Added on April 2017 in Form an RIA
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Summary: There is some debate as to the official launch of the breakaway advisor movement, when advisors began leaving the shackles of the captive wirehouse environment for the freedom and independence of the RIA community. In order to pinpoint an exact date, we not only need to consider the exodus of advisors, but we also need to consider at what point was there a true RIA industry that advisors could break away to.
Added on February 2017 in Form an RIA
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Summary: Financial advisors choose to go independent for several important reasons: First, the economics of going independent are far superior to all other channels. In addition, independent financial advisors own 100% of the equity in their practices.
Added on February 2017 in Form an RIA
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Summary: In what could amount to a break with former comments, Merrill Lynch could delay changes it pledged to make to comply with the fiduciary rule.
Added on February 2017 in Form an RIA
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Summary: It might surprise you to hear that it is often the most productive and successful wirehouse advisors – usually those who service the highest net worth clients – who feel the most “stuck”. It is their belief that the wealthier and more discerning the client base, the more wed those clients are to the big name firms; that is, the wirehouses.
Added on February 2017 in Form an RIA
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Summary: Once President Trump won the election, it was widely believed it would be a matter of time before he issued an executive order to delay April’s rollout of the Department of Labor's fiduciary rule. Yet, the final version of the memorandum that the president signed on Friday did not match the originally circulated draft and it did not actually include a provision to delay the regulation after all, despite wide reporting to the contrary.
