From Think Advisor
Added on September 2014 in Join an RIA
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Summary: A Schwab Advisor Services RIA talent study examined the characteristics of the profession and the paths the advisors had taken. The 571 advisors surveyed shared four different views on the RIA industry: becoming an RIA, being an RIA, career management and recruiting.
From Think Advisor
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Summary: A new breed of wealth client has emerged over the past decade. These clients want to collaborate with wealth management firms when planning for their financial future. A report by CEB TowerGroup says firms that are willing to expend the time and effort to move away from an investment management approach focused on past performance toward a financial-planning-centered one that meets current clients’ broader needs will be rewarded
From Think Advisor
Added on September 2014 in M&A Issues
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Summary: Lucia Capital Group, led by former LPL Financial (LPLA) executive Derek Bruton, says it has inked its first acquisition.On Wednesday, the San Diego-based wealth management firm said it had signed a deal to buy the managed equity and fixed income accounts of West Coast Asset Management, an independent RIA in Santa Barbara, Calif., with some $170 million in client assets that uses Charles Schwab (SCHW) as its custodian
From Financial Advisor IQ
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Summary: Small and medium-size RIAs may have to start formulating succession plans to be in regulatory compliance. If state financial regulators have their way, firms under their purview — essentially RIAs with less than $100 million under management — will have to show they’ve made arrangements to ensure that clients and their assets are safe if a lone practitioner gets seriously ill, has an accident or dies, writes Financial Planning.
From InvestmentNews
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Summary: Advisory firms around the country are looking to hire young professionals like her to help them take on some of the increased tasks of the modern advisory practice, stay current in technology and trends, and attract younger clients. In addition, many advisers who hope to eventually step away from the business without abandoning clients are looking for successors.
