Articles Published 10/2017


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Timing of Morgan Stanley's Broker Protocol withdrawal sends shocks through RIA legal and recruiting circles

Hundreds of planned and in-process breakaways are reassessed after keeper of the list, Bressler, Amery, & Ross, sat on the change for a week but a silver lining is already emerging

October 31, 2017 — 3:08 AM UTC

Philip Palaveev writes the one RIA book worth reading this year

Passing down an RIA practice is barely easier than bequeathing a soul and he writes 'G2' accordingly

October 27, 2017 — 10:27 PM UTC

TD Ameritrade calms the RIA Twitter storm but not questions about the spreads on the ETFs replacing the super-liquid Vanguard and Core iShares

The additional 60-day extension lets advisors breathe but even Wall Street analysts wonder just how far TD Ameritrade should go in inflaming 'consternation' of 'golden goose' RIAs

October 27, 2017 — 12:45 AM UTC

HighTower finds hundreds of millions to cash out itchy shareholders

Thomas H. Lee Partners likes financial firms -- especially ones with big cash flow and potential for operational efficiencies

October 25, 2017 — 3:59 PM UTC

Guilty as charged, Howard Present retreats to no-harm, no-foul defense in sentencing phase

Back against the wall, the ex-F-Squared CEO hopes for leniency because 'no investors suffered losses' as SEC seeks $11-million disgorgement and $150K penalty

October 24, 2017 — 9:28 PM UTC

Marty Bicknell sells Tortoise stake for '$150 million' with cash already earmarked for four or five RIA purchases

Mariner Holdings CEO banks tidy gain as he dumps his 67% stake in $20 billion-AUM Tortoise that had just $1.3 billion of AUM when he bought it

October 23, 2017 — 10:08 PM UTC

TD Ameritrade is 'gathering feedback' after Michael Kitces's blogged overture for RIA collective bargaining on wholesale ETF line-up shift

The blogger and RIA platform owner offered three compromises and one request for a deadline extension but the RIA custodian is thus far having none of it

October 20, 2017 — 11:47 PM UTC

Why exactly E*Trade is paying $275 million cash for Trust Company of America

CEO Karl Roessner cites his firm's high demand for an RIA foothold in a low-supply market to counter RIAs and wirehouses preying on E*Trade's HNW investors

October 20, 2017 — 9:12 PM UTC

E*Trade enters RIA custody business by purchasing number five player

The New York-based discount broker buys Trust Company of America with plans to rebrand it and invest heavily in its technology

October 19, 2017 — 11:49 PM UTC

TD Ameritrade angers RIAs who feel 'blindsided' after TD Ameritrade's actions prompt the departure of all Vanguard and some iShares ETFs from its NTF platform

The Omaha-based broker's roll-out of new ETF platform also removes Morningstar as ETF-picker as new State Street ultra-cheap fund line-up gets the Vanguard/iShares spoils

October 18, 2017 — 9:45 PM UTC

US Bancorp venture uses $2.6-trillion running start in bid to become the supermarket-of-fund-supermarkets -- with analysts seeing threat to Pershing and other clearing giants

Using DOL rule as spur, the Minneapolis bank conjoins with hundreds of small IBDs with tantalizing promise of placing them on the same footing as the biggest self-clearing firms

October 17, 2017 — 10:45 PM UTC

As Aaron Schumm's 401(k) startup gets $8 million the FolioDynamix founder loves Vestwell's odd juxtaposition to Fidelity

Vestwell attracts second big FMR seed capital tranche by co-opting advisors to go where the Boston 401(k) king is most challenged -- very small plan sponsors

October 13, 2017 — 5:12 PM UTC

In calm after storm Raymond James showcases three RIA tipping points at RIA confab -- and two of them are good

The St. Petersburg, Fla.-based broker-dealer took unabashed aim at the brokerage model as Tom Giacchetti warned RIAs about an SEC no longer content with firing warning shots

October 12, 2017 — 8:57 PM UTC

Caveats galore, Redtail attempts CRM revolution based on texting starting with 27,000 firms who use its software

Compliance experts and advisors throw down the gauntlet on CRM chat challenges but CEO/CTO Brian McLaughlin is unfazed

October 11, 2017 — 7:30 PM UTC

The 2017 FPA conference leans heavily on a Michael Kitces unimpressed with the group's 'silence' on the CFP Board

Although its theme was elusive, the Denver-based advocacy group and standard-setter drew 1,800 advisors to the Country-Western capital

October 9, 2017 — 7:57 PM UTC

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