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Author: rafferty

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5 Compliance Approaches That Chase Away Advisor Talent

17:48 01 May in Articles Written by Jon Henschen by rafferty

April 26, 2017 By Jon Henschen, as featured on ThinkAdvisor   Several months ago, I took my wife’s car out on an errand and noticed the front driver side panel protruding out at the seam. I didn’t notice any dents or scratches so I simply pressed the panel back in place. Investigating further, taking a walk around the front of the car and then to the passenger side, I saw scratches and a large dent. It turned out that our teenage daughter had driven into a mailbox as she swerved the car off the road reaching down to the floor to grab a CD to play. There was no mention of the incident until we brought it up, as is so often the case with teenagers, who are at a phase of life...

Fundfire a Financial Times Service

Ameriprise Acquires $8B Indie Brokerage

17:42 26 April in In the News by rafferty

April 25, 2017 By Danielle Verbringe, FundFire   Ameriprise Financial has announced plans to acquire Investment Professionals Inc. (IPI), in a deal poised to add 200 advisors and $8 billion in client assets. IPI, a San Antonio, Texas-based independent broker-dealer which specializes in providing investment programs to banks and credit unions, will operate as a new Ameriprise advisor channel focused on serving financial institutions, according to a press release from Ameriprise. “We see this as a new growth opportunity and another avenue for providing an outstanding client experience,” said Pat O’Connell, executive v.p. of Ameriprise Advisor Group, in an email response to questions. Scott Barnes, chairman and founder of IPI, will serve in an advisory role with Ameriprise. Jay McAnelly, president and CEO of IPI, will also join, reporting to O’Connell. “We’re confident IPI advisors will see...

Will Schwab’s New Hybrid Platform Steal Clients From Schwab RIAs?

16:07 20 March in In the News by rafferty

March 14, 2017 By Janet Levaux, ThinkAdvisor    It's possible that the new offering could lure advisor clients away, argues one recruiter, while another disagrees Charles Schwab unveiled its anticipated hybrid advisory service, Schwab Intelligent Advisory, on Tuesday. Investors seeking both human and digital advice can sign up for the service, which charges an annual fee of 0.28% to manage at least $25,000 of assets (including a quarterly maximum fee of $900). For the fee, investors will receive a specific financial plan, ongoing advice and input from veteran planning consultants, as well as an automated portfolio. The rollout comes six weeks after robo-advisor Betterment launched its own hybrid offerings. “Robo-advisors are now upping their game by providing access to financial advisors in addition to their firm’s automated investment offerings. That [hybrid offering] is a potent combination...