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Articles tagged "Luminous Capital"


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David Hou experienced another seven-year itch and dumped First Republic Bank.

UPDATED: In massive break, $17B 'Luminous' team at First Republic departs en masse to form two separate RIAs --in LA and Foster City, Calif.

David Hou, $4.4B, Mark Sear, $2.9B, Robert Skinner, $4.1B, Alan Zafran $3.9 billion and Eric Harrison $1.9B are forming Evoke Wealth in Los Angeles and IEQ Capital in Monterey, Calif.

June 3, 2019 at 6:25 AM

Peter Mallouk owns a $21-billion RIA already growing with organic ferocity. Then Tony Robbins shows up and whoosh.

The 10 RIABiz stories advisors connected with most deeply in 2016 and how hubris and humility ran amok in this didn't-see-it-coming year

How did Aequitas swamp CONCERT? Power outages at LPL, Cetera and Wealthfront? Adolescent robo problems? And was that Tony Robbins hawking his money book ... again?

December 28, 2016 at 5:54 PM

Alan Zafran: Luminous nearly doubled assets in the past three-and-a half years under First Republic.

First Republic's $70B-plus RIA roll-up loses four top executives as its contract with Luminous team ticks down

Sources say another Great Hou-Sear Escape could be in the offing based on the team's clannish ways when it comes to technology

August 8, 2016 at 8:10 PM

Matt Sonnen: There were only so many off-hours trips I could make through the service elevator.

A breakaway artist confesses the 'mistakes' he made in ushering PBIG's Hou-Sear team

With its elevators, synchronized watches, office space hijinks and voice-over IP, Luminous Capital was a virtuoso Merrill Lynch defection but not to Matt Sonnen

March 1, 2016 at 5:56 PM

Matt Sonnen: I was employee zero at Luminous. I built the firm in the shadows outside of Merrill.

How the mastermind of the Luminous Capital breakaway is parlaying his cloak-and-dagger skills into 'Pure Financial Independence'

With his wife, Larissa, as sidearm, Matt Sonnen seeks to fulfill a niche for a service level between John Furey and Shirl Penney

January 19, 2016 at 8:38 PM

Jim Herbert: The answer is yes, a little bit.

The hornet's nest that a $25.9-billion AUM RIA owner stepped on and how much it cost

Ex-Merrill Lynch-owned First Republic and buyer of Luminous Capital underestimated the burdens of Dodd-Frank -- and the tolerance of Wall Street analysts

July 17, 2014 at 6:21 PM

Matt Sonnen: I made a lot of mistakes along the way, and I hope I can help others avoid those.

Focus Financial goes after $100-million wirehouse brokers after hiring five employees suited to the task

The big New York aggregator will put the brokers through a one-year seasoning process before placing them in RIA foster homes

April 15, 2013 at 5:16 AM

Mindy Diamond says the Luminous deal shows that the potential payday of selling an RIA far exceeds the transition packages paid by wirehouses and other firms.

How the Luminous deal is rocking the recruiting world -- and may set the stage for more fireworks

The former Merrill stars effected an outsized cash deal with First Republic, proving that independence can have monetary rewards to match the psychic ones

November 8, 2012 at 4:39 AM

David Hou helped lead the biggest-ever Merrill breakaway and now he's part of a long-term deal with First Republic Bank.

A $5.5 billion LA-based RIA is getting purchased by First Republic Bank

Luminous Capital has gone from a 2008 Merrill Lynch breakaway to a big bank puzzle piece in 2012

November 5, 2012 at 7:04 AM

Many of Paul Pagnato and David Karp's clientele have security concerns so they keep a low profile - including no photos.

Fearless Merrill Lynch team breaks away with $1 billion in broad daylight

Paul Pagnato and David Karp started their day in Washington DC and ended up in Reston, Va.

August 2, 2011 at 5:58 AM

(Pictured in the center) Thong Nguyen: We’ve barely scratched the surface. (Also pictured) Dick Silverman, left, vice chairman, U.S. Trust, and Keith Banks, president, U.S. Trust and co-head, Private Wealth Management, Bank of America

U.S. Trust seeks to add hundreds of wealth managers with West Coast-facing poaching campaign

The challenges are obvious, but with Thong Nguyen directing the effort, the Old Money bank stands a chance in the land of nouveau riche, analysts say

January 3, 2011 at 2:39 PM

Andrew Malloy: We’ve done the heavy lifting.

Luminous Capital makes partners of on-the-loose former Shepherd Kaplan wealth managers

Adding Malloy and Conte was not part of the big LA-based RIA's carefully scripted plans

October 18, 2010 at 4:36 AM

Jim Sotell: Fees that were hidden are coming to the surface. That will put RIAs on a more level playing field with brokers in the retirement plan business.

How the new 12b(1) fee restrictions could transform the financial advisory industry

Brokers selling 401(k) plans may have another nail driven into their coffin

July 22, 2010 at 3:56 AM

Custodians are aggressively hiring good talent to keep up with RIA demand. Schwab's hire of Nick Georgis was a good example of that.

Part II: The things 11 through 20 that show the RIA market is really heating up in 2010

Everything from New York Times recognition to accelerating executive hires suggest the RIA realm is getting hot

March 23, 2010 at 5:46 AM

David Hou and Mark Sear  believe cold calls have a place at an RIA.

Hou-Sear team applies Goldman Sachs marketing approach in second year as RIAs

Luminous Capital uses intensive cold-calling and a breakaway strategy to augment giant referral flow

February 16, 2010 at 5:01 PM

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