Articles tagged "MarketCounsel"
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The broad spectrum friendship of Brian Hamburger and Shirl Penney now includes sharing most of a $5-million bet into proving that SmartRIA lives up to its straight-A name
The principals of MarketCounsel and Dynasty Financial go all-in on software that keeps RIAs all good with the SEC -- without being all-consumed by an unrelenting task.
April 11, 2023 at 1:29 AM
MarketCounsel Summit convenes in Las Vegas with Goldman Sachs there to say: We are already really a $1-trillion custodian
Goldman Sachs used the low key, high traffic event in Nevada to signal to the RIA vendor crowd it's raring to get going with breakaway brokers,
December 10, 2022 at 4:21 AM
SEC crackdown on 'set-and-forget' advice alarms RIAs, who face new 'burdensome' and 'expensive' reporting to curb alleged 'conflicts of interest' over 'deceptive' outsourcing
The spike in RIAs outsourcing functions formerly kept in-house triggered the crackdown, but is the red tape worth it? advisors ask
November 15, 2022 at 3:59 AM
After catching Wall Street red-handed, the SEC is 'coming after' RIAs that fail to track client chats by text, WhatsApp and social media, experts say
The regulator's $1.1 billion in wirehouse fines is a warning to RIAs that not keeping proper records of online chats could paint a bulls eye on their backs as well.
October 4, 2022 at 1:41 AM
The FPA takes 'legal' action to purge 'planner' charlatans from the RIA business -- a plan certain to 'divide' members but align it with its chief gadfly, Michael Kitces
Despite opposition from at least 4% of its own members, the Financial Planning Association is seeking to quash quackery by making it illegal for a product salesman to get labeled as a planner -- a fight that Nerd's Eye View took up last year.
July 22, 2022 at 1:30 AM
Brian Hamburger takes back Miami, gets 98% show rate at MC Summit, then plays devil's advocate for the M&A mania gripping the RIA business
Attendees made the trek to the Fontainebleau Hotel Resort amid health precautions to high-five flesh and do a very in-person reality check
December 9, 2021 at 10:47 PM
RIAs may face ticking time bomb after SEC slams a $1.9-billion RIA for neglecting 'orphan' accounts while charging fees, a problem that may be industrywide
Thousands of clients may be getting lost in the shuffle in the face of strong inorganic RIA growth -- an obscure problem until federal regulators gave Regal Investment Advisors the royal treatment, in part, for charging full fees and failing to disclose reduced service.
October 26, 2021 at 7:39 PM
Schwab upends traditional 'basis point fees' for RIA recruitment and pushes the headhunters to negotiate with advisors for a cut of soft-dollars
The custodian to 10,000 RIAs follows a like move by Fidelity to bring RIAs into the loop on how much recruiters are paid and who pays what amount
March 3, 2021 at 3:42 AM
Merrill Lynch bars brokers from accepting freebies from third-parties but Brian Hamburger sees the play as a classic Wall Street 'card trick'
In a world where RIAs often accept lunches from a wholesalers, the New York wirehouse's out-of-the-blue change of heart has the lawyer saying it looks more like a way of bolstering its position as the intermediary
September 10, 2020 at 3:33 AM
Shirl Penney lands UBS team as Dynasty Financial tower-mate in a sign the breakaway movement remains explosive, despite turning to 'quiet launches' during the COVID-19 pandemic
New deals reflect branches/centralized decision-making as albatrosses in virtual world; Northern Florida is case in point -- sheltering at home is not the local practice.
June 17, 2020 at 2:29 AM
Thanks to a minor explosion in minority-stake deals, RIA M&A is still sizzling but it may be seller beware
For the RIA principal who wants cash, control and chips off the table, it's M&A ambrosia; but sophisticated buyers may be extracting more value than sellers realize
May 27, 2020 at 5:01 PM
Brian Hamburger gets Bill Crager, Joe Duran and a top Schwab executive in swing for 'insider baseball' feel at MarketCounsel Summit
RIA feedback guided toward less 'wow' factor and more RIA behind-the-curtain stuff and the golden oil that lubricates all events -- more recess to mingle and schmooze
November 18, 2019 at 10:36 PM
Shirl Penney and Brian Hamburger gang-tackle largest breakaway of 2019 as Jason Fertitta, Team Americana bolt Morgan Stanley to form Schwab RIA
The Dynasty CEO and MarketCounsel CEO fended off the logistical and legal furies for small team with $6 billion in AUM and average accounts of $50 million
April 29, 2019 at 5:11 PM
T3, held in two-cow town, churns out big news -- much of it about Apprise Labs, RightCapital debuts-- as industry shifts to planning from portfolio management
Joel Bruckenstien lured the RIA world to low-cost Denton, Texas and the RIA world brought stories of breakthrough deals, data and Clever domes
February 6, 2019 at 4:42 AM
Lovell Minnick sinks more capital into TurboTaxifying the RIA compliance market, with roll-up of NCS; but Brian Hamburger and other free-standers see no threat
Like Aquiline with RIA-in-a-Box, the private equity firm says scale and software are key to comply with SEC dictates in the future, but MarketCounsel and Cipperman are betting this ain't like retail tax returns.
