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Summary: In searching for a junior partner for her practice a few years ago, advisor Donna Drosner went through several candidates, but none were the right fit.
Added on July 2015 in M&A Issues
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Summary: The wealth management operation at Barclays may have been a small piece of the British bank's business. But at one point it had become a rising star, one which now appears to be falling.
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Summary: Consolidation among financial advisory firms will not only continue in the coming years but also accelerate, according to LPL executives at the firm’s Focus 2015 conference in Boston. But as that industry trend continues, reducing the number of firms, LPL itself expects to recruit more advisors, especially in its RIA hybrid channel, its fastest growing.
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Summary: Though initially slow to gather investor assets, low-cost robo-advisors have begun to accumulate an impressive amount over the past year or so. The largest, Wealthfront, just topped $2 billion under management. More impressive, big platform providers like Fidelity and Envestnet have bought or cut deals with robos as the backbone for consumer or institutional offerings.
Added on July 2015 in M&A Issues
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Summary: A half dozen financial advisers from Barclays PLC’s U.S. wealth-management group, including its former head, have left the firm to form a multi-billion-dollar independent practice with national ambitions.
