Articles tagged "Diamond Consultants"
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'Schwabitrade' RIA assets leap $107 billion in NNA to $3.75 trillion in first half of 2023, and just 20% of TD Ameritrade RIAs have yet to 'credentialize'
The RIA assets of TD Ameritrade Institutional and Schwab Advisor Services grew an incredible $514 billion for the 12 months ended June 30, but the real conversion looms on Labor Day.
July 22, 2023 at 1:38 AM
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
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
Mike Sha's robo-advisor faced tough choices until two wirehouses offered unique partnerships -- and maybe a new business model to boot
Sure, the SigFig's founder plays by some of UBS's rules in taking its financial backing and giant systems account but beyond that, the freedom to cavort with Wall Street rivals is pretty unlimited.
June 14, 2018 at 3:46 PM
LPL shares skyrocket near to $72 after signaling to Wall Street a cheaper, better way to lure assets and advisors
The Fort Mill, S.C.-based firm may cut salaries and commissions to recruiters and give advisors more benefits directly
May 22, 2018 at 4:12 PM
LPL Financial pulls pricing lever after Bill Hamm moves to yank $12 billion and 500 advisors off the IBD's line
The CEO of Independent Financial Partners will take 12 months move the asset trove to his own broker-dealer giving LPL time to woo reps looking for the door
May 3, 2018 at 10:01 PM
LPL Financial wages 'war' on Cetera, Securities America and Kestra after they pounced on NPH advisors in wake of sale
Unheard-of packages, tight targeting and unusual timing rock recruiters who marvel at the competitive behavior that has Bill Morrissey escalating an epic battle
April 12, 2018 at 6:39 PM
How UBS exited the Broker Protocol and why the aftereffects may surpass those of Morgan Stanley's earlier departure
Using Thanksgiving and the alleged complicity of his firm's attorneys as a smoke screen, CEO Tom Naratil made good on warning to slam the door on his sales force
November 28, 2017 at 2:37 AM
Timing of Morgan Stanley's Broker Protocol withdrawal sends shocks through RIA legal and recruiting circles
Hundreds of planned and in-process breakaways are reassessed after keeper of the list, Bressler, Amery, & Ross, sat on the change for a week but a silver lining is already emerging
October 31, 2017 at 3:08 AM
HighTower finds hundreds of millions to cash out itchy shareholders
Thomas H. Lee Partners likes financial firms -- especially ones with big cash flow and potential for operational efficiencies
October 25, 2017 at 3:59 PM
HighTower hooks a 'rare' Miami catch of a JP Morgan Private Bank stripe at a crucial moment
As sales chatter hits a fever pitch on the conference cocktail party circuit, the Chicago roll-up affiliates with a white shoe recruit and gains some needed business-as-usual credibility
October 5, 2017 at 11:23 PM
The HighTower Advisors 'for-sale' rumors grow to include a named suitor
Source says Oppenheimer is consummating a deal but observers question how HighTower could graft its roll-up onto the aging B-D
September 1, 2017 at 2:24 PM
Merrill Lynch's second act for RIA reinvention is revealed but may yield 'field day' for classic RIAs in the short term
The wirehouse's mothballing of mega-bonuses, directed from Charlotte, removes giant impediment to poaching but may lay groundwork for nationwide, talent-nurturing virtual RIA
May 26, 2017 at 7:04 PM
One effect of Ron Carson's exit from LPL after 27 years: His firm disclosed the use of forgivable loans to the SEC
Carson Wealth Management is both an advisor and an advisor platform and Carson says neither he nor his firm 'took a check' in any form
March 3, 2017 at 10:46 PM
New LPL CEO Dan Arnold thrills Wall Street in debut by laying out vanilla vision
Deflecting talk of RIA strategies and alliances with giants aside, Mark Casady's successor says LPL Financial's recruiting machine is poised to crank in DOL turmoil cast-offs
