New Alts Training For Advisors

By Andrew Welsch
Source: Financial Planning


Two leading associations of investment professionals are undertaking a campaign to educate their constituents on the importance and role of alternative investment products in the current financial climate. To fill this knowledge gap the Investment Management Consultants Association and the Chartered Alternative Investment Analyst Association are offering an online certificate program that aims to provide a basic understanding of alternative investments and how they can be used to hedge risks.


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With Finra’s Bonus Disclosure Moving Ahead, Practice How To Break The News To Clients

By Liz Skinner
Source: InvestmentNews


Advisers need to practice the pitch they’ll use to persuade clients to switch to a different firm with them, because those conversations could get much more difficult. If the Financial Industry Regulatory Authority Inc. bonus disclosure rule were approved, advisers on the move to a new Finra-regulated firm would be required to disclose to clients incentive compensation they received of $100,000 or more.


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Loving Merrill But Leaving Merrill, Two 38-Year Olds And An ‘Old Guy’ Take $700 Million Of Assets To An RIA Citing The Model’s Better Mousetrap

By Lisa Shidler
Source: RIABiz


Three career Portland, Ore.-based Merrill Lynch brokers walked out the door Friday taking their roughly 70 years logged at the firm and $700 million in assets to Fidelity Institutional Wealth Services — and a new life as independent advisors mostly under an RIA.


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J.P. Morgan Securities Goes On Recruiting Offensive

By Mason Braswell
Source: InvestmentNews


J.P. Morgan Securities is stepping up its game and hoping that top financial advisers will take notice. The firm, which operates as the retail brokerage arm, has made a number of notable moves in recent months to make sure that its name is more prominent in the eyes of top advisers. After bringing on nearly $1.2 billion in assets from veteran advisers, it signed the Protocol for Broker Recruiting last month and has been enlisting most top-name recruiters to help spread the word.


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More On Building A $250 Million Practice

By Dan Richards
Source: Advisor Perspectives


In last week’s column, I outlined the first four steps a rookie advisor needs to take to build a $250 million practice within 10 years: Find the right client community in which you can stand out; clearly define how you’re going to deliver value to that niche; identify the clients with whom you work; build your profile and credibility to become the safe choice for investors in your niche.


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A 32-Year-Old Kansas Advisor — At All Upheaval Costs — Followed His Mentor To Mariner Wealth Advisors

By Kelly O’Mara
Source: RIABiz


When Justin Richter left a bank last year to join a different one in the same city, he went through the process of gradually moving his clients over and building up a new book of business. Changing firms typically causes upheaval.


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After FINRA Win, Breakaway Advisor Wants Others To Follow

By Charles Paikert
Source: Financial Planning


A breakaway broker who beat back a costly legal challenge from Edward Jones is hoping other advisors will follow his lead. John Lindsey, who left Edward Jones in 2012 and won a FINRA arbitration case against his former firm last summer, has launched The Bold Advisor website to provide support, guidance and information to other advisors considering leaving large wirehouses to go independent.


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Raymond James Program Grooms Associates For Advisor Roles

By Janet Levaux
Source: ThinkAdvisor


Raymond James (RJF) said Wednesday that it aims to train a number client associates each year to become advisors. This move comes on the heels of a pilot program for associates, which it started last year, to boost the number of female advisors and to groom successors for retiring advisors.


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Wirehouse Breakaways Must Wait For Profits

By Chris Latham
Source: Financial Advisor IQ


Brokers who break away from wirehouses often do so because they’re tired of handing 60% to 70% of their hard-earned revenues over to their employer. But advisors who have taken the plunge into independence say they generally have to wait quite a while before breaking even, let alone turning a profit. Many face unexpected costs when setting up shop for themselves, and even those who partner with hybrid RIAs make sacrifices in the early days, experts say.


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The New, New Independence

By Mindy Diamond
Source: Wealth Management


With more wirehouse and regional advisors seeking greater independence, control, autonomy, superior economics, and the ability to customize the client service experience, independent models have been big winners. In fact, more independent models have been born in the last two years than ever before. Today, those who had been reluctant to leave their firms, thinking no exceptional alternative existed, may want to take another look at the expanded landscape.


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