RepStreet » Going Independent

Trying new things to win advisers business

Anthony — Mon, 16 Nov 2009 21:47:01 +0000

Many believe that independent broker dealer business will grow and some are adding new strategies to bring over business….

http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20091115/REG/311159978/-1/Topic

Using technology to lure in advisors

Anthony — Fri, 13 Nov 2009 16:53:53 +0000

Some firms are using their platform upgrade as a tool to recruit advisors…

http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20090719/REG/307199974/-1/Topic

Brokers in transition

Anthony — Wed, 11 Nov 2009 21:27:09 +0000

Brokers looking for new homes and transitioning, some might say they are not big producers but…

http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20091111/FREE/911119977/-1/Topic

RIA Assets Shrinking

MoneyElement — Tue, 10 Nov 2009 20:37:35 +0000

The annual reports of IAA and NRS revealed that the total number of SEC RIAs has grown 2% to 11,257 however the their assets under management shrunk 20% after reaching over $42 trillion back last year. We see growth in the amount of smaller firms in the RIA world however they are now looking at assets under management of les than $1000 million. This is what David Tittsworth, executive director of the Investment Adviser Association (IAA) had to say: “First, assets fell across the board, and firms that were once considered larger or medium-sized dropped into the smaller firm category. Obviously this year some of the change is because assets just fell for everybody—so larger advisors fell into the smaller categories,” Second, he notes of the new RIAs:“I don’t have data to prove it but I suspect that some must be attributable to breakaway brokers. Every number in the report is from ADV amendment files, and they don’t ask, ‘were you a broker before?’”

Raymond James raises RIA minimums

Don — Wed, 04 Nov 2009 21:56:31 +0000

Registered Investment Advisory firms that wish to clear their RIA business through Raymond James will be facing higher minimum requirements to conduct business. The increased minimum is now $50 million under management to be considered for clearing through the Raymond James network. This is an increase of $20 million from $30 million. Other broker dealers that are supporting Registered Investment Advisory firms are not planning to raise their minimums.

Wirehouse Advisor Transitions Slow

Don — Wed, 04 Nov 2009 21:53:16 +0000

According to a recent report from Discovery Database, only 361 wirehouse advisors changed firms in October. Of the wirehouse advisors that move, 34% moved to another wirehouse and 18% went independent, and 11% went to regional firms. A review of a full year’s worth of data revealed that 24,441 advisors changed firms betwen October 2008 and October 2009, of which 40% were from wirehouses.

Is this a sign that transitions are slowing down and advisors are now happy with their current firms, or is it that they are waiting on the registration renewals to be complete for 2010 before transitioning.

LPL reps looking for new home

Anthony — Wed, 04 Nov 2009 21:49:22 +0000

Many registered reps are thinking of transitioning….

http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20090823/REG/308239976/-1/Topic

Bad News for UBS

MoneyElement — Tue, 03 Nov 2009 21:39:14 +0000

The company is reporting bad third quarter losses. Seams UBS cannot keep its advisors happy and they continue to walk out the door leading to major losses in market share from competitors. It has been reported that the division has seen so far outflows of client’ assets close to $9.6billion for the quarter, and loss of net 653 financial advisors.

LPL agrees to pay

Anthony — Fri, 30 Oct 2009 21:10:09 +0000

LPL agrees to pay 1.3M….

http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20091029/FREE/910299989/-1/Topic

Optimism for advisors

Anthony — Thu, 29 Oct 2009 20:56:04 +0000

Optimism for advisors in the industry….

http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20090914/REG/909149978/-1/Topic