The Wire

October 7, 2019

John Furey explains the biggest mistakes advisors make (video)

October 4, 2019

Top RIAs weigh in on industry talent shortage

Three of the RIA industry’s top advisors have three different solutions for the wealth management business’ demographic issues.

In a panel discussion at the Citywire RIA Retreat in Austin, Texas, Savant Capital Management’s Brent Brodeski, Exencial Wealth Advisors’ John Burns and Beacon Pointe Wealth Advisors’ Matt Cooper revealed how they identify young talent in an industry some argue is beginning to look elderly.

‘This industry is doing a horrible job, terrible job at talent development,’ said John Furey, managing member of RIA think tank aRIA (the Alliance for RIAs). ‘It needs to do better and the challenge is everyone is a small business, not Merrill Lynch. That’s where wires and big firms are advantaged.’

September 30, 2019

Under pressure: Is the RIA industry morphing into the brokerage biz?

When asked, financial advisors who have fled the ranks of the wirehouses typically cite a handful of reasons for why they left the brokerage industry.

Some argue that they wanted to own their clients and equity in their business. For others, becoming an RIA stemmed from a desire to free themselves from their employer’s investment proposition and create their own portfolios.

But the world they’ve entered may start to resemble the one they left.

August 26, 2019

Advisors Are Bolting – and Not Always for More Cash. How RIAs Can Keep Staff Happy.

Advisors are going places – literally.

According to a Cerulli Associates study, more than 5,500 RIAs (independent and hybrid) switched firms last year, representing 10% of all RIAs. Yet  across all channels, these advisors had demonstrated loyalty, with an average tenure of 11.3 years at their current firm, before moving on with $380 billion in assets combined.

July 30, 2019

The Story Behind the Data: Are Associate Advisors Getting Stiffed?

Profit margins, revenues and assets under management are up at RIAs, to the benefit of everyone except associate financial advisors.

The operating profit margin for the typical RIA was 20.9% in 2018, up more than one percentage point from the previous year. Median assets and revenues are expected to grow 13.5% and 9.1%, respectively, in 2019, according to a TD Ameritrade Institutional FA Insight study released today. 

June 30, 2019

Dynasty Financial was like the roll-up with no financial engineering; now Shirl Penney is hacking capital left and right for an M&A machine and a poaching parlor

Dynasty Financial Partners is delving deeper into financial engineering -- rolling out an M&A department on a fairly grand scale and a '"Freedom Note" that some joke is quite the opposite for the advisor.

The St. Petersburg, Fla. firm of 70 employees, which has 47 big RIAs and their $35 billion of assets, is ready to pull out all stops for growth. It's putting a new emphasis on putting capital into RIA hands by either to allow them to buy back their own freedom from wirehouses or to aid the RIAs in buying other RIAs.

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