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Articles published 12/2011


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Maria Marsala: Set yourself apart by not giving out your business cards like they're candy.

Top 10 ways financial advisers can 'market smarter' -- and enjoy it more in 2012

Developing a niche clientele will broaden, not narrow, your client base and can make your practice more profitable and pleasurable

December 30, 2011 at 3:38 AM

Larry Sinsimer: This is a statistic that advisors have the power to change.

Three items of RIA interest

Fidelity study shows 70% of recent widows fire their advisors, Commonwealth and embattled PIEtech strike a deal and Modera Wealth brings aboard a senior planning specialist

December 29, 2011 at 4:13 PM

Brian Gendreau: Business investment has been surprisingly strong.

The state of the 2011 investment landscape and how it bodes for 2012

We're still nursing a long-term hangover from 2008 but there are some stealthy signs of recovery

December 29, 2011 at 4:10 PM

Ron Shevlin: Advisors are jumping on the bandwagon without a clear understanding of what they're doing there.

Early adopters of social media, RIAs are growing disenchanted with its power to drum up new business

Advisors must become better marketers before they can optimize social media, experts say

December 29, 2011 at 4:08 PM

Dina Hampton: Social media brought me good tidings in 2011.

An East Coast editor travels to the Bay Area to see the RIABiz team in action

In which your correspondent sees the day-to-day operations of RIABiz, not to mention a coyote

December 29, 2011 at 3:59 PM

Amy Danforth: The accounts being referred by advisors make up the majority of our business.

Fidelity and Schwab donor-advised funds boast banner years

An up-trend in the markets has fueled giving to the charitable vehicles -- and RIAs are reaping some of the benefits

December 28, 2011 at 2:55 PM

Jonathan Stanley may not be the last to make the break from BoA-owned U.S. Trust, despite rigorous leaving provisions.

Braving 'garden leave' vagaries, Glenmede ramps up New York office by luring managing director from U.S. Trust

How much of the $1.5 billion in assets Jonathan Stanley oversaw will follow him to Glenmede is up in the air due to U.S. Trust's 60-day policy and other factors

December 23, 2011 at 2:23 PM

Brooke Southall is reporting from Portland, Maine and the weather is better than this.

RIABiz counts down to Christmas in Maine, Oregon, Indiana, New York, Seattle and San Anselmo, CA

We're wrapping up our reviews of 2011, drinking egg nog and occupying an RIA

December 23, 2011 at 2:02 AM

Mike DiGirolamo: We've been working on this for about two years.

How some RIAs are starting to end up with Raymond James as their custodian

Five are joining RJ from a Buffalo, NY B-D that is closing its doors after 80 years

December 22, 2011 at 4:01 PM

Marty Martin: Financial services professionals need to recognize how the fight-or-flight response impacts financial decisions and behaviors.

Can the behavior of RIA clients be changed? Yes ... but

A financial advisor may need neuroeconomics, clinical psychology, and behavioral finance to counter credit-care vacations and speculation

December 22, 2011 at 3:37 AM

Fred St. Laurent: A number of smart brokers are going to see this as one of the best deals on the street.

What one recruiter learned about Schwab's franchises after talking to Mary

Initially skeptical, on closer inspection and after talking to Schwab's first franchisee, our correspondent sees a real value proposition in the offing

December 21, 2011 at 3:55 PM

Russel Kinnel: Sometimes there's just some key information that's not being considered in the star ratings.

Morningstar explains its new forward-looking rating system -- and tosses in some hot fund picks for good measure

The Chicago-based firm adds Gold, Silver, Bronze, Neutral and Negative ratings to its rear-view-facing constellation of stars

December 21, 2011 at 12:46 PM

John Hyland: If you compare that to LPL itself, that's a more competitive comprehensive structure.

How LPL's biggest branch office added $3.5 billion this year by beating LPL itself with a key service

Private Advisor Group brought 22 compliance-minded advisors onboard this month alone to its RIA -- all with the blessing and help of its big IBD partner

December 20, 2011 at 4:33 AM

Charles T. Hage: Wealth in hedge funds is being destroyed not in a single dramatic episode but with false measures disseminated by the industry.

The truth about hedge fund risk

Forget tail statistics -- the point is to focus on manager preparedness for surprises early on in the process of investor due diligence

December 20, 2011 at 4:30 AM

Reed Colley: We continue to have our best quarters.

How Black Diamond is faring as a unit of Advent Software

Signs are very good though at a cost because of the sales structure

December 19, 2011 at 3:49 AM

Steve Huxley: Gift cards would yield greater efficiency -- but are not nearly as much fun for the giver!

A chief investment strategist asks: Exactly how efficient is holiday gift shopping?

More efficient than buying lunch on the company account by Milton Friedman's reckoning -- but it's better not to think about it Tiffany's counter

December 19, 2011 at 3:48 AM

Brian Hamburger: I think that number [from BCG] is a very conservative and kind number.

FINRA attacks Boston Consulting Group over SRO study

BCG sticks to its guns saying that the double-dip cost of SEC oversight makes any FINRA numbers moot

December 16, 2011 at 7:05 AM

Jud Bergman: We've been working to bring opportunities to the fore.

With FundQuest off its plate, Envestnet is ready for a helping of new deals

The Chicago outsourcer has IPO cash, deal experience and an appetite for growth

December 16, 2011 at 7:02 AM

David Tittsworth: Now we have the cost context that's been missing.
December 15, 2011 at 6:20 PM

Eileen Canady: We're an invitation-only organization

How a B-D with its own RIA -- and a strict door policy -- went from $1 billion to $2 billion AUM in a year

JHS Capital Advisors screens advisors using an ethical litmus test and is looking to expand throughout the U.S.

December 15, 2011 at 4:05 PM

Kevin Tanner: Last week my chief compliance officer got a call from a multi-billion-dollar firm I’d never heard of.

One California RIA gathers about $40 million of assets monthly by tapping institutions

Founder and CIO of Saratoga Research & Investment Management concentrates on generating primo returns in the quest for $2 billion of AUM

December 15, 2011 at 6:35 AM

Charles Goldman has kept a low profile but maintains an intense interest in the RIA business

Charles Goldman will give a speech and Shareholders Service Group will make noise in the marketplace

Over 300 independent RIAs are expected in San Diego along with Spenser Segal, Lou Stanasolovich, Bob Veres and Norm Boone

December 14, 2011 at 4:04 PM

Mary Murphy is carrying the Schwab brand on her shoulders.

And they're off! Schwab opens the doors to its first independent franchise ... in New Hampshire

Ex-wirehouse advisor and teacher Mary Murphy puts her toe in the water, perhaps leading the way

December 14, 2011 at 11:55 AM

Erik Clarke: We went through quite a process with them.

Orion wins a $2-billion RIA account from Advent after two very long drives across the prairie

The second round-trip Omaha-to-Kansas City drive -- three years after the first -- led to the win of Mariner Wealth Advisors' private client assets

December 13, 2011 at 5:03 AM

John Hyland: There are still six more months of egg shells.

Eighteen months after the fight of his life, an advisor raises more money for a Leukemia cure

John Hyland helped transition his firm from his hospital bed and is now training for an Ironman race

December 13, 2011 at 4:50 AM

Robert Levitt: The problem was (that) the other guys couldn't handle us.

State Street's semi-secret success in the RIA custody business

The Boston-based giant typically services RIAs with $1 billion or more in assets - RIAs so big they have their own technology

December 12, 2011 at 6:28 AM

Stan Ehrlich: Why does Schwab want to franchise its brand and potentially put itself in conflict with some of its own RIAs, such as me and many of my peers in NAPFA?

Are Schwab’s independent branches an opportunity or a threat to RIAs?

For RIAs with financially profitable practices that meet their lifestyle needs, I think owning a franchise would take them back a few steps.

December 9, 2011 at 4:03 PM

Brian O'Regan: I love building things and I could do that both with Fidelity and Mariner.

Big Midwestern RIA hires away a Fidelity exec to realize its $50 billion plan

Mariner Wealth Advisors has reached a critical size where professional management is called for

December 9, 2011 at 5:20 AM

Scott Curtis: Going over to the independent contractor model is kind of like going back to where I started.

With Dick Averitt retiring, Raymond James taps a star from within to take on LPL

Scott Curtis' background includes GE Financial, Raymond James and life as the son of a Dartmouth coach

December 8, 2011 at 6:13 AM

David Loeper: The '68 convertible wasn't [the biggest] priority for the client but when he was overfunded, we told him to go buy it. Then we found one for him.

Four on the floor: Items of interest to RIAs this week

Russell defines the RIA-client gap, the latest from Loeper's Wealthcare, Vanguard halves a fund fee and FOX announces a make-your-own-family-office seminar

December 8, 2011 at 6:05 AM

Patrick Gingras: In most cases we'd prefer not to be in an annuity, period. But you've got to work with the hand you've been dealt.

Jefferson National passes the $1 billion mark selling annuities to the advisors who 'hate' them most

The insurer's pared down, flat-fee product garners praise through gritted RIA teeth

December 7, 2011 at 4:10 PM

Gil Baumgarten:  New clients say they would have never done business with me at any wirehouse. They think the system is rigged.

How a former Barron's top advisor was able to offload 350 clients and raise profits after leaving UBS

The wirehouse breakaway finds he also has a new social status and the ability to win $19-million clients

December 7, 2011 at 7:37 AM

Is LPL chairman and CEO Mark Casady looking to add a jewel to the the mammoth B-D's crown?

LPL and Fortigent may be cooking up a merger, sources say

A strategic alliance could give LPL access to VIP RIAs and make Fortigent's highly customized offerings more profitable

December 6, 2011 at 8:01 AM

Michael Ling: Well, you better know what you're doing ... the more you know, especially about economics, the better questions you can pose.

Advisor Tested: HiddenLevers roots out hidden connections between world events and client portfolios

Ten months in, we talk with two early adopters who are using the tool to check out what-if scenarios like 'Eurozone collapse' to create their what-if scenarios

December 6, 2011 at 6:08 AM

Ed Swenson: This is the big bang.

Attack of the killer app: Dynasty targets the corner-office broker by combining Envestnet and Callan

Cheap research, big manager access and smooth technology may prove a magnetic force

December 5, 2011 at 4:28 AM

Les Abromovitz: A word or two can make the difference between a compliant video and one that is potentially misleading.

Why RIA videos are especially fraught with regulatory pitfalls

The productions are expensive so check with the CCO before rolling the cameras

December 5, 2011 at 4:21 AM

Dan Goldie: They already know the investment approach before we even talk.

Dan Goldie tells how his NY Times bestselling book has changed his practice, and how his co-author affected his life

The ex-tennis pro now has windfall prospects but still structures his RIA firm so he can spend all his time with clients

December 2, 2011 at 7:46 AM

Chris Greene finds some ETFs he likes.

Picking through the ETF pile for some relatively safe high yields

Low-cost, income-oriented exchange based products may be the real story in next-gen ETFs

December 2, 2011 at 7:44 AM

Schwab is moving Schwab Private Client completely out of its branches to a remote RIA.

Starting 2012 with a bang, Schwab will place its private client business under a new RIA

The Bay Area firm says it's making the move to avoid compliance clashes with ERISA; others say Schwab's riding the coattails of the RIA movement

December 1, 2011 at 7:56 PM

David Barry 'has a proven track record of strong leadership and the establishment of award-winning service and employee culture' says TCoA of its new chief executive.

Frank Maiorano is out at Trust Company of America and board member is named new CEO

The Colorado-based RIA custodian is putting a ski resort executive, David Barry, in the chief executive spot

December 1, 2011 at 3:34 PM

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