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Articles published 8/2011


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The herd of advisors has been culled but the ones remaining may be better ones.
August 31, 2011 – 2:27 PM

Erika Cramer: Carlyle met their criteria in every aspect.

The Carlyle Group gets a bigger testing paw into RIA waters

The giant private equity firm is putting capital toward an aggressive expansion of the $4 billion Avalon Advisors

August 30, 2011 – 3:39 PM

Alex Murguia: We needed hit-by-a-bus insurance.

How McLean Asset Management is adding practices without making acquisitions

The New Hampshire and Virginia practice is bringing smaller RIAs in under its wing

August 29, 2011 – 2:20 AM

Jerry Murphy is taking the FSC helm.

Four news items for RIAs

Banks buy RIAs again; UHNW go nuts for iPads; the CFP Board gets much tougher; a big IBD gets a new president

August 26, 2011 – 5:13 AM

Brent Burns: I don't think I have ever seen conventional wisdom about an investment be so far off from reality.

Should RIAs buy gold now as a hedge?

When the US went off the gold standard in 1971, things changed

August 26, 2011 – 5:08 AM

Jason Lahita: Trying to somehow gloss over this or claim it was justified would pour gas on the fire - take your lumps for an honest mistake and move forward.

Schwab's rapid response to letter snafu seems to be smoothing ruffled feathers

The custodian garnered praise for its straightforward apology, but does the blunder point up a larger conflict of interest?

August 25, 2011 – 5:35 AM

Harold Evensky: They want to be in a position to raise money from industry sources and that's something we didn't want to do.

Fiduciary leaders splinter into two advocacy groups over divergent views

Knut Rostad takes six people with him to start the Institute for the Fiduciary Standard

August 25, 2011 – 5:24 AM

John Henry McDonald: [The man who was my succession plan] wanted to run a lifestyle practice, and I wanted to build a larger company. That was my toughest day, the day I fired him.

How a formerly homeless Vietnam veteran became a big-time RIA

The financial planner and blues guitarist took a 'miracles' course in Waco, Texas and is allergic to 'salesy' investments

August 24, 2011 – 4:29 AM

Brian Shenson: This is really just the tip o the iceberg.

Beta test of Schwab's grand integration plan draws rave, but will the slow rollout prove detrimental?

Schwabinstitutional.com data flows freely into Salesforce.com's CRM in 12-RIA trial

August 23, 2011 – 5:56 AM

Frank Germack: We wanted to show performance and we also wanted the ability to aggregate accounts as part of it.

Orion snags $2 billion Rehmann Financial account from Black Diamond

The mega-Michigan-based RIA had hyper-specialized needs

August 23, 2011 – 5:55 AM

Margaret Towle: I'm really excited about the partnership structure.

Former Northern Trust CIO brings a cool billion and lofty credentials to HighTower

The RIA-to-RIA spin-away advisor will hold down offices in Seattle and Minneapolis and build support teams from scratch

August 22, 2011 – 2:57 PM

Adam Antoniades: Becoming a free-standing company, with the financial support of a great partner in Lovell Minnick, will provide us with additional flexibility and resources to further accelerate our growth.

Private equity firm acquires First Allied

Lovell Minnick buys the San Diego IBD from Advanced Equities

August 22, 2011 – 2:56 PM

Gene Goldman: I had butterflies in my stomach because I was so excited about the opportunity to work here.

Commonwealth, Cetera and The ETF Store take notable actions

Commonwealth replaces Fidelity technology; Cetera snags Gene Goldman; an LPL vet, and upstart ETF Store takes another page out of Adam Bold's book

August 22, 2011 – 2:48 AM

Ed Beggs: Last year we had over 12 million forms downloaded from over 136,000 programmable pages.

Laser App is showing the prosaic business form's sexy side at its San Diego conference

Boring? Making the trip for the App Net event were folks from companies including: Schwab, TD Ameritrade, Pershing, Fidelity, Shareholders Service Group, Orion, Albridge, DST, Laserfiche, Redtail, MoneyGuidePro

August 19, 2011 – 8:04 PM

Bart Bonga: I thought the apology was fairly tepid.

Was Schwab's letter of apology to RIAs good enough?

One advisor called the custodians reaction 'tepid' and others expressed have even stronger feelings

August 19, 2011 – 2:25 PM

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