RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

LPL, Raymond James and TD data -- and Walt Bettinger, Mike Durbin comments -- reveal rotten first quarter for breakaways

Mark Casady's explanation is hard to swallow for Danny Sarch, Mindy Diamond; Bettinger inveighs against 'rat trap' of checkbook recruiting; Ryan Shanks says advisors are "numb to the chaos"

Author Lisa Shidler April 26, 2013 at 5:17 PM
Admin:
no description available
Mark Casady: When our same-store sales are up, then recruiting is typically down.

Stephen Winks

Stephen Winks

April 26, 2013 — 7:52 PM

Could the slowing down in recruiting have anything to do with there is little actual custodial and IB/D support for advisory services for brokers who wish to become advisors. If so, why go to wirehouse lite, when wirehouses don’t support advice either. And wirehouses write BIG checks for success.

The industry is starving for advisory services leadership that is unambiguous in supporting brokers and advisors being accountable for their recommendations and their associated ongoing fiduciary responsibilities for every thing they have ever sold and all client holdings including inherited assets. Simply acknowledging fiduciary standing and having the ability to prove one is acting in the consumer’s best interest, will restore honor and integrity which in turn restores the trust and confidence of the investing public.

There is a leadership vacuum the SEC is trying to resolve, which when filled will determine the winner of the recruiting wars..

SCW

Jeff Spears

Jeff Spears

April 26, 2013 — 10:06 PM

The recruiting environment does feel bad.
When I feel this way it usually signals a bottom.
Last time I had this feeling was March 9, 2009….:)
Have a great weekend

http://olsztyn-holandia.pl/members/g2tybbbm7.html

http://olsztyn-holandia.pl/members/g2tybbbm7.html

June 26, 2014 — 5:22 AM

You’ll find a huge selection of Apple Bottoms website gifts to give to virtually everyone which you know because there are so a lot of wonderful clothes items and components. You are able to do your entire holiday gift shopping though sitting in your chair and clicking the mouse a couple times. It’s so simple to utilize and quick to shop along with the Apple Bottoms website. The Apple Bottoms website has classy tops, stylish necklaces, trendy sneakers, earrings, hip hop shorts, fashionable skirts, vests, handy gloves, bracelets, chic pants, stylish denim and far more. Apple Bottoms Website Store

http://earthtouchdesigns.com/page11.php

http://earthtouchdesigns.com/page11.php

June 26, 2014 — 6:50 AM

You will discover numerous components to talk about if you need to determine effects quick, nonetheless if you would like to be sure you’re teaching in your max opportunity, make sure you won’t at any time neglect these 3 tips.


Related Moves

Chuck Schwab reveals Part B, doubling-down on Walt Bettinger by making him co-chair, a day after Part A -- wagering $15 billion from the Schwab corporate treasury on the CEO's future leadership

The 84 year-old founder's elevation of his 61-year-old protege may foretell bigger fireworks from Rick Wurster who recently took over many of Bettinger's CEO duties, one executive recruiter says.

July 30, 2022 at 12:41 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

Fidelity Institutional looks like a big TAMP after Mike Durbin removes last internal walls between products and advisors after 'meteoric' 2019 leap; two Fido RIA sales legends depart amid the shift

Rich Policastro and Tom Valverde are out after Fidelity Custody & Clearing assets leap to $2.6 trillion AUA, restructuring gets the credit -- and so restructuring gets extended.

March 13, 2020 at 10:36 PM

Joanna Rotenberg is departing Fidelity Investments after only two years, writing that she traveled 20,000 miles and successfully split her retail division into wealth and brokerage units

At her hire, analysts were adamant the head of Fidelity retail had 'big shoes to fill' to replace legendary Kathleen Murphy and her task of 'digitiizing' retail was no small ask

December 16, 2023 at 2:22 AM

See more related moves

Mentioned in this article:

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

Raymond James Financial Inc.
Asset Custodian
Top Executive: Bill Van Law

Finetooth Consulting
Consulting Firm
Top Executive: Ryan Shanks

Diamond Consultants
Recruiter
Top Executive: Mindy Diamond

Private Advisor Group
Specialized Breakaway Service
Top Executive: Frank Smith, Chief Executive Officer

FA Match
Consulting Firm, Specialized Breakaway Service, Recruiter
Top Executive: Ryan Shanks



RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo