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In the News

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.

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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.

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Financial Advisor IQ a Financial Times Service

Wells Fargo’s Indie Channel Growing Faster Than Captives

17:25 19 February in In the News by rafferty

February 15, 2015

By Murray Coleman, Financial Advisor IQ

 

After working more than 35 years at Merrill Lynch, advisor Don O’Neal decided in early 2013 to make a switch. Along with his longtime partner, Teresa Brokaw, he packed up and joined a rival wirehouse. But instead of becoming a captive broker, the pair signed up with the Wells Fargo Advisors Financial Network, or FiNet, the firm’s independent channel.

“It gave us the best of both worlds,” says O’Neal, whose practice manages $175 million and is based in Lynwood, Wash. “We own the business and our clients, but we still get support from Wells Fargo for back-office and investment platforms that are similar to what we’ve used in the past.”

Their story isn’t unique.

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