First Republic buys an eight-year-old RIA for $115 million
The BoA spin-off gets Paul Tramontano's Constellation Wealth Advisors and its $6.1 billion of assets
Exceptional wirehouse talent with billions under advisement have outgrown the brokerage format. There is not much their b/d can do for them and in fact it impedes their value proposition, cost structure, margins and professional standing. So what keeps great talent from becoming independent? There are very few places to go that are additive.
Brian Riley joining Republic played a major role in the Republic Value Proposition as he could articulate through his initiative all the frustrating advisory services imperatives that were not possible in a brokerage or roll up format. A true expert advisory services alternative does not exist for top wirehouse talent. Roll-ups are principally an extrapolation of conventional brokerage when an advisory services model is in order and in much demand. The mile stone here is that no one any longer aspires to the outdated brokerage business model, it is in the enlightened best interest for all to get serious about advisory services and as Jamie Dimon counsels make it politically expedient to ask and resolve advisory services questions in the best interest of the investing public. That is where the free market takes us and where we all are best served.
Shirl Penney hands over 'front end of the house' to Andrew Marsh as Dynasty reboots -- post-$100-million raise, post-IPO withdrawal and post-Schwab partnering
The Dynasty CEO is handing over sales, custody relations, breakaways and M&A sales to the un-retired Canadian -- and wildly promoting from within.
September 21, 2023 at 1:53 AM
Executive shake-up and staff hiring binge change Dynasty Financial Partners' talent mix, with Todd Thomson, Scott Welch, Ed Friedman and 12 women as headliners
The St. Petersburg-based producer of 'synthetic RIA scale' will continue to aggressively hire and adjust its talent ranks as it readies for next growth push.
September 24, 2019 at 2:02 AM
Goldman Sachs-Creative Planning deal is bleeding defectors -- 16 more last week, report says -- auguring a 'potential disaster,' analysts warn
Dozens of former 'United Capital' advisors are fleeing at once, but Peter Mallouk is still battling to keep them, and Goldman Sachs may play legal hardball, sources say.
October 4, 2023 at 2:16 AM
After 13 years in the Shirl shadow, Ed Swenson gets a mandate to grow a $20-billion corporate RIA as old AIG IBD unit, Advisor Group, reorganizes and seeks new brand identity
The Dynasty veteran is key man in Jamie Price effort to take Advsior Group and finally streamline and up-RIA it for a new era.
June 6, 2023 at 1:46 AM
See more related moves