News, Vision & Voice for the Advisory Community


Ric Kellogg can count on a hectic first couple of months as he joins a Midwestern RIA looking to extend its geographical reach.

After 13 years at Merrill Lynch, the Southlake, Texas-based advisor joined IHT Wealth Management LLC, a Chicago-based firm on the LPL Financial hybrid broker-dealer platform, in March. See: LPL Financial wages 'war' on Cetera, Securities America and Kestra after they pounced on NPH advisors in wake of sale

"By joining LPL and IHT, I have access to a broad range of products and services along with specialized resources and support that can enhance the service I can provide to my clients," he says in a statement.

Kellogg, who reports having served $123 million of client brokerage and advisory assets, will help build out IHT's presence in Dallas and Las Vegas and will help open new offices San Diego and Scottsdale, Ariz., according to Steve Dudash, president of IHT. 

He will also share lessons learned in his 23-year career with his IHT colleagues. 

"I’m excited ... to have the opportunity to mentor and collaborate with other advisors,” he says in a statement. See: How Merrill Lynch 'shot to hell' the RIA fiduciary citadel by casting its $7.5 billion fiduciary 401(k) unit as smaller, purer and more future-minded on paper.

Kellog joined Merrill Lynch in 2005, most recently acting as wealth management advisor and senior resident director. Before Merrill, he was regional vice president for AXA Advisors LLC.

“At IHT, our goal is to create a network of entrepreneurial, like-minded advisors and provide their clients with the best specialized services in the marketplace," says Dudash in the statement. "Ric is a great fit for IHT’s culture and business model and we look forward to supporting him for years to come.”

Paul Hynes

Paul Hynes

October 6, 2009 — 11:30 PM

I’m reminded of something once said by Upton Sinclair, that “it is difficult to get a man to understand something when his job depends on not understanding it.” Another way to say this to any advisor is, “What advice would you give if your compensation had absolutely nothing to do with it?” Having been in the brokerage world for 22 years prior to joining an independent RIA three years ago, I understand the challenges and restrictions in that world. Those who desire to break free of these challenges and restrictions and operate as true fiduciaries with their clients have an option – they can leave that environment and enter a new relationship with their clients as an independent RIA. Many brokers are unwilling to do this, for whatever the reason – usually that they don’t want to bother with the business aspects of being independent. I can understand the dilemma. Well, now there are several viable RIA business models that can help them achieve independence while also shouldering most if not all of the burden of keeping the advisory shop open and operating. Anyone who’s truly interested and motivated to change can simply plug and play. With these options available, what’s the next excuse going to be?

These comments are the opinion of the writer and not necessarily those of Burns Advisory Group, an SEC Registered Investment Advisor.

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