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1 week ago | 
citywire.com | Alex Steger |Ian Wenik |Sam Bojarski |Alan Walsh
Alex Steger, Ian Wenik and Sam Bojarski break down Sam’s feature on how a new proposal from Finra governing advisors’ outside business has some up in arms, discuss Ian’s latest scoop on LPL’s battle to retain Commonwealth advisors and look at the current balance of power among custodians. Already have an account? Do you personally advise on or manage investments for clients?
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3 weeks ago | 
citywire.com | Alex Steger |Ian Wenik |Andrew Foerch |Alan Walsh
Alex Steger, Ian Wenik and Citywire RIA deputy editor Andrew Foerch discuss Commonwealth Financial Network’s push to get as many of its advisors to stay on board through its sale to LPL as possible as rivals circle, highlight one multi-billion dollar team which has left, and provide an update on the legal battle between LPL and Ameriprise.
P.S. As promised, here is to our ‘Steakhouse or RIA?’ quiz. Already have an account?
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1 month ago | 
citywire.com | Alex Steger |Ian Wenik |Alan Walsh
Alex Steger and Ian Wenik do a deep dive into LPL Financial’s $2.7bn acquisition of Commonwealth Financial Network. They discuss how Ian broke the story, what the immediate impact is around the industry, and who’s in position to win (and lose) as the deal gets finalized. Already have an account? Do you personally advise on or manage investments for clients?
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2 months ago | 
citywire.com | Sam Bojarski |Alec Rich |Ian Wenik |Alan Walsh
Summit Financial continued its rapid pace of RIA investments on Friday, staking a fellow New Jersey-based firm.
Summit made the investment in Gateway Advisory, an $830m AUM firm, via Summit Growth Partners, the RIA’s partnership network.
Specific financial terms of the deal — including the size of Summit’s stake — were not disclosed, but the Gateway team will join Summit’s headquarters in Parsippany as a result, the company said. Already have an account?
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2 months ago | 
citywire.com | Sam Bojarski |Ian Wenik |Lawrence Lever |Alan Walsh
For RIAs, it’s grow or die. That may be a tad hyperbolic, but consolidation in the wealth management industry and tough competition for clients has put pressure on firms of all sizes to generate new business. In the fifth of six videos from the Citywire RIA CEO summit, Merit Financial Advisors president Kay Lynn Mayhue and Cerity Partners head of partner development Claire O’Keefe explain the biggest pressures they see on their companies. Already have an account?
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2 months ago | 
citywire.com | Sam Bojarski |Ian Wenik |Lawrence Lever |Alan Walsh
Arbitrators have ordered Stifel Financial’s broker-dealer to pay nearly $133m in damages and fees over a structured note strategy run by a Miami-area brokerage representative.
An arbitration award published Wednesday by the Financial Industry Regulatory Authority (Finra) shows that the award relates to conduct by broker Chuck Roberts, who according to the BrokerCheck database joined Stifel in 2016 from Morgan Stanley.
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2 months ago | 
citywire.com | Ashley McConnell |Ian Wenik |Lawrence Lever |Alan Walsh
Pershing, the RIA clearing and custody division of multinational bank BNY, is developing a new referral program for its wealth manager clients, according to sources with knowledge of the situation.
Nancy Gordon, the newly hired head of advisor growth at Pershing, is overseeing the project, sources told Citywire. Gordon joined Jersey City, N.J.-based Pershing in September of 2024 from Bakkt, a cryptocurrency trading software company.
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2 months ago | 
citywire.com | Ian Wenik |Ashley McConnell |Lawrence Lever |Alan Walsh
Kick up your cowboy boots and join Citywire RIA in Nashville for our upcoming CIO Summit, taking place May 8th and 9th at the W Hotel!This event is free to attend, with travel and accommodations for CIOs and RIA investment committee members covered by Citywire.
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2 months ago | 
citywire.com | William Johnson |Ian Wenik |Lawrence Lever |Alan Walsh
The legendary journalist Hunter S. Thompson once described the Kentucky Derby as ‘decadent and depraved.’ Are RIAs living in a similar environment? Years of market appreciation have covered up weak growth and operational inefficiencies at some firms. Focus Partners Wealth chief executive Adam Birenbaum discussed what might happen to some RIAs during an extended downturn at the inaugural Citywire RIA CEO Summit. Already have an account?
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2 months ago | 
citywire.com | Alec Rich |Ian Wenik |Lawrence Lever |Alan Walsh
Triad Partners has tapped a former Carson Group technology executive to serve as its first chief technology officer, the firm announced Wednesday.
Quin Kilgore, who spent over 11 years at Carson including most recently as the mega-RIA’s senior vice president of technology, began at Triad last week.
