From RIABiz
Added on October 2016 in M&A Issues
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Summary: The RIA business will likely face two Department of Labor rule-related expenses that will have them applying crowbars to their tightly folded wallets, according to speakers at the ECHELON Partners Deals & Deal Makers Summit, hosted this week in New York by its founder, Dan Seivert.
From Financial Advisor IQ
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Summary: TD Ameritrade and Toronto-Dominion Bank are shelling out $4 billion for online discount brokerage Scottrade Financial Services, which includes its banking operations, Bloomberg reports.
From FA Magazine
Added on October 2016 in Form an RIA
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Summary: The DOL rule could give a boost to the RIA breakaway business if more wirehouse reps shift to a fee-based model, said Walt Bettinger, CEO of Charles Schwab Corp.
From InvestmentNews
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Summary: It's time for financial advisers to tune up their business development engines. Just over half of all advisory firms missed their growth targets last year when flat U.S. stock markets failed to rev up their assets under management.
From Financial Advisor IQ
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Summary: After 22 years with Arnerich Massena in Portland, Ore., advisor Sheree Arntson left earlier this month to start Allium Financial Advisors. Her team, which includes one other advisor, managed about $1 billion at Arnerich Massena. The new firm has hired Portland-based Tru Independence for back-, mid- and front-office support.
