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Author: rafferty

ThinkAdvisor

McGinnis Steps Down as CEO of Advisor Group

22:47 01 August in In the News by rafferty

August 1, 2016

By Janet Levaux, ThinkAdvisor

 

Valerie Brown will lead the group of IBDs as it moves from AIG to Lightyear Capital

Erica McGinnis, who has led the Advisor Group for the past three years, is stepping down from the post. Executive Chairwoman Valerie Brown temporarily replace her as president and CEO, and Brown and McGinnis will work together as the Advisor Group moves from being a part of insurance giant AIG to being owned by the private-equity firm Lightyear Capital.

“Erica McGinnis has accepted a role of executive vice president, head of transitions – leading the separation from AIG,” said spokesman Kevin Dinino, in a statement. “A search is underway for a new president and CEO … As president and CEO,

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Is Private Equity IBDs’ Savior or Sorcerer?

20:28 01 August in Articles Written by Jon Henschen by rafferty

By Jon Henschen

As featured in the August issue of Investment Advisor magazine

 

Private equity firms have increased purchasing activity of BDs, but it’s a mixed bag for the firms being bought

Several years ago, I attended a third-party recruiter gathering hosted by an insurance-owned broker-dealer that was working to attract advisors. During the day-long meetings, the president of this broker-dealer brought up private equity (PE) with a grimace on his face and proceeded to talk about it in terms of deep disdain. His narrative was that as recruiters, we should avoid PE-owned broker-dealers and instead funnel our candidates to the safety and stability of an insurance-owned broker-dealer. In a twist of fate, a PE firm now owns this broker-dealer.

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DOL, SEC Fee Scrutiny Sparks Shift to Passive Investing

17:58 29 July in In the News by rafferty

July 28, 2016

By Melanie Waddell, ThinkAdvisor

Use of passively managed funds and ETFs at indie BDs and wirehouses will accelerate, says Broadridge

As regulators zero in on ensuring investors aren’t being soaked in fees, independent broker-dealers and wirehouses are abandoning actively managed funds and embracing passively managed ones and ETFs, according to new research by Broadridge.

“During the first half of 2016, net new assets for passively managed mutual funds increased by $37 billion, or 14%, for the retail distribution channels, while actively managed funds were down by $24 billion, or 0.6%,” Frank Polefrone, senior  vice president of Broadridge’s data and analytics business, said Thursday in releasing results from the firm’s most recent Fund Distribution Intelligence research.

During the first half of 2016,

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