Brokerages may end up hunting for new custodians if a proposal intended to speed up asset verification is approved.
Some advisors claim that limiting mutual fund fees will leave smaller investors out in the cold, but here's how this RIA has built a firm that serves small and large clients without commissions.
The SEC wants registered investment advisors to describe themselves to clients and prospects in plain English, something likely to require significant time and money.
Evercore Wealth Management CEO Jeff Maurer--and many partners at his RIA--adjust to a new life.
Now that they've experienced the harsh consequences of poor business management, fee-based advisors are looking to their custodians and broker-dealers for all the help they can get.
Advisor Emporium
Many advisors wait until the last minute to sign authorizations that allow third-party custodians to share clients' positions with the SEC. That could hold up an SEC examination for months.
Fidelity Investments says it had helped spring some 95 breakaway brokers and teams from their firms and go independent in the first half of 2010.
The SEC today posted a form for people to comment as part of its study of obligations and standards that should apply to broker-dealers and registered investment advisors.
Two financial advisors won $2 million in arbitration from a retirement-plan advisory firm they left Merrill Lynch to join in 2008, only to be let go the following year.
TD Ameritrade Institutional announced Wednesday that 212 breakaway brokers have joined its network during the first three quarters of its fiscal year 2010.
State securities regulators are upset over what they say is a plan by the SEC to drop a shared system that has gathered information on RIAs and made it available to the public.
Broker-dealers and financial advisors say they're satisfied for the most part with the overhaul bill passed by the Senate and are now gearing up to help shape the changes.
Traditional e-brokers aren't likely to lose their most-prized customers--active traders--to Bank of America Corp.'s new Merrill Lynch online brokerage.
RIA firms estimate that they'll see 15% revenue growth this year. An emphasis on efficiency will free principals to go after new business again.
Frontline News
It's not just clients who don't understand what people who hold themselves out as financial advisors are obligated to do for them. A new survey shows that many advisors are confused, too.
Financial advisors are typically lured to new brokerages with generous promises, but promises don't buy happiness. Contracts do.
Building an in-house business consulting group, Derek Bruton is trying to help advisors at LPL adapt to the Darwinian business climate.
Advisor Emporium