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Articles tagged "Brian Hamburger"


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Peter Mallouk: 'I think, historically, this is a group that has been burned a bit.'

Peter Mallouk has now signed on 30 Goldman Sachs advisory offices, he says, by improvising a fourth option after advisers gave the side-eye to three others

The Creative Planning CEO says he is developing 'United Capital 2.0' on the fly to combat distrust and his Zoom ofensive is netting results

September 12, 2023 at 9:27 PM

Marc Nachmann: It is margin accretive

After false start, Goldman Sachs unloads high net worth unit to high-flying Peter Mallouk whose wide-spectrum offer won 'United Capital' in eight days

The Creative Planning CEO only paid a 'not material' price to Goldman Sachs to make a potentially quantum leap ahead toward dominance in the 'national RIA' race

August 29, 2023 at 4:32 AM

Brian Hamburger [and Shirl Penney]: Some investors in prior rounds were invited to participate.

The broad spectrum friendship of Brian Hamburger and Shirl Penney now includes sharing most of a $5-million bet into proving that SmartRIA lives up to its straight-A name

The principals of MarketCounsel and Dynasty Financial go all-in on software that keeps RIAs all good with the SEC -- without being all-consumed by an unrelenting task.

April 11, 2023 at 1:29 AM

Tim Welsh doesn't let RIA observations stay in Vegas, and he has plenty of them.

MarketCounsel Summit convenes in Las Vegas with Goldman Sachs there to say: We are already really a $1-trillion custodian

Goldman Sachs used the low key, high traffic event in Nevada to signal to the RIA vendor crowd it's raring to get going with breakaway brokers,

December 10, 2022 at 4:21 AM

Brian Hamburger: SEC would now have the ability to search for all advisers that used that service provider and look for similar problems.

SEC crackdown on 'set-and-forget' advice alarms RIAs, who face new 'burdensome' and 'expensive' reporting to curb alleged 'conflicts of interest' over 'deceptive' outsourcing

The spike in RIAs outsourcing functions formerly kept in-house triggered the crackdown, but is the red tape worth it? advisors ask

November 15, 2022 at 3:59 AM

Michael Kitces and Brian Hamburger are both weighing in on a long-postponed debate.

The FPA takes 'legal' action to purge 'planner' charlatans from the RIA business -- a plan certain to 'divide' members but align it with its chief gadfly, Michael Kitces

Despite opposition from at least 4% of its own members, the Financial Planning Association is seeking to quash quackery by making it illegal for a product salesman to get labeled as a planner -- a fight that Nerd's Eye View took up last year.

July 22, 2022 at 1:30 AM

Brian Hamburger: This is unprecedented what CI Financial is doing, and we won’t know if this is logical for years to come.

Brian Hamburger takes back Miami, gets 98% show rate at MC Summit, then plays devil's advocate for the M&A mania gripping the RIA business

Attendees made the trek to the Fontainebleau Hotel Resort amid health precautions to high-five flesh and do a very in-person reality check

December 9, 2021 at 10:47 PM

Gary Gensler: There’s a reason why the ’33 Act was called the Truth in Securities Law.

RIAs may face ticking time bomb after SEC slams a $1.9-billion RIA for neglecting 'orphan' accounts while charging fees, a problem that may be industrywide

Thousands of clients may be getting lost in the shuffle in the face of strong inorganic RIA growth -- an obscure problem until federal regulators gave Regal Investment Advisors the royal treatment, in part, for charging full fees and failing to disclose reduced service.

October 26, 2021 at 7:39 PM

Mindy Diamond: There are instances where firms increase it to 8%. Does that extra incentive make us send them more leads? Absolutely not.

Schwab upends traditional 'basis point fees' for RIA recruitment and pushes the headhunters to negotiate with advisors for a cut of soft-dollars

The custodian to 10,000 RIAs follows a like move by Fidelity to bring RIAs into the loop on how much recruiters are paid and who pays what amount

March 3, 2021 at 3:42 AM

Brian Hamburger: Cutting out free lunches doesn't end the conflicts.

Merrill Lynch bars brokers from accepting freebies from third-parties but Brian Hamburger sees the play as a classic Wall Street 'card trick'

In a world where RIAs often accept lunches from a wholesalers, the New York wirehouse's out-of-the-blue change of heart has the lawyer saying it looks more like a way of bolstering its position as the intermediary

September 10, 2020 at 3:33 AM

Matt Kilgroe: We followed the evolution of the independent space- particularly on the technology side.

Shirl Penney lands UBS team as Dynasty Financial tower-mate in a sign the breakaway movement remains explosive, despite turning to 'quiet launches' during the COVID-19 pandemic

New deals reflect branches/centralized decision-making as albatrosses in virtual world; Northern Florida is case in point -- sheltering at home is not the local practice.

June 17, 2020 at 2:29 AM

Brian Hamburger: I ask advisors if they’ve walked across the street to the bank.

Thanks to a minor explosion in minority-stake deals, RIA M&A is still sizzling but it may be seller beware

For the RIA principal who wants cash, control and chips off the table, it's M&A ambrosia; but sophisticated buyers may be extracting more value than sellers realize

May 27, 2020 at 5:01 PM

Brian Hamburger: We have great speakers who didn't ask for anything in return.

Brian Hamburger gets Bill Crager, Joe Duran and a top Schwab executive in swing for 'insider baseball' feel at MarketCounsel Summit

RIA feedback guided toward less 'wow' factor and more RIA behind-the-curtain stuff and the golden oil that lubricates all events -- more recess to mingle and schmooze

November 18, 2019 at 10:36 PM

Jason Fertitta: We are excited to be able to work from the same side of the desk as our clients

Shirl Penney and Brian Hamburger gang-tackle largest breakaway of 2019 as Jason Fertitta, Team Americana bolt Morgan Stanley to form Schwab RIA

The Dynasty CEO and MarketCounsel CEO fended off the logistical and legal furies for small team with $6 billion in AUM and average accounts of $50 million

April 29, 2019 at 5:11 PM

Bob Edmonds and Bob Curtis proudly teaming up sent tremors through the competorati.

T3, held in two-cow town, churns out big news -- much of it about Apprise Labs, RightCapital debuts-- as industry shifts to planning from portfolio management

Joel Bruckenstien lured the RIA world to low-cost Denton, Texas and the RIA world brought stories of breakthrough deals, data and Clever domes

February 6, 2019 at 4:42 AM

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