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Articles tagged "Louis Diamond"


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David Root: It's a Pittsburgh story. It was a once-in-a-lifetime opportunity to try to take full advantage of our position.

How a $500-million Commonwealth rep became a $5-billion-plus RIA in two years and where Dynasty's M&A war on roll-ups comes in

After forming his own RIA, moving assets to Schwab and partnering with Shirl Penney's firm, David Root just kept M&A-rolling into 401(k) clover

January 19, 2018 at 8:19 PM

Tom Naratil plays catch-up on recruitment withdrawal after setting the early pace.

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

Shirl Penney: People really get angry.

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

Elliot Weissbluth remains firmly in place.

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

Marc Shachtman: Affiliating with HighTower was unequivocally the right choice.

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

Dan Cronin: We’ve only been in these roles for a few months and the word has gotten out to wirehouses.

TruClarity -- a 'Dynasty-lite' -come-lately with a Y Combinator-type twist -- hires Dan Cronin and fellow Fidelity alum Shad Besikof to show its true growth intentions

Backed by a Tampa family office that's served as 'incubator' to local firms for 30 years, the slow-starting outsourcer with nearly $1 billion in RIA assets is gearing up to compete with Dynasty and HighTower

September 28, 2017 at 8:07 PM

HighTower's advisors get a say in who buys the firm.

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

Chip Roame: Frankly, I doubt that there were many other legitimate bidders for NPH.

LPL Financial's tack to roll-up mode -- complete with trash-talking its sweet terms -- may send its rep count sailing past Morgan and Merrill

CEO Dan Arnold's pivot away from seller's market in reps to buyer's market in scooping up rivals on the cheap is an experiment that could work

August 18, 2017 at 6:41 PM

Chip Roame: Frankly, I doubt that there were many other legitimate bidders for NPH.

Chip Roame crosses Bay to proclaim bright future for classic RIAs -- and says a certain wirehouse will go fee-only to become the largest RIA -- at Laser App event

CEO Dan Arnold's pivot away from seller's market in reps to buyer's market in scooping up rivals on the cheap is an experiment that could work

August 17, 2017 at 6:36 PM

Louis Diamond: First, I call my parents Mindy and Howard. That was the first big step.

Mindy Diamond unleashes her 26-year-old son on Wall Street to cut deals and recruit recruiters

Louis Diamond has a Manhattan office, an M&A mindset, a willingness to call his mom 'Mindy' and a green-pasture outlook when it comes to the RIA business

June 30, 2017 at 6:46 PM

Bank of America is finally remaking Merrill Lynch in a Charlotte-streamlined way -- clean with low overhead.

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

Ron Carson: I have never lost that continued drive to fix things that some might say were not broken.

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

Louis Diamond: It’s a black eye to the new CEO, especially with all the rumors of a sale.

LPL fires $10 billion RIA in Kansas City with both parties happy to keep the rift's cause out of view

With fiduciary rules, the economics of RIA custody and LPL fresh off a CEO departure, Resources Investment Advisors Inc. with $4 billion of its own and $6 billion of affiliated assets, declines to say if it's found a new home

February 3, 2017 at 7:17 PM

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