Advisor Business
Private Equity Firm Buys A Piece Of $4 Billion Houston RIA
Houston-based Avalon Advisors has picked up a fresh investment from the Carlyle Group in order to expand its service platform and, ideally, its client base as well.
Bank Of America Keeps Hiring For Merrill Edge's Mass Affluent Branches
Bank of America may be foundering in some ways, but the bank's efforts to combine its middle-class reach with the Merrill Lynch brand are still ramping up.
State Of The Industry: Largest RIAs Managing More Assets As Consolidation Continues
A highly credible new survey says the private wealth asset managment business remains highly concentrated, with large firms dominating market share as measure by AUM.
The advisory business is bigger than ever, but ongoing M&A is making the biggest firms grow larger still, and they now control most private wealth assets.
Labor Department Sticks To Its Guns On ERISA Fiduciary Rules
The Labor Department is moving ahead with new rules that force everyone who provides investment advice on retirement assets to put their clients' interests first -- despite all the lobbying from broker groups.
Yet Another Veteran Smith Barney Team Flees, This Time Going Independent
One more broker team has left Morgan Stanley from the old Smith Barney side. This time around, it's a team that goes back to 1980 with the firm jumping ship.
