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Author: rafferty

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Robinhood is snapping up financial advisers. Here’s why.

20:40 28 April in In the News by rafferty

April 27, 2021 By Nicole Casperson, Investment News Robinhood Financial is ramping up its financial adviser recruiting activity, entering the top 20 firms among incumbents by snatching up 40 experienced and licensed advisers from competing firms year to date, according to InvestmentNews‘ Advisers on the Move data. The majority of Robinhood’s adviser recruits this year came from Fidelity Brokerage Services (35%) and TD Ameritrade Inc. (25%), according to the data. A handful of advisers were recruited from other wirehouses and brokerages, including Charles Schwab & Co., Merrill Lynch, Pierce, Fenner & Smith Inc., Vanguard Marketing Corp. and Morgan Stanley, among others. Robinhood’s recruitment activity during the first four months of this year is a stark contrast compared with prior years. The online free trading app recruited 52 advisers for the full year 2020 and...

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In face of pandemic, IBDs proved resilient in 2020

23:55 26 April in In the News by rafferty

April 26, 2021 By Bruce Kelly, Investment News Last year, the 25 largest independent broker-dealers reported $26.6 billion in revenue, an increase of 4.3% from 2019. Although financial results were far from spectacular, growth at leading IBDs last year was resilient in the face of the Covid-19 pandemic and the havoc it caused for the broader stock market. 2020 was anything but a typical year for the industry, particularly for service-focused businesses like independent broker-dealers. Covid-19 caused firms to shut down their offices and send staff home to work. Advisers began learning to click the mute button on Zoom. And adviser recruits stopped flying to distant cities to press the flesh with executives trying to convince them to switch firms. Although financial results were far from spectacular, growth at leading IBDs last year was resilient...

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Don’t Treat Others In The Workplace As Equals, Treat Them As Unique Individuals

17:45 14 April in Articles Written by Jon Henschen by rafferty

April 13, 2021 By Jon Henschen, FA Financial Advisor Within a family unit you find little in the way of equality, as first-born children have clear advantages over succeeding siblings. First-born children are higher achievers, born leaders, and have higher IQs on average. They are 30% more likely to be CEOs because first born are doubly blessed—lavished with their parents’ attention and then entrusted to act as the rules enforcer of the family, which builds in them intelligence, discipline, and leadership qualities. Thomas Sowell, economist, social theorist and senior fellow at Stanford University’s Hoover Institution extrapolates on this reality when he asks, “If you cannot achieve equality of performance among people born to the same parents and raised under the same roof, how realistic is it to expect to achieve it across broader...