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Author: rafferty

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Van Law to Step Down as Head of Raymond James’ RIA Group

20:25 22 March in In the News by rafferty

March 22, 2018 By Janet Levaux, ThinkAdvisor The departure is ‘surprising news,’ recruiter Jon Henschen says.   Raymond James says that Bill Van Law, president of the Investment Advisors Division, will be leaving the firm on April 2 to “pursue other personal and professional interests.” Van Law, who has been leading Raymond James’ efforts to attract registered investment advisors, is a 15-year veteran with the firm, which is now searching for his replacement. “Bill has had significant impact on our Private Client Group businesses, including the growth and success of the Investment Advisors Division,” said Chairman & and CEO Paul Reilly. “We are grateful for his many contributions and wish him well with his future endeavors.” Van Law joined Raymond James in 2003 after spending 18 years at Merrill Lynch (1984-2002), where he served in various leadership...

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Avoid Guilt by Association

17:26 12 March in Articles Written by Jon Henschen by rafferty

March 12, 2018 By Jon Henschen, ThinkAdvisor ‘Clean advisors’ can and should avoid ‘dirty broker-dealers’; do your homework to avoid big headaches. As an advisor, you relentlessly perform risk assessments for your clients’ portfolios. Yet, one aspect of risk assessment you may ignore is the downside of being an advisor with a clean compliance record who is tied to a broker dealer with problematic compliance and financials. Compliance issues at the broker-dealer level are an area of concern rarely explored by advisors, but they should be. Is your broker-dealer home to a high number of advisors with numerous compliance or credit disclosures? As the Financial Industry Regulatory Authority drills down on anything and everything, a broker-dealer in poor standing with FINRA can make life more difficult for all its advisors — even if you may...

Cetera sale talk another distraction for advisers

17:00 27 February in In the News by rafferty

February 26, 2018 By Bruce Kelly, Investment News Company emerged from bankruptcy less than two years ago; plans to brief advisers Tuesday afternoon A potential sale of Cetera Financial Group could be boon for its private equity owners, but turn out to be another distraction for its 8,000 advisers, who saw the company emerge from bankruptcy less than two years ago. On Friday, Bloomberg News reported that Cetera was exploring a sale that could fetch its private equity owners as much as $1.5 billion. On Monday, the company said it launched an internal review with the objective of optimizing its capital structure, lowering costs and maximizing continued investments. Cetera also said it hired Goldman Sachs & Co. for the review. "It is a distraction," said one Cetera adviser, who asked not to be named. "If management wants...