2012 — 9:44 PM


Can you write a column for us bringing us up to speed on what’s happening in Asia? I hadn’t heard that but it sounds interesting.



Stephen Winks

Stephen Winks

September 25, 2012 — 12:14 AM


But I am tied up for the next week.




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Mentioned in this article:

LPL Financial
RIA-Friendly Broker-Dealer, RIA Welcoming Breakaways, Advisory Firm
Top Executive: Dan Arnold

TD Ameritrade
Asset Custodian
Top Executive: Tom Nally

United Capital Financial Advisers
RIA Welcoming Breakaways
Top Executive: Joe Duran

Envestnet Inc
Top Executive: Jud Bergman

Carson Group
Consulting Firm
Top Executive: Ron Carson

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