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On Wall Street
March 1, 2013
Samantha Allen |
HighTower Aims to Lure Top Names with Home Office Visit HighTower Advisors has steadily worked to carve out a role as an emerging boutique firm through its high-profile advisor recruitment wins. Many prospective hires are attracted after their first home-office visit.   |
Registered Rep.
January 3, 2012
Jerry Gleeson |
Raiders of the Wirehouse Ark The emergence of HighTower as a major player in the independent space also dovetails with the changes that have shaken the wirehouse industry since the 2008 financial crash. |
Registered Rep.
August 2, 2011
Jerry Gleeson |
Ex-Merrill Team: HighTower's Model Is Financial Advisory World's iPod HighTower Advisors' latest recruitment prize, a Merrill Lynch private banking team, says it sees big changes coming in the financial advisory world. |
Investment Advisor
August 2009
James J. Green |
Editor's Note: Change Partners Some thoughts from the editor of this publication on the current state of the financial advisory business. |
Registered Rep.
July 14, 2011
Jerry Gleeson |
Wirehouse Breakaways Eye HighTower Model VWG Wealth Management, with assets of $700 million, is the fifth wirehouse team this year to join HighTower Advisors, a Chicago-based hybrid RIA with national reach and $18 billion in AUM. |
Investment Advisor
August 2009
James J. Green |
Free It's the concept and reality of joining a true partnership that has led some of the biggest advisors at the biggest Wall Street firms to join HighTower Advisors. |
Investment Advisor
August 2009
James J. Green |
Camera-Shy CEO As CEO of HighTower advisors, Elliot Weissbluth is the public face and voice of a firm with a unique business model that is backed by some of the smartest entrepreneurs in the advisor and financial services business. |
Registered Rep.
November 26, 2012
Mindy Diamond |
Advisors Sober Up For 2013 While the trend toward independence slowed a bit from previous years, 2012 was the year the independent channel legitimized its place next to the more traditional players. |
Registered Rep.
November 21, 2012
Jerry Gleeson |
Why Wirehouse FAs Pass on the RIA Path Independence is appealing to a growing number of wirehouse advisors, but the RIA route clearly has some challenges for most of them. |
Registered Rep.
November 4, 2011
Kristen French |
Indie Exodus: Overhyped? In 2009, in the wake of arguably one of the biggest financial crises this country has seen since the Great Depression, over 3,000 financial advisors left Merrill Lynch, UBS, Morgan Stanley and Wells Fargo to start life over at an independent broker/dealer or RIA firm. |
Registered Rep.
May 4, 2011
Charles Paikert |
Now for the Hard Part: After Splashy Debut, Dynasty Tries to Woo Wealth Managers Dynasty Financial Partners is now trying to make good on its initial promise to emerge as the preferred service provider for independent wealth managers catering to clients with over $5 million in investable assets. |
Registered Rep.
December 6, 2010
Charles Paikert |
HighTower Adds East and West Coast Recruiters; Plans to Open Six New Offices by April HighTower, the fast-growing and well-funded Chicago-based advisory firm, has raised its profile again, hiring top recruiting executives from Charles Schwab and LPL Financial as it plans to open six new offices by April 2011. |
Financial Advisor
November 2011
Jeff Schlegel |
Back In Gear After a slow period, recruiting is revving up again among broker-dealers. |
Registered Rep.
February 2, 2011
Diana Britton |
RIA M&A Hits Record in 2010, More To Come In 2011 Registered investment advisory firms were furiously busy getting hitched last year: they did the highest number of merger and acquisition deals recorded in at least seven years. |
Financial Planning
January 1, 2011
Jonathan Beatty |
Joining Forces Does your firm have the human resources infrastructure to recruit and integrate a new advisor or team of advisors? |
Registered Rep.
February 23, 2010
Halah Touryalai |
Clients, The New Breakaways First, there was the breakaway broker phenomenon; now, it seems, we have a growing vogue of breakaway clients -- former wirehouse investors who ditch their old advisors for new ones at independent RIAs or broker/dealers. |
On Wall Street
August 1, 2011
Lorie Konish |
Expect a New Wave of Advisor Movement Even with rumblings that Wall Street firms could brace for cost cuts and layoffs this summer, competition for top wealth management talent is poised to remain strong. |
Registered Rep.
May 14, 2013
Mindy Diamond |
The Economics of Choice In many cases, the economics of the independent model can be exponentially better than those being touted by the wirehouses today. |
Financial Planning
July 1, 2009
Paul Menchaca |
Soft Landing Most Wall Street refugees are taking measured steps toward independence by joining an independent broker/dealer, rather than launching a registered investment advisory practice on their own. |
Investment Advisor
September 2009
Melanie Waddell |
Not So Fast Cerulli Associates data suggests there may be fewer wirehouse brokers breaking away. |
Registered Rep.
August 5, 2010
Jerry Gleeson |
Poll: Clients Love Breakaway Wirehouse Brokers Breakaway wirehouse advisors never walk alone. A new report by Aite Group on the independence movement shows that reps from the big houses demonstrate superior client retention when they leave their employers. |
On Wall Street
July 1, 2010
Lauren Barack |
Beating Back The Independents So a mere eighteen months after the sky fell, is it really possible that life at the wirehouses isn't so bad? |
Registered Rep.
March 22, 2013
Mindy Diamond |
Of Myths and Moving: Part IV When it comes to preconceived notions about the wirehouse world and independence, many advisors have it all wrong. Here are the five most common myths advisors have today. |
Registered Rep.
October 30, 2014
Diana Britton |
The Rise of the Mini-Aggregator The rise of the "mini-aggregator" is an accelerating trend: Mature, established advisory firms who have built out their own infrastructure are realizing that they can rent out their back offices and operations. |
Financial Advisor
July 2012
Bernie Clark |
The RIA Universe Advisors should look not just at their own internal business practices but also at the changes and trends occurring across the RIA field. |
Financial Advisor
June 2009
Jeff Schlegel |
Money In Motion The economic crisis has wreaked havoc on wirehouses, and more advisors are looking for new opportunities. |
Registered Rep.
September 24, 2013
Mindy Diamond |
Peeking Over the Fence Is the grass really greener -- and growing faster -- on the other side? Many advisors don't know how limited they are in their growth until they start exploring other options. |
On Wall Street
January 1, 2011
Bill Willis |
Show Me Something Different, I'll Show You Something New The ongoing flight to independence represents the most radical reaction to the modern wirehouse culture. |
Registered Rep.
October 1, 2012
Mindy Diamond |
Lost In Translation Different languages: How communication gaps can kill recruiting for advisory firms. |
Registered Rep.
July 22, 2013
Mindy Diamond |
The Long Road Home Wirehouse firms are recruiting more independent advisors to their ranks than ever before. |
Registered Rep.
July 5, 2011
Jerry Gleeson |
Schwab Finds RIAs Posted Record 2010 Revenue, AUM Average profits surged 45 percent last year among registered investment advisors surveyed, but don't look for a repeat of this year. |
Registered Rep.
February 3, 2011
Jerry Gleeson |
RIAs on the Recruiting Warpath: LPL's Morristown Financial Recruits 70 in 2010 Investors will refer their family and friends to their advisor if they're satisfied with the service. For financial practices that seek to recruit advisors, the game plays by much the same rules. |
Registered Rep.
December 2, 2008
Halah Touryalai |
RIA Consolidators Going After Wirehouse Reps RIA holding companies are opening their arms to welcome wirehouse advisors, but only the cream of the crop: those who have significant assets under management and heavily fee-based books. |
Financial Planning
August 1, 2010
Donna Mitchell |
Who's Planning? A study by Boston-based AiteGroup found that only 18% of independent advisors make financial planning the center of their practice. |
Investment Advisor
September 2010
James J. Green |
Catching Up With... Catching up with HighTower CEO Elliot Weissbluth. |
Registered Rep.
July 8, 2015
Jerry Gleeson |
No Slowing RIA Growth In the financial advisory industry there are potential regulatory burdens, fickle investors, and crafty competitors -- but nothing has changed the relentless march of the registered investment advisor space since the 2008 crash. |
Registered Rep.
February 26, 2010
Christina Mucciolo |
Some Predict Broker Protocol Overhaul Some lawyers and executives anticipate an overhaul to the broker protocol agreement, which has gotten unruly with the growing number of signatory firms, the rising number of exceptions attached to the agreement and the high rate of advisors switching firms these days. |
On Wall Street
March 1, 2013
Lorie Konish |
Editor's Letter: New Client Rewards A run-down of the stories in this issue, including the annual pay scale review, an interview with Neil Barofsky on the financial crisis, and a look inside HighTower Advisors. |
On Wall Street
February 1, 2013
Matt Greenslade |
Competition for Talent in Wealth Industry Stays Strong It s an advisor s market, as firms with diverse practice models strive to nab top talent. |
Financial Advisor
January 2009
Eric Rasmussen |
Revenge Of The Wirehouses Large Wall Street firms dangle big incentives to hang onto advisors. |
Registered Rep.
June 2, 2011
Diana Britton |
America's Top Independent Brokerages The Merrills and Morgan Stanleys of the world say it was never an exodus, the migration is over, and it was only those advisors who couldn't make it in the cutthroat wirehouse world who crossed over to the independent side of the business. |
On Wall Street
September 1, 2011
Bill Willis |
Is Now The Time to Head to Wirehouses? The demise of the wirehouse has been greatly exaggerated. For years, pundits have forecast that a torrent of wirehouse advisors will go independent. But, from where I sit, this torrent has turned out to be a trickle. |
Registered Rep.
April 7, 2011
Kristen French |
Switching To Independent Model Keeps Up Pace Migration to the independent financial advisor model -- independent b/ds and RIAs -- is likely to continue unabated in 2011. |
Registered Rep.
March 5, 2012
Jerry Gleeson |
Team Swaps Merrill for Hightower Over Frustration with International Biz Jordan Waxman, Kenneth Hoffman and Richard Steinberg left Merrill Lynch and joined HighTower, the Chicago-based national registered investment advisor. |
Financial Planning
June 1, 2007
Deborah Doyle McWhinney |
Independents' Day As investment advisors become more popular and profitable, they must find new ways to keep ahead of the competition. |
Registered Rep.
March 12, 2010
Mindy Diamond |
Break Back Brokers Over the last six months, an interesting reverse shift is occurring: the RIA or independent b/d advisor who wants to return to (or go to for the first time) a wirehouse firm. |
Investment Advisor
May 2009
Kelli Cruz |
Walk On The trend of wirehouse advisors joining the independent RIA channel has ramped up significantly in the last several years, and is only increasing in the wake of Wall Street's epic meltdown. |
On Wall Street
August 1, 2010
Aarti N. Maharaj |
The Wirehouse Way While the lure of independence has traditionally been viewed as the ultimate siren song for many advisors, many in the industry are finding good reasons to stay with the big companies. And it's not all about the money. |
Financial Advisor
January 2006
Sydney LeBlanc |
Embracing The F Word US Fiduciary offers a business model that is attracting ultra-high-end advisors who want to be fiduciaries. |
Registered Rep.
May 13, 2009
Christina Mucciolo |
Wall Street Squeezes Small Brokers, Many Go Independent In this brutal market, many advisors are taking payout cuts or being let go. But many of these advisors are finding homes at independent and regional b/ds and RIA firms. |
