Advisor Business
Chicago-Based MBA And Derivatives Consultant Points To Fraud As Cause Of 2008 Crisis
The research of an industry critic who correctly predicted the fall of the thrift industry and of Enron says the 2008 credit crisis was caused by a web of fraud by mortgage originators, securitizers, and regulatory and ratings agencies.
It's Not A Merger; It's Not A Buy-Out; It's A Partnership For Growth
A new partnership of RIAs has been formed to solve some of the biggest challenges facing independent RIAs today. The critical need for succession, offering ownership to a new generation of advisors, and maintaining continuity for clients in the process are behind the combination of Savant Capital Management and The Monitor Group to form Savant Capital LLC, a national firm worth $2.7 billion.
This will enable both firms to retain control of their businesses instead of selling to an aggregator. It also solves the issue of affordability of new advisors to buy into a partnership.
Bill To Make FINRA The SRO For RIAs Reintroduced, Sparking Protest In Some Quarters And Approval In Others
The campaign to make FINRA the self-regulatory organization for Registered Investment Advisers was renewed today as House Financial Services Chairman Spencer Bachus reintroduced legislation that would create the SRO.
With reporter Melanie Waddell of AdvisorOne recently predicting that creation of the FINRA SRO was imminent, the reintroduction of the bill by Bachus sparked protest in some quarters of the advisor business but was welcomed by others.
EF Hutton To Be Relaunched By The End Of 2012
Remember the old EF Hutton commercials that said, “When EF Hutton talks, people listen?” By the end of the year, you’ll hear that famous slogan again. Frank Campanale, the former head of the Smith Barney Consulting Group, will be the CEO of the resurrected firm.
The Number Of Asset Management Firms Buying Independent RIAs Is Rebounding
The mergers and acquisitions action is heating up on the RIA front. Independent RIAs were swallowed up by asset management firms at a soaring rate during the first quarter. Seventeen firms merged or were acquired. Out of the 17, nine involved advisors moving from wirehouse firms.
More Articles ...
- Website For Do It Yourselfers Throws Down The Gauntlet, Declares "Financial Advisors Are Bad For Your Wealth"
- Suicides Linked To Economic Crisis Spike In Europe; Meanwhile, Here At Home, American Psychological Assocation Offers No Special Training For Psychologists To Treat Problems Related To Money
- Fewer Advisors Actually Make The Move To Independence Than Previously Thought
- Satirical Video Pokes Fun At Brokers; Alex Murguia's Latest Contribution To The Financial Advice Profession
