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RIABiz

Articles published 8/2017


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The DOL told Judge Nelson to pause her findings on Thrivent because BICE may get mooted.

Why brokers can't exactly relax even after DOL promises, in effect, to drop BICE from its rule, then delays it 18 months

Attorneys caution DOL-weary execs that Department of Labor can't huff, puff and ramrod through a big change, and even a rule delay is fraught for brokers that treat it as a pure reprieve

August 29, 2017 – 9:12 PM

Dawn Bennett: Why was I a target for something that for anybody else would have been small and miscellaneous?

After home raid allegedly turns up wild evidence, the SEC goes after Dawn Bennett for civil fraud

A $20 million Ponzi-like scheme and attempted voodoo are the latest revelations out of the Securities and Exchange Commission

August 28, 2017 – 9:52 PM

The team of Laura Blair, Ben Gordon, Risa Riser  and Collin Hart has equal asset stature to the firm busting them out of Merrill Lynch.

Dallas RIA with $550 million jumps to $1.1 billion of AUM by slicing off $550 million of PBIG bacon in form of Merrill Lynch breakaways

With Pershing and Dynasty Financial as anchors, Syntal breaks down Private Banking Investment Group walls at Merrill Lynch on the strength of Texas ties

August 28, 2017 – 6:56 PM

Brooke Southall and Frank Noto stick to a simple business model at RIABiz.

RIABiz turns eight with Moss Adams-style growing pains and -- finally -- accelerating growth

The Mill Valley, Calif.-based publication grows 13% again in the 12 months ended July but pipeline assures higher 2017-'18 rate of increase

August 24, 2017 – 7:48 PM

Ren Riley: There's a transaction happening and we're not dead.

Robertson Stephens seeks revival under new CEO after departures that included the old one

Founder Joe Piazza is still a director and his new chief, Ren Riley, says a pending deal means the San Francisco-based RIA is 'not dead' yet

August 23, 2017 – 7:06 PM

Trust the market not the metaphor: Today's blotting out of the sun actually signals good times ahead.

Never mind seared corneas. Will the first total American Eclipse since 1991 trigger a major equities market correction?

LPL stat-gazer says signs point to 'no' -- since the turn of the last century total solar eclipses as viewed from the US have presaged double-digit equity gains

August 22, 2017 – 5:59 PM

Joe Duran: The majority of the people in the industry are the walking dead, and they don’t even know it.

Power Player: Joe Duran powers beyond old 'roll-up' labels even as his United Capital roll-up shifts into a higher gear

In America few second acts surpass the first but the United Capital CEO is on at least his third act -- and he's a native African

August 21, 2017 – 10:48 PM

Chip Roame: Frankly, I doubt that there were many other legitimate bidders for NPH.

LPL Financial's tack to roll-up mode -- complete with trash-talking its sweet terms -- may send its rep count sailing past Morgan and Merrill

CEO Dan Arnold's pivot away from seller's market in reps to buyer's market in scooping up rivals on the cheap is an experiment that could work

August 18, 2017 – 6:41 PM

Chip Roame: Frankly, I doubt that there were many other legitimate bidders for NPH.

Chip Roame crosses Bay to proclaim bright future for classic RIAs -- and says a certain wirehouse will go fee-only to become the largest RIA -- at Laser App event

CEO Dan Arnold's pivot away from seller's market in reps to buyer's market in scooping up rivals on the cheap is an experiment that could work

August 17, 2017 – 6:36 PM

Gerard O'Reilly gets the co-CEO nod after 'evolving' DFAs investing process.

Months after being assigned a new co-CEO, Eduardo Repetto is out at Dimensional Fund Advisors

Gerard O'Reilly, a quiet superstar at the Austin firm, gets heaps of praise from DFA's chairman for moving its investing process forward

August 16, 2017 – 2:42 AM

Fred Reish: It may be that the broker-dealers will limit the advisors who can work with large plans.

To the surprise of some, Dept. of Labor grants get-out-of-DOL-rule-jail card to 225,000 firms that dabble in the 401(k) business

Without recent guidance, 401(k) specialists were set to devour one-off accounts held by brokers but new DOL rule guidance offers well-lit path to build toward a far larger 401(k) practice

August 15, 2017 – 12:54 AM

Part of Jon Stein's power lies in taking New York's media glare in stride.

How Power Player Jon Stein's braggadocio about how Betterment is the next Amazon may be a blind distracting from stealth IPO moves and surgical deployment of a flesh-and-blood workforce

Stein, 38, tightened reins at his NYC robo-advisor this year when the COO departed, stuffing more cash into a war chest and adding CFP-wielding humans to the mix at every turn

August 11, 2017 – 4:13 PM

Matthew Borden: When it goes to the jury it’s gonna be plain to see through what the bank is doing .... Meanwhile my clients are [n]ot cowering from the bank and not shirking their duties to their clients.

Silicon Valley $300-million RIA strikes back at $30-trillion BNY Mellon with act of counter-intimidation

Lyell Wealth's response in the Atherton Lane case discloses dirty laundry list of allegations including blatant cross-selling, bullying ex-Atherton advisors out the door and retaliation against clients considering following them

August 10, 2017 – 4:23 PM

Burt White: Historical technical analysis tells us that buying the dip is often the right move in bullish trending markets.

LPL investment chief to advisors: Buy the dip! What'll it look like? Good question.

Keep an eye out for a pullback triggered by a central bank goof-up, a Trump super-SNAFU or a geopolitical kaboom

August 8, 2017 – 9:56 PM

Michael LaMena: This represents a terrific opportunity for me to join a firm with significant growth goals and an impeccable reputation.

Elliot Weissbluth's second in command walks from HighTower to an ivory tower of 'pari passu' ownership with an 'impeccable' reputation

Michael LaMena trades in a $50-billion-AUA roll-up for $5-billion-AUM roll-up after headhunter lays out case of bright, de-Balkanized Bronfman Rothschild future

August 7, 2017 – 7:24 PM

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