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Articles published 5/2012


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Michael Nathanson promised deals -- and quickly delivered.

Mintz Levin sells its $1.2 billion RIA, and Focus Financial nabs the assets through a partner firm

In an all-Boston deal, The Colony Group becomes a $2.5 billion behemoth only months after hooking up with the big New York consolidator

May 31, 2012 – 5:45 AM

Angela Canterbury: Several members of Bernard Madoff's family held leadership roles at FINRA.

Non-partisan watchdog group writes a scathing letter about FINRA

POGO, which uncovered the Pentagon's famed $7,500 coffee maker, says the would-be SRO is basically rife with conflicts of interest

May 31, 2012 – 5:32 AM

Ron Rhoades: "Suitability" is a failed doctrine. FINRA itself is a colossal failure, by any measure.

An in-depth analysis of FINRA's attempted takeover of RIAs and why the group should be disbanded, Part 2

FINRA's aim is to stamp out small RIAs that compete with its large Wall Street firms. Don't let it happen, pleads NAPFA's new chairman

May 31, 2012 – 5:24 AM

Joe Russo: Everyone in D.C. knows that this Congress is never, ever, going to give the SEC more money.

New FSI chairman isn't sugarcoating FINRA's shortcomings but blasts the SEC on porn and Blackberries in this letter

Joe Russo says that 25% of his group's own membership doesn't favor extending FINRA's dominion to RIAs

May 30, 2012 – 5:18 AM

Ron Rhoades: FINRA was already an expert at protecting its large Wall Street firms from competition.

Why FINRA's power grab for RIAs needs to be stopped to avert the death of the profession, Part 1

Looking back from the year 2025, the author recounts how FINRA seized regulatory control and crushed the life out the once-thriving RIA channel

May 30, 2012 – 4:37 AM

Jason Roberts: The broker wants to make sure the advisor isn't taking the clients to lunch.

Why brokers from Nationwide, LPL, Merrill Lynch and others are giving RIAs a cut of their 401(k) action

RIAs and brokers alike are wary of the fox-in-hen-house effect but DOL is creating strange bedfellows

May 29, 2012 – 3:46 PM

Duane Thompson: It’d be a compromise, even though that doesn’t seem to be a fashionable word right now.

Duane Thompson says Bachus bill will croak in Congress but others see danger aplenty

The FPA veteran who spearheaded the killing of the 'Merrill Lynch Rule' outlines his vision of compromise on the SRO issue

May 29, 2012 – 3:46 PM

Robert Matthews: We look to most people as much like an RIA as a bank.

Bank founded by ex-Merrill chiefs spurs RIA arm to $3 billion after hiring a former Citi chief as CEO

Fieldpoint took off after hiring Robert Matthews who's attracted advisors from US Trust, Morgan Stanley Smith Barney, Goldman, Bank of America, JPMorgan and Wilmington Trust

May 29, 2012 – 3:45 PM

Abby Salameh: You want to answer that e-mail immediately, return that phone call ASAP and respond to that text message the minute it comes in on your phone.

The art of breathing: How to handle the overwhelm of being a financial advisor in 2012

First we need to understand the principle of diminishing personal returns -- and then be willing to take counterintuitive steps

May 25, 2012 – 4:51 AM

Rudy Adolf has made Focus Financial a giant among buyers, but now it may be looking for its own buyer.

Summit Partners is reportedly shopping around its stake in Focus Financial

Focus has wheeled and dealed this year with acquisitions and big lines of credit -- now this

May 24, 2012 – 4:24 AM

Jack Waymire: Mathematicians are not chief investment officers, analysts or portfolio managers.

Online RIAs will mostly fail -- and here are 10 reasons why

Firms like Personal Capital, Covestor and Betterment are garnering both media attention and big VC bucks -- but backers severely underestimate the tie between investor and advisor

May 24, 2012 – 2:43 AM

John Beirne: We never thought we'd be automatically hired.

Merrill Lynch breakaway wins $550-million account in head-to-head battle with UBS -- despite a higher bid

John Beirne was selling his stellar track record and the city of Bristol, Conn. was buying

May 23, 2012 – 3:05 AM

Ron Rhoades: You're going to see a much more active NAPFA.

NAPFA's appointment of a new chairman could be a big deal for RIAs

Ron Rhoades spent the last year in obscurity but now he's "ready to take the gloves off"

May 23, 2012 – 3:03 AM

Jason Lahita: Words like "egregious," "sloppiness," and "stupid" were used ... by Jamie Dimon.

How JPMorgan's PR mojo downgraded a $3-billion PR typhoon to a five-day squall

Availability, self-criticism and starting from a position of credibility all helped short-circuit the relentless media laser

May 23, 2012 – 3:01 AM

Anne Tuttle:  We’re happy to see more information provided to sponsors.

How giant advice provider Financial Engines can sweep the 401(k) field -- or not

It has $53.7 billion of assets under its managed account platform, but how the new DOL disclosure rules, competition from Morningstar and Schwab's bet on GuidedChoice play out will be very telling

May 22, 2012 – 3:41 AM

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