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Articles published 3/2012


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Peter Dorsey already knows the ropes at TD Ameritrade and knows plenty about Fidelity's ropes, too.

In his first big move in his new job as TD's RIA chief, Tom Nally picks the replacement for his old one

Peter Dorsey is ex-Fidelity and ex-Bear Stearns but also a real veteran of the TD sales staff

March 30, 2012 – 4:01 PM

Larry Steinberg: The simple fact is that there is no way to even break even on a $200 per month (contribution) RIA account.

Two advisors debate the financial viability of serving as a fiduciary to small accounts amid DOL's new rules

Larry Steinberg expresses big doubts but Jeff McClure sees advisors wedging in like Ace Hardware amid Home Depot and Lowe's

March 30, 2012 – 6:09 AM

David Lo: Firms struggling with the key best practices identified in the study are also paying the highest retention and signing bonuses.

J.D. Power and Associates hints strongly at wirehouse deficiencies as it puts Commonwealth Financial and Raymond James on a pedestal

The two firms ranked one and two for independent advisor satisfaction among financial investment firms; Schwab is third in the employee-advisor category

March 29, 2012 – 10:34 PM

Anthony Ferreira: The second- and third-tier firms might have problems.

Is Hartford Financial's market exit a death knell for the annuity crowd or just more Hartford haplessness?

SunAmerica, John Hancock and Hartford are all in retreat mode but trade groups say aggregated industry sales are still solid

March 29, 2012 – 5:32 AM

Tony Sirianni: Everything's been faster, bigger, more.

How Washington Wealth is using a million-dollar carrot to lure centers of massive wirehouse influence

The Virginia-based firm is surpassing its growth targets by going way up the ladder for recruits

March 28, 2012 – 4:46 AM

Gus Fleites: I was always left with an uneasy feeling.

Gus Fleites joins an Oregon venture with a plan to revolutionize the 401(k) business

The former president of State Street Global Advisors' fund business is joining Darwin Abrahamson at Invest n Retire to accelerate ETF proliferation in DC accounts

March 28, 2012 – 4:25 AM

Fred St. Laurent: Sometimes it's complicated to move the other team at the same time.

Breaking away from Merrill with $1 billion of assets, a HighTower RIA returns to scoop up $200 million more

The advisors were on separate teams so Pagnato-Karp Group tested the waters then gave the all-clear signal to Charles Holt

March 27, 2012 – 4:07 AM

Bill Dwyer gave a high-energy speech predicting 500% asset growth among independents as 401(k)s roll over.

What went down at Barron's Top Independent Advisors Summit in the Arizona desert

Many of the biggest and best RIA stars showed up and put Bernie Clark, Mike Durbin, Tom Nally, Mark Tibergien, Bill Dwyer, Charles Goldman and Barnaby Grist in one room

March 26, 2012 – 3:31 PM

Les Abromovitz: The most significant compliance risks arise from structured programs that reward clients for each and every referral.

Where RIAs should draw the line in rewarding clients for referrals

By expressing your gratitude in a tangible form, you run the risk of turning your client into a solicitor

March 26, 2012 – 5:50 AM

Michael Karmin only joined a $760 million RIA a few days ago from Northern Trust and he was all ears at the Fidelity educational event.

Fidelity goes deep dish on marketing in Chicago with 25 advisors -- including how to make bios more punchy and casual

A hard-charging 86-year-old advisor and a Twitter-savvy 28-year-old were among the kaleidoscope of characters who showed up

March 23, 2012 – 3:20 PM

CEO Asheesh Advani aspires to partner Covestor with broker-dealers and institutional investors, and to expand the firm's content.

Unfazed by declining assets, VC-backed Covestor has another go with a new CEO and some concessions to the old-fashioned machinery of investment advice

The good news is that it has 400 clients -- up from 150 a year ago -- but can the company still be seen as primarily web-based?

March 23, 2012 – 4:25 AM

Susan John: It appears we may be on the same page for once. This is just one of those odd circumstances.

As DOL contemplates stiff fiduciary-related penalties on advisors, NAPFA and FPA find rare concord with FSI

The more RIA-focused groups agree with the IBD trade group that holders of smaller IRA accounts will not be able to pay for advice under new rules

March 22, 2012 – 4:07 AM

Matt Lynch: Tiburon's challenge is to find the right people to respond to the volume of inquiries that come in.

Tiburon Strategic Advisors signs on ex-IBD CEO and ex-Moss Adams consultant as it strives to meet rising demand

Matt Lynch is coming aboard with Chip Roame as a principal after heading up Capital Analysts for the past five years

March 22, 2012 – 4:03 AM

John Copeland: We've been having a number of terrific conversations articulating our growth proposition to independent advisory firms.

AMG makes a dramatic entry into wealth management arena, buying majority stake in $10B Veritable

Veritable LP is the first in a series of very big RIAs the giant asset management firm has its eye on

March 21, 2012 – 5:42 AM

Michael Kitces: Now, I actually have a solution we can deliver.

Michael Kitces becomes partner at Pinnacle, ambassador for its new TAMP-like service

Pinnacle Advisor Solutions will provide outsourcing options as an arm of the wealth management firm

March 21, 2012 – 5:41 AM

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