sidebar

Connect: 319-210-7700

Connect: 319-210-7700

archive

Advisor Group Tag

Investment News logo

Robinhood is snapping up financial advisers. Here’s why.

20:40 28 April in In the News by rafferty

April 27, 2021 By Nicole Casperson, Investment News Robinhood Financial is ramping up its financial adviser recruiting activity, entering the top 20 firms among incumbents by snatching up 40 experienced and licensed advisers from competing firms year to date, according to InvestmentNews‘ Advisers on the Move data. The majority of Robinhood’s adviser recruits this year came from Fidelity Brokerage Services (35%) and TD Ameritrade Inc. (25%), according to the data. A handful of advisers were recruited from other wirehouses and brokerages, including Charles Schwab & Co., Merrill Lynch, Pierce, Fenner & Smith Inc., Vanguard Marketing Corp. and Morgan Stanley, among others. Robinhood’s recruitment activity during the first four months of this year is a stark contrast compared with prior years. The online free trading app recruited 52 advisers for the full year 2020 and...

Investment News logo

In face of pandemic, IBDs proved resilient in 2020

23:55 26 April in In the News by rafferty

April 26, 2021 By Bruce Kelly, Investment News Last year, the 25 largest independent broker-dealers reported $26.6 billion in revenue, an increase of 4.3% from 2019. Although financial results were far from spectacular, growth at leading IBDs last year was resilient in the face of the Covid-19 pandemic and the havoc it caused for the broader stock market. 2020 was anything but a typical year for the industry, particularly for service-focused businesses like independent broker-dealers. Covid-19 caused firms to shut down their offices and send staff home to work. Advisers began learning to click the mute button on Zoom. And adviser recruits stopped flying to distant cities to press the flesh with executives trying to convince them to switch firms. Although financial results were far from spectacular, growth at leading IBDs last year was resilient...

Financial Planning logo

Midsize Advisor Group IBD SagePoint taps head recruiter as next CEO

20:22 22 February in In the News by rafferty

February 18, 2021 By Tobias Salinger, Financial Planning   A midsize Advisor Group firm tapped its head recruiting executive to be CEO, as the private-equity-backed firm seeks a leg up in the highly competitive advisor talent race. SagePoint Financial picked Desireé Sii to replace retiring CEO Jeff Auld after his 13-year tenure, the independent broker-dealer said Feb. 8. Only five other firms out of 50 in Financial Planning’s annual IBD Elite rankings list women as their chief executive. Phoenix-based SagePoint is the fourth-largest firm in Advisor Group’s network and No. 20 in the sector.   Read the full article on FinancialPlanning.com...