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Ameriprise To Buy Florida-Based JHS Capital

22:42 28 April in In the News by rafferty

April 28, 2015 By Megan Leonhardt, WealthManagment.com Ameriprise Financial is set to acquire Tampa-based JHS Capital in a deal that will add 150 advisors and $4.1 billion in client assets to the Minneapolis-based firm's balance sheet. Ameriprise said Tuesday it signed a definitive agreement to acquire the retail assets of JHS. Details regarding the cost of the deal were not disclosed. “This is a natural fit in terms of both firms’ shared commitment and dedication to providing outstanding service to clients. We look forward to helping JHS advisors grow and serve their clients under the Ameriprise banner,” Neal Maglaque, Ameriprise chief operating officer and head of business development within the company’s advice and wealth management division, said in a statement. JHS, which started off as Pointe Capital until John Sykes acquired the firm in 2009,...

financial advisors

The Next Rung

15:53 13 April in In the News by rafferty

By Dan Jamieson April 1, 2015 Financial Advisor   After last year’s frenetic merger activity, together with strong equity markets and a competitive recruiting environment, independent broker-dealers are recommitting to organic growth. They’re also making plans to reinvent themselves for the next generation of advisors and investors, by building practice-management and consulting services, addressing the challenge of planning for succession and beefing up their technology—even by coming up with some robo-like offerings. Last year, the industry was fixated on the rampant merger activity of real estate investor turned broker-dealer player Nicholas Schorsch and his RCS Capital Corp. (RCAP), which purchased Cetera Financial Group. That changed in the wake of an accounting scandal late last year at Schorsch’s American Realty Capital Properties. After that, the REIT mogul ended any associations he had with his publicly traded...

Financial Advisor IQ a Financial Times Service

Can a Site Built on Broker Rumors Make Money?

16:51 03 March in In the News by rafferty

March 3 , 2015 By Joan Warner, Financial Advisor IQ   The website Josh Brown has called “the most important site in finance” may finally be able to monetize its popularity. When AdvisorHUB made its debut in January 2014, founder Andrew Parish expected readers would pay a modest subscription fee to get the gory details of recent broker recruiting deals. Underwhelmed by the number of people who initially signed up, Parish — who has done time as both an FA and a headhunter — made the site free and created a “rumors” feature, where advisors and their bosses can submit anonymous comments and rants. Readership quickly exploded. AdvisorHUB now has 256,000 registered subscribers, according to Parish, and monthly unique page views hit 601,000 in February. Just 11 people produce the site, working out of Columbus, Ohio, and a...