Independent advisory firms are winning new employees from Wall Street wirehouses: experienced brokers who like the RIA model but don't want to run a business.
by
Ray Fazzi
Charles Goldman, who joined Fidelity about a year ago after leaving
arch rival Schwab Institutional, is leaving the company at the end
of March, according to a company spokesman.
by
Dorothy Hinchcliff
Schwab announced today that it helped a record number of brokers go independent in 2009.
by
Ray Fazzi
Apparently benefiting from Wall Street's troubles, Fidelity Investments
said today it helped a record number of brokers go independent in 2009.
A new rule requiring some RIAs to undergo annual surprise audits may help stem the kind of malfeasance con artist Bernard Madoff has come to represent. But many RIAs won't be subject to them.
by
Jeff Schlegel
A class-action lawsuit in South Carolina
alleges that Charles Schwab & Co. is liable for its role in a Ponzi
scheme because it was the broker-dealer for the victims of the scheme.
The change in strategy for Citigroup Inc.'s wealth management group
will start to get reflected in advisors' paychecks next month.
Headhunter Danny Sarch has a simple reminder for those who
want to make brokers adhere to fiduciary standards of service for the
sake of protecting consumers. "Madoff was an RIA," he said.
by Edward K. Riley
Why affiliating with a broker-dealer makes sense for some advisors who want to go independent.
Financial Services Overhaul Getting Closer
December should be a busy month for those involved with overhauling the U.S. financial services industry...
The team structure is nothing new to Wall Street brokerages. Nor is the
idea that it can make it harder for restless advisors to break away,
and take clients with them.
Educating brokers about the independentfinancial advisor model may be the key to growth for custodians, who safeguardclient assets for independent advisors.
by
Ray Fazzi
Investors are not as afraid
of keeping their money in the stock market as might be expected, even after
last year's disastrous market collapse, says a new survey by Vanguard.
by
Jeff Schlegel
A trifecta of statistics from Charles Schwab shows that the market
remains fluid for advisors on the move when it comes to changing
channels, M&A activity and management buybacks of advisory...
by
Dorothy Hinchcliff
Schwab Advisor Services is eliminating fees on a database that helps advisors sell and buy other firms, a move that's part of a broader effort to enhance services for independents.
by
Dorothy Hinchcliff
Parents of high school children say the amount of their
kids' total college education costs that they can cover has dropped
nearly 27% from last year, according to a Fidelity Investments survey.
by
Dorothy Hinchcliff
In an effort to win more RIA business, Fidelity Investments is initiating a sweeping series of prices
reductions for fees, services and products associated with its
custodial services platform.
by
Ray Fazzi
Schwab Institutional has
launched a redesigned Web site for its independent advisors.
